July 15 2009, Sharjah, UAE: United Arab Bank P.J.S.C. today announced its financial results for the six months ended 30 June 2009.
In challenging financial markets, United Arab Bank maintained earnings momentum recording net profit growth of 11% to AED 134 million for the six months ended 30 June 2009, compared to AED 121 million achieved during the same period last year.
Earnings per share improved to AED 0.134 in June 2009 compared to AED 0.121 in June 2008. Growth momentum has been maintained despite a decline in volumes since December 2008 due to the slowdown resulting from market conditions. For the first half year of 2009 loans increased by 8 % to AED 5.0 billion from AED 4.6 billion for the prior year period and customers’ deposits rose by 5 % to AED 4.4 billion from AED 4.2 billion in the first half year of 2008.
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