Abu Dhabi – Mubasher: United Arab Bank (UAB) incurred net losses of AED 208.9 million during the first half (H1) of 2020, against AED 35.7 million net profits in the year-ago period.

The lender's net interest income decreased to AED 163.4 million in H1-20 from AED 205.3 million in H1-2019, according to the bank's financial results for the period ended on 30 June.

In the second quarter (Q2) of 2020, the bank logged net losses of AED 89 million, versus AED 14.1 million net profits in the same quarter of 2019.

The bank's total assets reached AED 16.709 billion in Q2-20, down from AED 19.59 billion in Q2-2019.

It is noteworthy to mention that in the first quarter (Q1) of 2020, the bank's net losses recorded AED 119.9 million, versus net profits of AED 21.6 million in the corresponding period of 2019.