Press Release
UAB REPORTS NET PROFIT OF AED 119 MILLION
FOR THE FIRST NINE MONTHS OF 2022
Q3 YTD 2022 Highlights:
United Arab Bank (UAB) has announced a net profit of AED 119 million for the nine-month period ended
September 30, 2022, an increase of 166 percent over the corresponding period of 2021, which exhibits
its resilient business strategy.
 4% growth in total operating income in Q3 YTD 2022 as compared to Q3 YTD 2021.
 Operating Profit increased by 7% vs. Q3 YTD 2021.
 Provisions for Credit Losses decreased by 57% vs. Q3 YTD 2021.
 Adequate liquidity profile with UAB comfortably above regulatory requirements: Advances to stable
resources ratio of 88% and an eligible liquid asset ratio of 17%.
 Capital remains above regulatory requirements with CET1 ratio at 12.3% and Capital Adequacy Ratio
(CAR) at 13.5%.
 Provision coverage reported at 123% whereas NPL ratio has reduced to 10.3% from 14.4% in Q3
2021
Sharjah, UAE, 09 November 2022 - United Arab Bank P.J.S.C ("UAB" or "the Bank") announces its Financial
Results for the nine months ended September 30, 2022.
UAB posted a Net Profit of AED 119 million for Q3 YTD 2022 as compared to Net Profit of AED 45 million
in Q3 YTD 2021 representing a year-on-year increase of 166%.
The growth in net profit is a result of improved operating performance and lower expected credit losses
and a prudent approach to risk management which resulted in lower cost of risk.
UAB’s financial performance was aided by a significant progress within the ‘core’ businesses recording a
7% increase in Operating Profit compared to Q3 YTD 2021. Total Income increased by 4% comparing to
the same period in 2021.
The Balance Sheet has been significantly strengthened with a focus on quality assets which resulted in
recording 57% reduction in Provisions compared to the Q3 YTD 2021. These results provide further
evidence that the Bank is well positioned to set sail on its growth journey.
Commenting on the bank’s financial results, H.E. Sheikh Faisal bin Sultan bin Salem Al Qassimi, Chairman
of the Board of Directors, UAB, said: “We are pleased with the financial performance of the bank for the
first nine months of 2022. The bank returned to profitability due to the execution of an effective strategy.
The bank is moving ahead according to a well-thought-out strategy that supports growth and
shareholders' expectations. We are confidently looking forward to the future and continuously developing
our business model and activities in line with our sustainable growth strategy in the UAE.”Press Release
Shirish Bhide, Chief Executive Officer of United Arab Bank, commented: “We will pursue our ambitious
vision relentlessly and accelerate the pace of investments in our growth strategy whilst upholding the
highest standards of compliance and internal controls commensurate with the dynamic regulatory
framework and cyber security requirements.”
He added: "Our customers remain at the heart of our growth strategy, and we will continue to invest in
developing the bank’s digital platforms to increase competitiveness and create a more efficient, resilient
and seamless service at a pace that suits our customers’ expectations.”
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For further information, please contact:
Sirine El Merhebi
Marketing & Corporate Communications Department
Direct Line: +971 6 507 5415
Mobile: +971 556072929
sirine.elmerhebi@uab.ae

Sentiment: positive