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Thank you for reading about 36 million AED from the profits of United Arab Bank in the first half and we are now starting with the last details
United Arab Bank PJSC (UAB) reported a net profit of AED 36 million in the first half of 2019. It also recorded an increase in interest income of 6% and a 6% decrease in expenses. ; operating.
Sheikh Faisal bin Sultan bin Salem Al Qasimi, chairman of the United Arab Bank, said: "In the first half of this year, the bank has shown stability in the performance and sustainability of its business, improving the quality and the excellence of its programs and improving the quality of its offerings, he added that the Bank was following a thoughtful strategy, consistent with the growth needs and aspirations of shareholders, as well as the future and the future. development and improvement of its operating model and business in line with its clientele and sustainable growth in the UAE.
Ahmed Abu Odeh, President and CEO of UAB, commented on the results of the first half: Innovate in banking solutions that reinforce the optimism of its operations and operations.
"We continue to implement our ambitious vision and invest in modern technology to manage our resources more efficiently, increasing our revenues and reducing the risk of our operations, thereby improving our bottom line and our customers' confidence in the future." quality of our badets and services.
UAB continues to improve its core business by streamlining the cost base and maintaining the fundamentals of the banking sector. With total revenue of AED 282 million, supported by an increase in interest income of 6% in the first half of 2019 compared to the same period of 2018.
The Bank's liquidity ratios remained strong, reflecting the loan-to-deposit ratio of 93%, while customer deposits (76% of total liabilities) remained the Bank's main source of financing.
Provisions for credit losses totaled $ 88 million, down 5% from the first half of 2018, as a result of risk management.
This is the detail of the news of the 36 million dirhams profits of the United Arab Bank during the first half of this day. We hope to have provided you with all the necessary details and information. We will keep you informed of all our news.
It should also be noted that the original story was published and is located on the Gulf Coast. The Gulf 365 editorial team confirmed that it may have been altered and that it had been completely moved or cited. You can read and follow information about the source.
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