NBQ posts AED 349.8m profit in 9M

Abu Dhabi – Mubasher: National Bank of Umm Al Qaiwain (NBQ) has reported a 4.15% year-on-year profit increase during the first nine months of 2019, recording AED 349.76 million, according to a bourse statement released on Tuesday.

The bank’s operating expenses declined to AED 103.45 million in the nine-month period ended September 2019, compared to AED 113 million in the year-ago period.

Meanwhile, provision for impairment on financial assets went down to AED 41.1 million in the January-September period, from AED 42.71 million a year earlier.

Interest income grew by 3.13% year-on-year to in the first nine months of 2019, registering AED 426.448 million.

In the third quarter of 2019, the bank’s net profit rose to AED 110.88 million, compared to AED 98 million.

Basic earnings per share levelled up to AED 0.06 in Q3-19 versus AED 0.05 the year before.

Mubasher Contribution Time: 29-Oct-2019 09:56 (GMT)
Mubasher Last Update Time: 29-Oct-2019 10:16 (GMT)