Q1 2022 financial highlights

Capitalization levels are well above the current applicable regulatory requirements:

• Capital Adequacy ratio: 14.3%
• CET1 ratio: 13.1%

Adequate Liquidity profile was maintained in Q1 2022:

• Advances to Stable Funding ratio: 80 %
• Eligible Liquid Assets: 16%
• Loan: Deposit ratio: 78%

Costs rationalization:

• Reduction in Operating expenses by 8% QoQ

Provision Charges: on a total portfolio basis, the Bank continues to demonstrate significant improvement in Q1 with 55% YoY reduction in provision charges 2022 which resulted with:

• NPL ratio: 12.4%
• Provisions coverage ratio: 126%

Profitability:

• Total Operating income increased by 3% QoQ to AED 116.9m
• Net profit: recorded AED 30.4m