Key Highlights of 2016 FY Financials

  • Total Operating Income of AED861m
  • Net Profit before Provisions of AED489m
  • Solid liquidity profile with UAB comfortably above regulatory requirements
  • Loans : Deposits ratio improved to 86% vs. 93% in FY 2015
  • 73% reduction in ‘Non-core’ portfolio
  • Robust cost management with a 24% saving recorded against prior year
  • UAB is in final stages of capital injection which will improve CAR above 14%

Key Highlights of 2016 Q3 Financials

  • AED88m Net Profit (22% uplift vs. PY 2015)
  • Capital Adequacy increased to 16.1%
  • Provision for Credit Losses decreased 44% vs. Q3 2015
  • Robust cost management delivering 19% YoY savings
  • Solid liquidity / funding profile with UAB comfortably above regulatory requirements
  • Loans : Deposits Ratio improving to 95%
  • 59% reduction in ‘Non-core’ portfolio vs. Q3 2015

Key Highlights of 2016 Q2 Financials

  • AED71m Net Profit in H1 2016
  • Capital Adequacy maintained above 15%
  • Robust liquidity profile with UAB comfortably above regulatory requirements
  • ‘Non-core’ higher risk portfolios reduced by half as part of ongoing deleveraging strategy
  • Provisions for Credit Losses remain broadly in line with Q1 2016, with H1 2016 significantly below H2 2015
  • Cost reduction program delivering material savings with 20% YoY reduction in Operating Expenses
  • Transformation strategy remains ahead of plan to build a more efficient, lower risk and sustainable Bank

Key Highlights of 2016 Q1 Financials

  • AED45m Net Profit in Q1 2016
  • Capital Adequacy improved to 15%
  • Asset deleveraging ongoing, reducing ‘non-core’ higher risk portfolios
  • Provision for Credit Losses decreased 60% vs. Q4 2015
  • Solid liquidity with UAB comfortably above regulatory requirements
  • Cost reduction program delivering material savings
  • Transformation strategy ahead of plan to build a more efficient, lower risk and sustainable Bank

 

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