News Column

NBQ reports net profit increase to AED 186.324 million for H1 2014

July 24, 2014

National Bank of Umm Al-Qaiwain (NBQ) has announced that it has achieved a net profit of AED 186.324 million for the six months ending 30th June 2014 compared with the six months profit of AED 184.661 million registered for the same period in 2013.

Operating income for the six months ending 30th June 2014 is AED 174.6 million recording a nine per cent increase as compared to AED 160.181 million for similar period in 2013.

Total assets stood at AED 12.559 billion whilst loans and advances amounted to AED 7.380 billion. Furthermore, customer deposits amount to AED 7.485 billion.

The capital adequacy ratio stood at 29.6 per cent as of the 30th June 2014, and continues to be well over the minimum 12 per cent stipulated by the UAE Central Bank.

Share capital is AED 1.680 billion, whilst total shareholders' equity is AED 3.698 billion.

The bank has high liquidity with advances to stable resources ratio of 75 per cent as at 30th June 2014 (December 2013 73 per cent), against the maximum limit of 100 per cent set by UAE Central Bank. Liquidity coverage ratio, as per Basel III guidelines, stood at 164 per cent (December 2013 201.03 per cent), compared to the minimum stipulated ratio of 50 per cent. This will enable to bank to expand its lending portfolio in the future.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: CPI Financial

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters