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UAB’s accumulated loss hits AED 490m in September

UAB’s accumulated loss hits AED 490m in September
Accumulated loss accounted for 23.8% of capital
UAB
UAB
-2.50% 0.90 -0.02

Abu Dhabi – Mubasher: United Arab Bank’s (UAB) accumulated loss reached AED 490 million ($133.41 million) at the end of September 2019.

The bank’s accumulated loss accounted for 23.8% of its capital, according to a bourse statement released on Tuesday.

It is worth noting that UAB reported an AED 63 million net loss during the nine months period ended 30 September 2019, versus a net profit of AED 104.8 million a year earlier.