Abu Dhabi – Mubasher: The United Arab Bank (UAB), listed on the Abu Dhabi Securities Exchange (ADX), reported an AED 63 million net loss during the nine months period ended 30 September 2019, versus a net profit of AED 104.8 million a year earlier.
On a quarterly basis, operating profit was up by 12% during the third quarter (Q3) of 2019 when compared to Q2-19, according to a press release on Sunday.
The bank’s total income registered AED 415 million, boosted by a higher interest income by 3% year-on-year (YoY) over Q3-19, while the capital adequacy ratio stabilized at 16%, well above the regulatory requirement of 13%.
It is worth noting that during the first half of 2019, the bank logged a net profit of AED 36 million.
