H1 2022 financial highlights

Capitalization levels are above the current applicable regulatory requirements:

• Capital Adequacy ratio: 13.2%
• CET1 ratio: 12.0%

Adequate Liquidity profile was maintained in H1 2022:

• Advances to Stable Funding ratio: 83 %
• Eligible Liquid Assets: 15%
• Loan: Deposit ratio: 80%

Costs rationalization:

• Reduction in Operating expenses by 3% YoY

Asset Quality: UAB continues with its decisive and prudent provisioning approach, and to proactively recognize problem loans which has resulted in NPL ratio of 11.0% in Jun 2022 compared to 12.6% in Dec 2021.

The Provision Coverage ratio (including collaterals) increased to 132% as at Jun 2022 compared to 122% in Dec 2021.

Profitability:

• Total Operating income increased by 3% YoY to AED 243m
• Net profit: recorded AED 83.3m