Saturday, 18 November 2017 04:00 GMT
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NBQ posts Dh186.32m profit in H1

(MENAFN - Khaleej Times) Tional Bank of Umm Al-Qaiwain or NBQ on Wednesday said its 2014 first-half net profit rose to Dh186.In a statement the bank said operating income during January-June 2014 period climbed nine per cent to Dh174.6 million as against Dh160.18 million in same period last year.

According to the statement the bank’s total assets stood firm at Dh12.55 billion as at June 30 2014 while customer deposits amounted to Dh7.38 billion.

“Loans and advances portfolio amounted to Dh7.38 billion in first half and the capital adequacy ratio of 29.6 per cent as at June 30 2014 continues to be well over the minimum stipulated by the UAE central bank” the statement said adding that the bank’s share capital amounted to Dh1.68 billion while shareholders’ equity stood firm at Dh3.69 billion.

The bank has high liquidity with advances to stable resources ratio of 75 per cent as at June 30 2014 compared to 73 per cent December 31 2013 against the maximum limit of 100 per cent set the UAE central bank. Liquidity coverage ratio as per Basel III guidelines was at 164 per cent compared to the minimum stipulated ratio of 50 per cent. —muzaffarrizvikhaleejtimes.com


NBQ posts Dh186.32m profit in H1

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