NBQ reports Dh102.8m net profit in first quarter

28/04/2015 00:38 AST

National Bank of Umm Al-Qaiwain (NBQ) on Monday reported a net profit of Dh102.88 million for first quarter of 2015, compared to Dh95.31 million reported in the same period last year.

Operating income for the first three months of the year increased by 14 per cent to Dh91.63 million compared to Dh80.18 million in the first quarter of 2014.

Net interest income rose 12 per cent year-on-year to Dh116.88 million, compared to Dh104.02 million in the same period last year.

Total assets stood at Dh13.47 billion at the close of the first quarter of this year, while the loans & advances portfolio stood at Dh7.79 billion and customer deposits at Dh8.4 billion.

At the end of the first quarter of this year the capital adequacy ratio was at 29.17 per cent. The bank has high level of liquidity with an advances-to stable-resources ratio of 73 per cent as of March 31, 2015.

The liquidity coverage ratio as per Basel III guidelines was at 182 per cent, compared to the minimum stipulated ratio of 50 per cent.


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