National Bank of Umm Al-Qaiwain has recorded a net profit of AED 238.89 Million for the six months of the year 2019. Improved operating performance was driven by the increased interest income and fee income coupled with the effective cost management.

Fee and commission income recorded an increase of 63% as compared to similar period last year.  Cost to income ratio has improved to 20.26 % as at the end of June 2019 compared to 21.13% in June 2018, reflecting the bank’s operational efficiencies and disciplined cost management.

Net provision charge for impairment for the six months decreased by 12% as compared to the same period last year. NPL ratio reduced by 27 basis points compared to first quarter of 2019. 

Other Major Highlights As At 30th  June 2019

• Total assets stood at AED 14.556 Billion.
• Deposits to advances ratio is maintained prudently at 110%.
• Capital Adequacy Ratio of 35.65% as at 30th June 2019 continues to be well over the minimum threshold stipulated by the UAE Central Bank in accordance with Basel III guidelines. This provides opportunities to leverage. Tier I ratio is maintained strongly at 34.51%.
• Share Capital is AED 1.848 Billion and total Shareholders’ equity is AED 4.538 Billion.
• Bank has maintained high liquidity with stable resources to advances ratio of 146% as at 30th June 2019, while the Central Bank of UAE has set 100% as the minimum limit.
• Net Stable funding ratio as per Basel III guidelines stood at 114.27% compared to minimum stipulated ratio of 100%. This will enable the bank to prudently expand its lending portfolio.