Dh105m 9-month net profit for UAB

United

Arab Bank has reported net profits of Dh105 million for nine months ending September, a lift of 111 per cent compared to the same period last year.

This was primarily driven by growth in core income and a reduction in provision charges after transitioning to a lower risk business model.

Nine-month income was Dh501 million, with income generated from core businesses up 2 per cent over third quarter 2017. Operating expenses were Dh246 million, down 4 per cent year-on-year. (WAM)