NBQ posts 25.7% jump in net profit at Dh165.30 million in first half of 2022
Total assets were up 1.6% compared to December 2021 levels at Dh13.35b
Dubai: The National Bank of Umm Al Qaiwain has posted a net profit of Dh165.30 million for the six months of 2022, a 25.7 per cent jump compared to Dh131.48 million in the year-ago period.
Net interest income stood at Dh149 million, up 6.2 per cent, the lender said.
The bank also put down an impairment charge of Dh6 million, down 68.7 per cent compared to the year-ago period.
Cost to income stood at 29.4 per cent during the six months, reflecting the bank’s operational efficiencies and disciplined cost management.
Total assets were up 1.6 per cent compared to December 2021 levels at Dh13.35 billion, while deposits to advances ratio was maintained at 123.86 per cent.
Gross lending was reported at Dh6.596 billion.