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27 January 2015
Key Highlights
- UNB Group profit of AED 2,021 million for 2014 sets a new profit record
- Board of Directors recommends 25% (AED 0.25 per share) cash dividend subject to approval of the Central Bank of the UAE and shareholders of the Bank
- Operating income up by 9% to AED 3,501 million in 2014
- Loans and advances of AED 64.1 billion as at 31 December 2014, up by 7% year-on-year
- Total assets of AED 93.5 billion as at 31 December 2014, up by 7% year-on-year
- Customers' deposits base of AED 67.4 billion as at 2014 year end, up by 4% over prior year
- Sound liquidity with loan to deposit ratio of 95.1% as at 31 December 2014
- Cost to income ratio of 27.3% for 2014 consistently amongst the best in the UAE banking sector
- Continually improving asset quality measures with NPLs to gross loans ratio of 3.8% and loan loss coverage of 97.2% as at 31 December 2014
- Strong capital ratios with overall and Tier 1 capital adequacy ratio of 19.9% and 18.7% respectively as at 31 December 2014
Read the full report here.
-Ends-
© Press Release 2015