National Bank of Umm Al-Qaiwain has recorded an increase of 4% in the net profit to AED 349.76 Million for the nine months of the year 2019 as compared to AED 335.83 Million during the same period last year. Third quarter profit of 2019 recorded an increase of 13% compared to the same period last year. Improved operating performance was driven by increase in interest income and fee income coupled with the effective cost management and recovery efforts.

Cost to income ratio has improved to 20.94 % as at the end of September 2019 compared to 23.02% in September 2018, which reflect the bank’s operational efficiencies and disciplined cost management.

Net provision charge for impairment for the nine months decreased by 4% as compared to the same period last year.

Other Major Highlights As At 30th  September 2019

• Total assets stood at AED 14.431 Billion.
• Deposits to advances ratio is maintained prudently at 109%.
• Capital Adequacy Ratio improved to 35.98% as at 30th September 2019, which 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 34.84%.
• Share Capital is AED 1.848 Billion and total Shareholders’ equity is AED 4.677 Billion.