Abu Dhabi – Mubasher: The National Bank of Umm Al Qaiwain (NBQ) reported a 21.2% increase year-on-year in its profits during the fourth quarter of 2016, according to a bourse filing.
Profits reached AED 64 million ($17.42 million) in Q4-16, compared to AED 52.82 million ($14.38 million) in Q4-15.
In 2016, profits fell 40% to AED 325.73 million from AED 542.76 million in 2015.
The bank’s operating profits declined 3.5% to AED 354.37 million in 2016 from AED 367.04 million in 2015.
Loans and advances rose to AED 8.81 billion year-on-year in 2016.
