Abu Dhabi-Mubasher: United Arab Bank (UAB) reported losses of AED 166.15 million ($455.24 million) in the fiscal year 2015, against profits of AED 605.4 million ($164.8 million) a year earlier.
The bank’s prudent provisioning approach in the last six months of 2015 affected its full-year financial results, according to a bourse filing on Monday.
Provisions for credit losses rose to AED 887.79 million in FY15, compared to AED 374 million in FY14.
UAB turns to losses in FY15
Mubasher Contribution Time: 25-Jan-2016 04:46
(GMT)
