Abu Dhabi – Mubasher: United Arab Bank (UAB) said that its ordinary general meeting on Monday agreed to authorise the board of directors to raise the bank’s issued capital.

The shareholders approved to raise UAB’s issued capital by AED 687 million to AED 2.06 billion from AED 1.37 billion by issuing 687.5 million shares at a value of AED 1 each, according to a bourse statement on Tuesday.

This capital increase comes within the AED 2.75 billion maximum value of the authorised capital.