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Mid East Info
18-07-2025
- Business
- Mid East Info
United Arab Bank Net Profit up by 50% for the First Half of 2025 - Middle East Business News and Information
Net profit reported at AED 208 million for H1 2025 compared to AED 139 million for H1 2024; reflecting a YoY increase of 50%. Earnings per share rose to AED 0.10 per share in H1 2025 compared to AED 0.07 in the corresponding prior year period. Total income increased by 24% YoY to AED 374 million for H1 2025, compared to AED 300 million for H1 2024, driven by higher net interest income which increased by 13% and higher non-interest income increasing by 70% compared to the corresponding prior year period. Total assets reported at AED 23.9 billion for H1 2025 representing a growth of 11% compared to December 2024. This is driven by a 16% growth in loans, advances, and Islamic financing and 10% growth in Investments. Asset quality metrics maintained their improvement streak with non-performing loans (NPL) ratio now dropping below 3% to 2.2%, and provision coverage increased to 148%. The Bank'scapital position remains robust, with a Common Equity Tier 1(CET1) of 12.1% and total capital adequacy ratio (CAR) at 16.3%. UAB's liquidity profile remains strong, as reflected by an Advances to Stable Resources Ratio of 80%, and an Eligible Liquid Asset Ratio of 17% – both comfortably above regulatory thresholds. Fitch and Moody's affirmed UAB's credit ratings at BBB+/Baa3, with 'Stable' and 'Positive' outlooks, respectively. UAE, 17 July 2025 – United Arab Bank PJSC (UAB or 'the Bank') has announced its financial results for the six months ended 30th June 2025. UAB posted a net profit of AED 208 million for the first half of 2025, compared to AED 139 million for the same period last year, representing a 50% YoY increase. Total income rose by 24% YoY to AED 374 million. The increase in net profit reflects significant growth in total assets—up 11% from December 2024—and the Bank's disciplined approach to risk management. UAB's balance sheet was further strengthened through a continued focus on asset quality and capital resilience. These results underscore the Bank's solid momentum and strategic readiness for future growth. H.H. Sheikh Mohammed bin Faisal bin Sultan Al Qassimi, Chairman of the Board of Directors of United Arab Bank, said: 'The Bank's exceptional financial performance in the first half of 2025 underscores the effectiveness of our strategic vision and the strength of our governance framework. Looking ahead, we are unwavering in our commitment to advancing the UAE's economic agenda while creating enduring value for all stakeholders. We will continue to lead with discipline, resilience, and an uncompromising focus on innovation, digital transformation, and operational excellence.' Shirish Bhide, Chief Executive Officer of United Arab Bank, said: 'Our first-half results reflect robust operational performance and the growing impact of our transformation agenda. The strong growth in profitability and total assets highlights the success of our strategic execution and our unwavering focus on customer value, efficiency, and prudent risk-taking.' He added: 'As we move forward, we will continue to scale our digital capabilities, introduce innovative products, and further strengthen our control environment—while keeping the customer at the center of everything we do.' United Arab Bank is in the process of enhancing its capital by up to AED 1.03 billion through a Rights Issue offered to existing shareholders. This capital injection will increase the total share capital by up to AED 3.09 billion, subject to completion of the process and necessary regulatory approvals, strengthening the Bank's capital adequacy and enhance its resilience to any adverse macro-financial shocks, while enabling future asset growth towards achieving its strategic and financial goals. -End-
Web Release
18-07-2025
- Business
- Web Release
United Arab Bank Net Profit up by 50% for the First Half of 2025
United Arab Bank Net Profit up by 50% for the First Half of 2025 United Arab Bank PJSC (UAB or 'the Bank') has announced its financial results for the six months ended 30th June 2025. UAB posted a net profit of AED 208 million for the first half of 2025, compared to AED 139 million for the same period last year, representing a 50% YoY increase. Total income rose by 24% YoY to AED 374 million. The increase in net profit reflects significant growth in total assets—up 11% from December 2024—and the Bank's disciplined approach to risk management. UAB's balance sheet was further strengthened through a continued focus on asset quality and capital resilience. These results underscore the Bank's solid momentum and strategic readiness for future growth. H.H. Sheikh Mohammed bin Faisal bin Sultan Al Qassimi, Chairman of the Board of Directors of United Arab Bank, said: 'The Bank's exceptional financial performance in the first half of 2025 underscores the effectiveness of our strategic vision and the strength of our governance framework. Looking ahead, we are unwavering in our commitment to advancing the UAE's economic agenda while creating enduring value for all stakeholders. We will continue to lead with discipline, resilience, and an uncompromising focus on innovation, digital transformation, and operational excellence.' Shirish Bhide, Chief Executive Officer of United Arab Bank, said: 'Our first-half results reflect robust operational performance and the growing impact of our transformation agenda. The strong growth in profitability and total assets highlights the success of our strategic execution and our unwavering focus on customer value, efficiency, and prudent risk-taking.' He added: 'As we move forward, we will continue to scale our digital capabilities, introduce innovative products, and further strengthen our control environment—while keeping the customer at the center of everything we do.' United Arab Bank is in the process of enhancing its capital by up to AED 1.03 billion through a Rights Issue offered to existing shareholders. This capital injection will increase the total share capital by up to AED 3.09 billion, subject to completion of the process and necessary regulatory approvals, strengthening the Bank's capital adequacy and enhance its resilience to any adverse macro-financial shocks, while enabling future asset growth towards achieving its strategic and financial goals.
Al Etihad
17-07-2025
- Business
- Al Etihad
United Arab Bank net profit up by 50% for H1 2025
17 July 2025 22:04 SHARIAH (WAM) United Arab Bank PJSC (UAB) has announced its financial results for the six months ended June 30, 2025. UAB posted a net profit of Dh208 million for the first half of 2025, compared to Dh139 million for the same period last year, representing a 50% YoY income rose by 24% YoY to Dh374 increase in net profit reflects significant growth in total assets—up 11% from December 2024—and the Bank's disciplined approach to risk management. UAB's balance sheet was further strengthened through a continued focus on asset quality and capital results underscore the Bank's solid momentum and strategic readiness for future of the Board of Directors of United Arab Bank, Sheikh Mohammed bin Faisal bin Sultan Al Qassimi, said, 'The Bank's exceptional financial performance in the first half of 2025 underscores the effectiveness of our strategic vision and the strength of our governance ahead, we are unwavering in our commitment to advancing the UAE's economic agenda while creating enduring value for all stakeholders. We will continue to lead with discipline, resilience, and an uncompromising focus on innovation, digital transformation, and operational excellence.'Chief Executive Officer of United Arab Bank, Shirish Bhide, said, 'Our first-half results reflect robust operational performance and the growing impact of our transformation agenda. The strong growth in profitability and total assets highlights the success of our strategic execution and our unwavering focus on customer value, efficiency, and prudent risk-taking.'He added, 'As we move forward, we will continue to scale our digital capabilities, introduce innovative products, and further strengthen our control environment—while keeping the customer at the centre of everything we do.'United Arab Bank is in the process of enhancing its capital by up to Dh1.03 billion through a Rights Issue offered to existing shareholders. This capital injection will increase the total share capital by up to Dh3.09 billion, subject to completion of the process and necessary regulatory approvals, strengthening the Bank's capital adequacy and enhancing its resilience to any adverse macro-financial shocks, while enabling future asset growth towards achieving its strategic and financial goals.
Arabian Business
05-02-2025
- Business
- Arabian Business
United Arab Bank reports 30% jump in pre-tax profit for FY2024
Sharjah-based United Arab Bank announced its financial results for the full year of 2024, with net profit (before tax) jumping 30 per cent to AED331 million ($90.1 million) and operating income up 5 per cent to AED606 million ($165 million). Net profit before tax for FY2023 was AED255 million ($69.43 million) and the bank attributed the growth to improved operating performance and strong recoveries, which led to lower net impairment charges. Outlook for 2025 remains robust with new portfolio underwritings in quality assets. Mashreq delivers $2.45bn net profit in 2024 Total assets grew by 22 per cent YoY to AED21.5 billion ($5.85 billion). There was strong growth in loans, advances and Islamic financing (up 23 per cent YoY), while customer deposits increased by 33 per cent during the year. Sheikh Mohammed bin Faisal bin Sultan Al Qassimi, Chairman of the Board of Directors of United Arab Bank, commented: 'We take immense pride in the Bank's outstanding financial performance in 2024. UAB's strong performance is a testament to the success of our growth strategy, resilience in our core business, and reinforces our commitment to delivering long-term value to our shareholders. 'As we move forward, we are fully committed to elevating our customers' banking experience and playing a pivotal role in the continued growth and prosperity of the UAE's economy.' UAB maintained a solid capital adequacy ratio of 17.4 per cent and a CET1 ratio of 12.7 per cent, both of which were above the regulatory requirements. Gross NPL ratio improved from 5 per cent the year before to 3.9 per cent in 2024. Shirish Bhide, Chief Executive Officer of United Arab Bank, added: 'Our achievements in 2024 reflect the remarkable progress made over the past three years, driven by our customer-centric approach and the successful execution of our sustainable growth model. 'Our strategy and effective operational management have been pivotal in achieving growth across all businesses. Additionally, the upgrade of UAB's deposit ratings to 'Baa3' with a continued 'Positive' outlook by Moody's is a testament to our sound financial management and tireless efforts towards strengthening the bank's financial position.'
Zawya
05-02-2025
- Business
- Zawya
United Arab Bank delivers 30% growth in 2024 net profit
SHARJAH: United Arab Bank P.J.S.C (UAB) posted a net profit (before tax( of AED331 million for the year 2024, compared to AED 255 million in 2023 representing an increase of 30%. The growth in net profit stems from the improved operating performance and strong recoveries leading to lower net impairment charges. This came as the Bank announced today its financial results for the full year ending 31st December 2024. Operating income in FY 2024 increased to AED606 million, up 5% year-on-year (YoY) and is expected to remain robust with new portfolio underwritings in quality assets. Total assets grew by 22% YoY in FY 2024 to AED21.5 billion, driven by the strong growth in loans, advances and Islamic financing (+23% yoy), while customer deposits increased by 33% yoy. The Bank continues to maintain a solid capital adequacy ratio of 17.4% and a CET1 ratio of 12.7%, both of which remain well above the regulatory requirements, thus supporting the credit growth ahead. Gross NPL ratio notably improved further to 3.9% from 5.0% a year ago, supplemented by an adequate coverage of 118%. The Bank continues to focus on growing its core businesses and revenues across its Wholesale Banking, Retail Banking and Treasury & Capital Markets segments, whilst moving towards a more agile operating model offering digital solutions and capabilities, thereby positioning itself as the partner of choice among major clientele. The Bank's robust liquidity profile is also demonstrated by an advances to stable resources ratio of 76% and an eligible liquid asset ratio of 17%, both comfortably above regulatory thresholds. Commenting on the Bank's performance, Sheikh Mohammed bin Faisal bin Sultan Al Qassimi, Chairman of the Board of Directors of United Arab Bank, said: 'We take immense pride in the Bank's outstanding financial performance in 2024. UAB's strong performance is a testament to the success of our growth strategy, resilience in our core business, and reinforces our unwavering commitment to delivering long-term value to our shareholders. Our relentless focus on digitization and transformative innovation is reshaping the future of banking, enhancing our digital capabilities and operational excellence, and driving continuous progress in efficiency and customer value." He added, 'As we move forward, we are fully committed to elevating our customers' banking experience and playing a pivotal role in the continued growth and prosperity of the UAE's economy extend my sincere gratitude to the Board of Directors, senior management, and all our employees for their unwavering dedication and exceptional performance which have been driving our success.' Shirish Bhide, Chief Executive Officer of United Arab Bank, commented: 'Our achievements in 2024 reflect the remarkable progress made over the past three years, driven by our customer-centric approach and the successful execution of our sustainable growth model. Our strategy and effective operational management have been pivotal in achieving growth across all businesses. Additionally, the upgrade of UAB's deposit ratings to 'Baa3' with a continued 'Positive' outlook by Moody's is a testament to our sound financial management and tireless efforts towards strengthening the bank's financial position."
