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UAB reports AED 471m net losses in 2019

UAB reports AED 471m net losses in 2019
UAB posted a loss per share of AED 0.23 in 2019
UAB
UAB
10.34% 0.90 0.08

Abu Dhabi – Mubasher: United Arab Bank (UAB) has incurred a net loss amounting to AED 470.753 million in 2019, versus a net profit of AED 77.227 million in 2018, according to the bank’s preliminary financial statements for 2019.

The bank’s revenues declined to AED 544.764 million last year from AED 647.471 million in 2018.

Meanwhile, UAB posted a loss per share of AED 0.23 in 2019 from earnings per share (EPS) of AED 0.04 in the earlier year.

It is noteworthy to mention that during the first nine months of 2019, the bank logged AED 63 million net losses, compared to net profits of AED 104.8 million.