Financial Highlights

Q3 2021 financial highlights

Capitalization levels are well above the current applicable regulatory requirements:

• Capital Adequacy ratio: 13.6%
• CET1 ratio: 12.5%

Adequate Liquidity profile was maintained in Q3 2021:

• Advances to Stable Funding ratio: 77 %
• Eligible Liquid Assets: 15%
• Loan: Deposit ratio: 78%
• Costs rationalization:
• Reduction in Operating expenses by 9% YoY

Profitability:

• Operating income increased by 11% YoY to AED 336.5m
• Operating profit: increased by 50% YoY to AED 156.2m
• Net profit: recorded AED 44.7m

        Note: Net profit for Q3 2021 has increased by 7% in comparison to Q2 2021

Provision Charges: on a total portfolio basis, the bank continues to demonstrate significant improvement with 76% reduction in provision charges during Q3 2021 vs. Q3 2020 as the bank focuses on its remediation efforts and recoveries.

• NPL ratio: 15.4%
• Provisions coverage ratio: 82.3%

        Note: Provision Coverage Ratio including the Collaterals increases from 82% to 121% as on September 2021

Click here to review UAB full financial results.