United Arab Bank (UAB) has posted a net profit of AED333 million ($90.7 million) for the first nine months (9M) of 2026, up 6% year-on-year.
This demonstrates the resilience of its business model and prudent risk management practices amidst ongoing regional geopolitical uncertainty and an overall challenging operating environment, an Emirates News Agency (WAM) report said.
This was driven by continued growth in operating income by 12% year-on-year, complemented by disciplined expense management and reversal in impairment charges as a result of successful resolutions of delinquent loans.
Asset growth
Total assets grew by 16% year-on-year to AED28 billion, supported by growth in loans, advances, and Islamic financing, which increased 12% to AED16 billion, while investments increased 23% to AED9 billion. Customer deposits rose 27% year-on-year to AED18 billion.
Asset quality metrics significantly improved during the quarter as a result of successful resolution of delinquent loans.
The non-performing loans ratio (NPL) improved to 0.5% from 2.7% at end-June 2026, with provision coverage strengthening to 338% from 101% at end-June 2026.
The bank's liquidity and capital position remained strong and within the regulatory requirements, with an advances-to-stable-resources ratio (ASRR) of 72%, eligible liquid asset ratio (ELAR) of 15%, total capital adequacy ratio of 20.7% and a CET1 ratio of 16.8%.
Strength and resilience
Shirish Bhide, Chief Executive Officer of UAB, said: “Our performance reflects the strength and resilience of our business model supported by the strong results delivered by our core business segments. We have continued to strengthen our position in the banking sector, deepen our client relationships and laid the foundations for the next phase of our growth and development.
"We continue to enhance the customer experience by further developing our digital capabilities, diversifying our products and solutions, and delivering more integrated banking services. These efforts enable us to deliver solutions that respond to our clients’ evolving needs and meet their growing requirements for greater efficiency and flexibility in conducting banking transactions and managing their businesses," he added.
"UAB’s ranking of 10th globally in its peer group in Forbes’ World’s Top Performing Banks 2026 represents international recognition of the continued progress the bank is making in its performance and execution of its strategy. As we enter the final quarter of the year, we remain focused on accelerating innovation and digital transformation, enhancing operational efficiency, and strengthening our governance and risk management frameworks to support the bank’s sustainable performance and long-term growth.”—TradeArabia News Service
