UAB
UAB
UAB
United Arab Bank’s (UAB) a net profit for the first quarter of 2014 surged 34 per cent to Dh161 million compared to the same period in 2013, Gulf News reported.
The bank recorded operating income of Dh223 million, up 44 per cent from the first quarter of 2013. Total income improved 45 per cent to Dh327 million, with both net interest income and other income up 42 per cent and 52 per cent respectively, compared to the first quarter of 2013.
“UAB’s sustained growth and momentum of recent years continues, strengthening our position in a highly competitive market. As we continue to gain traction, we are confident of our ability to deliver solid results and offer true value to customers, shareholders and partners,” said Shaikh Faisal Bin Sultan Bin Salem Al Qasimi, Chairman of the Board of Directors.
Bank’s non-interest income grew strongly in the quarter to Dh87 million, driven primarily by net fees & commissions of Dh30 million and foreign exchange income of Dh20 million.
The bank recorded operating income of Dh223 million, up 44 per cent from the first quarter of 2013. Total income improved 45 per cent to Dh327 million, with both net interest income and other income up 42 per cent and 52 per cent respectively, compared to the first quarter of 2013.
“UAB’s sustained growth and momentum of recent years continues, strengthening our position in a highly competitive market. As we continue to gain traction, we are confident of our ability to deliver solid results and offer true value to customers, shareholders and partners,” said Shaikh Faisal Bin Sultan Bin Salem Al Qasimi, Chairman of the Board of Directors.
Bank’s non-interest income grew strongly in the quarter to Dh87 million, driven primarily by net fees & commissions of Dh30 million and foreign exchange income of Dh20 million.
Source:
Mubasher
