Business
UAB reports net profit of $20.4mln for Q1 2026
UAB reports net profit of $20.4mln for Q1 2026
About this update from United Arab Bank
Staff WriterUnited Arab Bank has reported a net profit of AED 75 million for the first quarter ended 31 March 2026. The results are underpinned by 16% year-on-year growth in total operating income, reflecting the Bank’s disciplined execution of its strategy, strong asset growth, and prudent risk management amid global market volatility and regional geopolitical uncertainty.Total assets stood at AED 26.9 billion, up 15% year-on-year, supported by strong growth in loans, advances, and Islamic financing, which increased 21% to AED 15.1 billion, while investments increased 22% to AED 8.3 billion. Customer deposits rose 11% year-on-year to AED 16.7 billion.Asset quality metrics remained robust, with a non-performing loan (NPL) ratio of 2.6% and provision coverage of 110%. The Bank’s capital and liquidity positions remained strong, with an advances-to-stable-resources ratio (ASRR) of 73% and an eligible liquid asset ratio (ELAR) of 16%.The bank continued to maintain a solid capital adequacy ratio of 20.4% and CET1 ratio of 16.4%, both of which remained well above regulatory requirements.Shirish Bhide, Chief Executive Officer of UAB, said: "UAB has delivered a solid set of results in the first quarter of 2026, demonstrating the strength and resilience of our business model. In a quarter that saw a difficult period for the region, UAB delivered robust top-line and operating profit growth, vis-à-vis the same period in 2025. This impressive growth reflects the business momentum we have built and our disciplined approach to risk management and expense control.''Article Source: Emirates News Agency (WAM)Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.