Sharjah, UAE: United Arab Bank P.J.S.C. today announced its financial results for the full year ending December 31 2008.
Results highlights
Net profit up 18.4% to AED 250.2 million
Total assets up 22.2% to AED 7.5 billion
Total loans up 39.7% to AED 5.5 billion
Customer deposits up 20.5% to AED 5 billion
ROAE increased to 19.1% from 17.8%
Against a volatile economic backdrop in 2008, United Arab Bank P.J.S.C. maintained strength and momentum with solid earnings growth. The Bank's Net Profit increased by 18.4% to AED 250.2 million for the year ended 31 December 2008, compared to AED 211.3 million achieved in 2007.
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