NBQ reports Dh383.74 million net profit

Loans and advances were up 14 per cent in 2014

27/01/2015 20:48 AST

National Bank of Um Al Qaiwain (NBQ) on Tuesday reported a net profit of Dh383.74 million, up 4 per cent compared to Dh368 million on 2013.

The bank’s operating income for 2014 was up 25 per cent at Dh406.31 million compared to Dh323.97 million at year-end 2013.

Last year, NBQ’s total assets increased to Dh13.29 billion from Dh12.49 billion reported in 2013. While customer loans and advances were up 14 per cent at Dh8.05 billion in 2014 compared to Dh7.03 billion, customer deposits grew 8 per cent to Dh8.04 billion last year from Dh7.44 billion in at the year-end 2013.

The bank maintained strong liquidity last year at 23.58 per cent as its capital adequacy ratio as well as tier 1 ratios were at high levels of 31.1 per cent and 29.6 per cent, respectively in 2014.

NBQ’s board has proposed a cash dividend of 11 per cent of the share capital and a bonus share of 10 per cent of the capital.


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