Abu Dhabi – Mubasher: The National Bank of Umm Al Qaiwain on Tuesday stated that its net profits jumped 31.3% year-on-year in the fourth quarter of 2017.

Net profits amounted to AED 83.9 million ($22.84 million) during Q4-17, compared to AED 63.9 million ($17.4 million) in the same period a year earlier, according to a statement to the Abu Dhabi Securities Exchange (ADX).

The bank’s annual profits increased 14% to AED 369.8 million in 2017, from AED 325.7 million the year before.

Operating revenues rose 3% to AED 636.7 million by the end of 2017, compared to AED 621 million the previous year.