The United Arab Bank collects 1.031 billion dirhams by issuing priority rights
Sharjah on August 6 / WAM / The United Arab Bank listed in the Abu Dhabi Securities Market announced its success in collecting 1.031 billion dirhams through the process of issuing priority rights that concluded on July 29, after obtaining all the necessary organizational approvals.
The operation resulted in raising the issued and paid capital of the bank from 2.062 billion dirhams to 3.093 billion dirhams by issuing new shares at a price of one dirham for the share.
The subscription process witnessed a wide turnout by shareholders, which reflects their confidence in the bank’s performance and strategy for transformation and sustainable growth, and the United Arab Bank intends to employ net revenues resulting from subscription to enhance the capital base and support its future business growth.
His Excellency Sheikh Mohammed bin Faisal bin Sultan Al Qasimi, Chairman of the United Arab Bank, stressed that the success achieved in the issuance of priority rights embodies the confidence of the shareholders and the durability of the financial position of the bank, explaining that this step represents a new start in the bank’s march towards achieving more growth and enhancing its contribution to supporting the national economy.
He thanked and appreciated the United Arab Emirates Bank, the Securities and Commodities Authority and the Abu Dhabi Stock Exchange, and all partners for their cooperation and support, which had a pivotal role in the success of this process.
For his part, Sherish Edah, CEO of the United Arab Bank, explained that the success of the process of issuing priority rights reflects the confidence of shareholders in the bank’s future plans, stressing that the additional capital will support the next stage of the bank’s strategy and enhance its readiness to meet organizational requirements and customer aspirations and achieve rewarding returns for shareholders.
The United Arab Bank recorded a net profit of 208 million dirhams during the first half of 2025, an increase of 50% compared to the same period in 2024, while total income increased by 24% to 374 million dirhams.
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