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