UAB reports Net profit of AED 75 million for the first quarter of 2026
22 April 2026:United Arab Bank PJSC (UAB or “the Bank”) has reported a net profit of AED 75 million for the first quarter ended 31 March 2026 driven by operating profit growth of 29% year-on-year. These results are a testament to the strong foundation of the Bank and the ongoing diligent execution of strategy during challenging period impacted by high volatility and uncertainty globally due to the regional geopolitical situation. UAB remains firmly committed to maintain a resilient credit profile, underpinned by a strong capital base and solid liquidity position. The Bank continues to prioritise prudent risk management and disciplined cost control as core elements of its strategic imperatives, supporting stable performance and long-term growth.
- Net profit reported at AED 75 million for the first quarter ended 31 March 2026, as compared to AED 102 million for comparative prior year period.
- Total operating income grew by 16% year-on-year to AED 193 million for Q1 2026 compared to AED 165 million for Q1 2025 driven by higher net interest income (up 34% year-on-year).
- Growth in operating income combined with disciplined expense management resulted in strong operating profit growth of 29% year-on-year.
- Net impairment charges of AED 18 million were taken during Q1 2026 as compared to a net reversal of AED 34 million in the Q1 2025, which was driven by one-off recoveries and writebacks included in prior year period.
- Annualised return on shareholders’ equity (RoSE) was 9.0% for Q1 2026.
- Total assets were recorded at AED 27 billion at end-March 2026, up 15% year-on-year.
- Loans, advances and Islamic financing, and investments grew by 21% and 22% respectively, while customer deposits increased by 11% year-on-year.
- Asset quality metrics remained healthy with an NPL ratio of 2.6% and provision coverage of 110%.
- Capital adequacy ratio remains robust at 20.4% and well above regulatory requirements.
- Liquidity and funding metrics also remain healthy with advances to stable resources ratio (ASRR) at 73% and eligible liquid asset ratio (ELAR) at 16%, both comfortably above regulatory thresholds.
- UAB’s credit ratings were affirmed by Fitch at ‘BBB+’ with a ‘Stable’ outlook during the quarter. The Bank also enjoys Moody’s investment-grade ratings of Baa2 with a ‘Stable’ outlook.
