Dh333M Net Profit and 27% Deposit Surge Reported by United Arab Bank
United Arab Bank reported a net profit of Dh333 million for the first nine months of 2026, marking a 6 per cent year-on-year increase as customer deposits surged 27 per cent to reach Dh18 billion. Financial markets and regional banking observers tracked the Sharjah-based lender’s financial disclosures following broad balance-sheet expansion across its core divisions.
Asset Quality Strengthens as Operating Income Rises to Dh648 Million
Total operating income climbed 12 per cent compared to the same period last year, underpinned by a 15 per cent increase in net interest income. Operating profit advanced 10 per cent through a combination of revenue growth and disciplined cost management. Total assets expanded 16 per cent to hit Dh28 billion by the end of September. Loans, advances, and Islamic financing increased 12 per cent to Dh16 billion, while investments grew 23 per cent to Dh9 billion.
Current and savings account deposits rose 61 per cent, making up 44 per cent of total customer deposits. Asset quality improved sharply during the third quarter following the resolution of delinquent accounts. The non-performing loan ratio dropped to 0.5 per cent from 2.7 per cent at the end of June, and provision coverage strengthened to 338 per cent from 101 per cent. Capital buffers remained robust, with the capital adequacy ratio standing at 20.7 per cent and the Common Equity Tier 1 ratio at 16.8 per cent. Shirish Bhide, Chief Executive Officer of United Arab Bank, stated that the performance reflects the resilience of the business model and strong core segments.
Fitch and Moody’s previously reaffirmed the bank’s investment-grade ratings with stable outlooks, following its placement as 10th globally within its peer group on the Forbes World’s Top Performing Banks list for 2026.
