Abu Dhabi – Mubasher: United Arab Bank (UAB), listed on the Abu Dhabi Securities Exchange (UAB), on Tuesday announced it has achieved a net profit of AED 36 million in the first half of 2019.

UAB also reported a 6% year-on-year growth in interest income for H1-19, according to a press release.

Moreover, the bank’s operating expenses fell by 6% in the first six months of the year as compared to the same period a year earlier.

Total Income stood at AED 282 million in the six-month period ended 30 June 2019, UAB said.

“The bank’s liquidity profile remains strong as evidenced by a robust loan to deposit ratio of 93%,” the lender said.

The bank’s provisions for credit losses dropped by 5% year-on-year in H1-19 to AED 88 million.