UAE's NBQ reports Dh378m profit as bad loans halve

26/10/2026 03:47 AST

National Bank of Umm Al Qaiwain (NBQ) reported a profit after tax of Dh378 million for the nine months ended September 30, 2026, citing disciplined risk management and a diversified balance sheet.

Nine-month profits fell 18.7 per cent compared with the same period last year, when the bank reported a profit of Dh465 million for January-September 2025.

Total interest income rose 11 per cent to Dh781 million, from Dh704 million a year earlier. Net interest income reached Dh469 million.

Operating expenses increased 13 per cent to Dh172 million. The cost-to-income ratio stood at 28.2 per cent.

Total assets reached Dh25.1 billion, up 10 per cent from December 2025 and 15 per cent from September 2025.

Customer deposits rose to Dh17.9 billion, up 14 per cent from December and 22 per cent year on year.

Net loans and advances stood at Dh9.6 billion, up 5 per cent from December and 10 per cent year on year.

Shareholders' equity was Dh6.7 billion, up 4 per cent from September 2025.

Asset quality and capital
The non-performing loans ratio improved to 0.4 per cent, from 0.9 per cent a year earlier. The impairment coverage ratio was 283 per cent.

The capital adequacy ratio was 29.7 per cent and the CET1 ratio 29.1 per cent. NBQ said the capital adequacy ratio is well above the minimum set by the Central Bank of the UAE under Basel III guidelines.

Adnan Al Awadhi, CEO of NBQ, said the bank had made progress on its strategic priorities despite "geopolitical uncertainty" and evolving market conditions.

He said the bank continued to invest in digital transformation, Emiratisation, leadership development and talent management.

"As we approach the final quarter of 2026, we remain focused on maintaining the strength of our balance sheet, improving business efficiency, supporting quality growth, and managing risks prudently," Al Awadhi said.

He added that NBQ is "well positioned to pursue opportunities arising from the UAE's continued economic development".

Khaleej Times