"The United Arabi" It achieves 49% growth in net profits of the first quarter
Sharjah, April 29 / WAM / The United Arab Bank recorded, in the first quarter of this year 2025, a net profit of 102 million dirhams compared to 68 million dirhams in the first quarter of the year 2024, and an increase of 49%.
This growth in net profits is due to the improvement of operational performance and strong recitations, which led to a decrease in net value allocations.
The total assets increased by 31% on an annual basis in the first quarter of the year 2025 to 23.4 billion dirhams driven by strong growth in loans, predecessors and Islamic finance (31%+ on an annual basis) and the growth of investments by (29%+ on an annual basis) and the increase in customer deposits by 40% on an annual basis.
The bank continued to maintain a strong capital adequacy rate of 17.1% and the rate of “CET1” of 12.6%, both of which are much higher than the regulatory requirements, which supports future credit growth, and the percentage of total troubled loans has improved significantly to 3.4% from 4.8% in the past year supported by enough coverage of 118%.
The bank also continued to focus on developing its basic business and revenues across the banking services sectors of companies and banking services for individuals, treasury and capital markets, while heading towards a more flexible operating model that provides solutions and digital capabilities.
The durability of the liquidity portfolio of the bank is evident through the proportion of the predecessors to the stable resources of 73.7% and the percentage of qualified liquid assets of 18.0%, both of which are much higher than the regulatory limits.
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