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NBQ sees AED 127m net profits in H1-20

NBQ sees AED 127m net profits in H1-20
The EPS settled at AED 0.07 in H1-20
-2.50% 1.95 -0.05

Abu Dhabi – Mubasher: The net profits of the National Bank of Umm Al Qaiwain (NBQ) reached AED 127.24 million during the first six months of 2020, down from AED 238.89 million in the same period of 2019.

The bank's net interest income and net income from Islamic products declined to AED 184.845 million in the first half (H1) of 2020 from AED 256.094 million in H1-19, as shown by the bank's consolidated interim financial results for the period ended on 30 June 2020.

The lender's total assets recorded AED 14.053 billion as of 30 June, compared to AED 14.297 billion in 2019.

The basic and diluted earnings per share (EPS) settled at AED 0.07 in the January-June period of the current year, versus AED 0.13 in the year-ago period.

During the second quarter (Q2) of 2020, the bank's net profits decreased to AED 54.420 million from AED 103.707 million in the corresponding quarter of 2019.

It is noteworthy to mention that in the first quarter (Q1) of 2020, the bank achieved net profits of AED 72.818 million, down from AED 135.181 million in Q1-19.