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National Bank of Umm Al Qaiwain (NBQ) reports net profit up 12 per cent

January 27, 2014

National Bank of Umm Al Qaiwain turned in net profits of AED 368.079 million, up 12 per cent, in 2103. The bank said net operating profit before provisions was AED 441.329 million, against AED 369.824 million in 2012. Total revenue for NBQ was AED 659.928 million, up from AED 623.194 million in 2012. Total assets at end-2013 were AED 12.539 billion while loans and advances were AED 7.077 billion and customer deposits were AED 7.441 billion. NBQ maintained strong liquidity and advances to deposits ratios of 30.17 per cent and 95.1 per cent respectively. The bank's capital adequacy and Tier 1 capital ratios were 33.8 per cent and 32.2 per cent. Shareholders' funds rose 8.3 per cent to AED 3.702 billion. Earnings per share rose to 0.23 fils at end-2013 from 0.21 fils a year earlier. NBQ's Board has proposed a cash dividend of 16 per cent and a bonus share dividend of five per cent of the share capital as at 31 December 2013 .

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Source: CPI Financial

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