Abu Dhabi – Mubasher: National Bank of Umm Al Qaiwain (NBQ) generated AED 185.78 million in net profit after tax during the first quarter (Q1) of 2025, up 6% from AED 175.73 million in Q1-24.
Basic and diluted earnings per share (EPS) hit AED 0.09 in Q1-25, according to the financial results.
The operating income declined to AED 192.53 million in the first three months (3M) of 2025 from AED 248.38 million a year earlier.
NBQ reported 26% year-on-year (YoY) higher total assets at AED 18.60 billion as of 31 March 2025, while the customer deposits increased by 37% YoY to AED 12.16 billion.
Adnan Al Awadhi, CEO of NBQ, commented: “NBQ demonstrated impressive resilience and growth despite a challenging economic environment. Strong financial results were achieved, including higher profitability, asset growth, and an increase in customer deposits.”
“Looking ahead, NBQ is focused on expanding its market share through strategic investments in digital innovation and by diversifying its product offerings,” Al Awadhi mentioned.
He added: “Bank’s outlook for 2025 remains positive, with an ongoing focus on operational excellence, customer-centric solutions, and sustainability efforts to generate long-term value for stakeholders.”
As of 31 December 2024, NBQ recorded higher net profits after tax at AED 506.03 million, compared to AED 502.60 million in 2023.
