Latest news with #NBQ
Zawya
29-04-2025
- Business
- Zawya
National Bank of Umm Al Qaiwain records $50.68mln profits in Q1-25
Abu Dhabi – National Bank of Umm Al Qaiwain (NBQ) generated AED 185.78 million in net profit after tax during the first quarter (Q1) of 2025, up 6% from AED 175.73 million in Q1-24. Basic and diluted earnings per share (EPS) hit AED 0.09 in Q1-25, according to the financial results. The operating income declined to AED 192.53 million in the first three months (3M) of 2025 from AED 248.38 million a year earlier. NBQ reported 26% year-on-year (YoY) higher total assets at AED 18.60 billion as of 31 March 2025, while the customer deposits increased by 37% YoY to AED 12.16 billion. Adnan Al Awadhi, CEO of NBQ, commented: 'NBQ demonstrated impressive resilience and growth despite a challenging economic environment. Strong financial results were achieved, including higher profitability, asset growth, and an increase in customer deposits.' 'Looking ahead, NBQ is focused on expanding its market share through strategic investments in digital innovation and by diversifying its product offerings,' Al Awadhi mentioned. He added: 'Bank's outlook for 2025 remains positive, with an ongoing focus on operational excellence, customer-centric solutions, and sustainability efforts to generate long-term value for stakeholders.' As of 31 December 2024, NBQ recorded higher net profits after tax at AED 506.03 million, compared to AED 502.60 million in 2023. Source: Mubasher
Zawya
27-01-2025
- Business
- Zawya
National Bank of Umm Al Qaiwain's profits rise in 2024; total revenues cross $272mln
Abu Dhabi – National Bank of Umm Al Qaiwain (NBQ) logged profit after tax amounting to AED 506.03 million as of 31 December 2024, an annual rise from AED 502.60 million. Total revenue reached AED 1.09 billion in 2024, up from AED 954.87 million in the January-December 2023 period, according to the preliminary results. NBQ registered earnings per share (EPS) valued at AED 0.25 last year, unchanged from 2023. The lender posted total assets worth AED 17.88 billion as of 31 December 2024, higher year-on-year (YoY) than AED 14.77 billion. At the end of 2024, the customer net loans and advances reached AED 7.78 billion, while the customer deposits hit AED 11.41 billion. In the first nine months (9M) of 2024, the ADX-listed bank posted YoY higher net profits at AED 399.92 million, compared to AED 385.46 million. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
