Despite of adverse interest rate environment, the National Bank of Umm Qaiwain (NBQ) on Tuesday said that its profit after tax amounted to $85.49 million, an increase of 10%, while the gross revenue of $175.06 million, which grew 8%, and net Interest Income amounted to $84.13 million, in the first six months of this year.
The bank’s non-interest income of $51.73 million grew by 37% and operating expenses increased by 9% to $25.32 million, NBQ said in a disclosure with Abu Dhabi Securities Exchange (ADX) this morning.
The bank’s total assets stood at $5.5 billion as at 30 June 2025, an increase of 13 % from Dec 2024, and an increase of 29 % from June 2024. The net loans and advances reached at $22.75 billion, an increase of 7% from Dec 2024 and an increase of 13 % from June 2024.
The customer deposits reached $3.626 billion, an increase of 17 % from Dec 2024 and an increase of 41 % from June 2024.
NBQ follows a prudent policy in building credit provisions. Collateral and specific provision coverage to the tune of 333 % is maintained for non-performing loans and this reflects prudent and effective monitoring of loans and advances portfolio.
Solid Performance
NBQ’s CEO Adnan Al Awadhi said that NBQ has delivered solid performance marked by higher profitability, asset growth, and increased customer deposits. The bank’s strong capital position and liquidity ratios reinforce its commitment to financial stability and sustainable growth.
He said that the key achievements for H1 included the launch of NBQ’s digital banking platform, a major milestone in the bank’s digital transformation journey and Aani, an Instant payment platform. The platform is aimed at enhancing customer experience and streamlining services.
In parallel, NBQ continued to invest in technology to boost operational efficiency and made significant progress in risk management and regulatory compliance, proactively managing potential risks in a dynamic market.
“Looking ahead, NBQ remains focused on expanding its market share through strategic investments in digital innovation and diversifying its product offerings. The bank maintains a positive outlook for the rest of 2025, driven by a focus on operational excellence, customer-centric solutions, and sustainability,” he said.
He also expressed his gratitude to shareholders, employees, and customers for their continued trust and support, reaffirming NBQ’s commitment to long-term value creation and growth.
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