Abu Dhabi – Mubasher: National Bank of Umm Al Qaiwain (NBQ) logged net profits worth AED 385.46 million in the first nine months (9M) of 2023, marking an annual surge of 48% from AED 259.92 million.
Operating income increased year-on-year (YoY) to AED 471.31 million in January- September 2023 from AED 268.90 million, according to consolidated interim financial results.
The basic and diluted earnings per share (EPS) stood at AED 0.19 as of 30 September 2023, versus AED 0.14 in the year-ago period.
Total Assets widened to AED 14.39 billion in 9M-23 from AED 13.60 billion as of 31 December 2022, whereas the customers' deposits grew to AED 8.42 billion from AED 7.86 billion.
Financial Statements for Q3-23
In the third quarter (Q3) of 2023, the bank's net profits enlarged to AED 130.33 million from AED 94.63 billion during the same period in 2022.
The operating income climbed to AED 173.88 million in Q3-23 from AED 97.59 million in Q3-22, while the basic and diluted EPS went up to AED 0.07 from AED 0.05.
Adnan Al Awadhi, CEO of NBQ, said: “Investing in technology has contributed to improved operational efficiencies and reduced cost. We have continued to prioritise exceptional customer service, leading to high levels of customer satisfaction and loyalty.”
“We are optimistic about the future and are exploring new opportunities to further strengthen our position in the market, confident that with our collective efforts and strategic initiatives, will continue to thrive in the coming years,” Al Awadhi indicated.
In the first half (H1) of 2023, the ADX-listed lender posted 54% higher net profits at AED 255.12 million, compared to AED 165.29 million in H1-22.
