United Arab Bank posts 25% rise in Q1 net profit
Total income was higher by 33 per cent at Dh163 million during the period
Dubai: United Arab Bank posted a 25 per cent rise in net profit after tax for the first quarter of 2024 as a result of is a "significant" increase in the bank’s total assets.
Net profit after tax rose to Dh68 million for the first three months in 2024 as compared to net profit of Dh55 million for the first three months in 2023. Meanwhile, total income was higher by 33 per cent at Dh163 million.
Commenting on the bank's performance, Sheikh Mohammed bin Faisal bin Sultan Al Qassimi, Chairman of the Board of Directors of United Arab Bank, said: “We are pleased with the positive results accomplished for Q1 of 2024, which reflects the Bank’s success in effectively delivering the set strategy that supports our growth and most importantly our shareholders' expectations."