According to Amac News: United Arab Bank's announcement states that the bank's net interest income has reached 354 million dirhams with 20% more per year.
According to the announcement, the growth in net profit is the result of the significant growth of the bank's total assets with an increase of 13 percent compared to December 2023, as well as a prudent approach to risk management.
The balance sheet has been significantly strengthened with a focus on quality that shows loans, advances and Islamic financing growing by 15% from December 2023.
The bank's efforts to strengthen its financial position and successfully execute its growth plan over the past few quarters have resulted in Moody's upgrading its credit rating to investment grade (Baa3).