Financial Highlights

First half 2021 financial highlights

Capitalization levels are well above the current applicable regulatory requirements:

• Capital Adequacy ratio: 13.4%
• CET1 ratio: 12.3%

Adequate Liquidity profile was maintained in H1 2021:

• Advances to Stable Funding ratio: 76.0%
• Eligible Liquid Assets: 17.3%
• Loan: Deposit ratio: 76.0%

Costs rationalization:

• Reduction in Operating expenses by 9% YoY

Profitability:

• Operating income increased by 8% YoY to AED 236.4
• Operating profit: increased by 33% YoY to AED 116.6m
• Net profit: recorded AED 26.9m with YoY increase of 113%

Note: Net profit for Q2 2021 has increased by 64% in comparison to Q1 2021

Provision Charges: on a total portfolio basis, the bank continues to demonstrate significant improvement with 70% reduction in provision charges during H1 2021 vs. H1 2020 as the bank focuses on its remediation efforts and recoveries.

• NPL ratio: 16.7%
• Provisions coverage ratio: 82.0%

Note: Provision Coverage Ratio including the Collaterals increases from 82% to 99% as on June’21

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