First quarter 2021 financial highlights
Capitalization levels are well above the current applicable regulatory requirements:
Capital Adequacy ratio: 14.2%
CET1 ratio: 13.0%
Adequate Liquidity profile was maintained in 2020:
Advances to Stable Funding ratio: 78.9%
Eligible Liquid Assets: 15.1%
Loan: Deposit ratio: 78.4%
Costs rationalization:
Reduction in Operating expenses by 6% YoY
Profitability:
Operating income: AED 132.3m
Net Income: AED 10.2m
Provision Charges: on a total portfolio basis, the bank continues to demonstrate significant improvement with a solid 66% reduction vs. Q1 2020 as the Bank focuses on its remediation efforts and recoveries.
NPL ratio: 12.2%
Provisions coverage ratio: 105.2%
