Abu Dhabi – Mubasher: United Arab Bank (UAB) posted on Sunday a year-on-year fall of 38.2% in profits for the first quarter of fiscal year 2017.
Net profit for Q1-16 reached AED 27.83 million ($7.58 million), compared to AED 45.06 million ($12.27 million) for Q1-15, according to a bourse filing.
The bank said that provision for credit losses decreased 50% in Q1-16.
