Abu Dhabi – Mubasher: National Bank of Umm Al Qaiwain (NBQ) on Monday reported a 10.62% year-on-year increase in net profit for 2018.

Net profit amounted to AED 409.02 million last year, compared to AED 369.75 million in 2017, according to a filing to the Abu Dhabi Securities Exchange (ADX).

Earnings per share stood at AED 0.22 at the end of 2018, versus AED 0.2 a year earlier.

Moreover, the bank logged AED 746.96 million in revenue last year, versus AED 636.66 million for 2017.

Total assets rose slightly to AED 14.66 billion in 2018 from AED 14.12 billion, while shareholders’ equity increased to around AED 4.46 million from AED 4.17 million.

Meanwhile, customer loans and advances totalled AED 8.92 billion and customer deposits reached AED 9.76 billion.

The ADX-listed bank has maintained solid liquidity of 33.71% in 2018, as well as continued a positive capital adequacy ratio and tier 1 ratio at 36.73% and 35.59%, respectively.

NBQ previously posted a 30.14% surge in net profit for the third quarter of 2018, recording AED 98 million, versus AED 75.3 million in Q3-17.

In the first nine months of 2018, the bank generated around AED 335.8 million in net profit, compared to AED 285.9 million in the corresponding period of 2017.