NBQ posts Dh152m after-tax profit in Q1, helped by net interest income, cost management

20/04/2026 04:48 AST

National Bank of Umm Al Qaiwain (NBQ) posted an after-tax profit of Dh152 million in the first quarter of 2026, supported by strong core fundamentals, disciplined cost management, and a balanced approach to sustaining long-term growth.

Total interest income showed robust growth of 11 per cent to Dh246 million, while net interest income rose 4 per cent to Dh153 million.

Total assets stood at Dh23.2 billion as of March 31, 2026, an increase of 1 per cent from December 2025 and 24 per cent from March 2025.

Net loans and advances reached Dh8.3 billion, a rise of 2 per cent compared to March 31, 2025, while customer deposits rose 34 per cent year-on-year to Dh16.3 billion over the same period. Shareholders' equity stood at Dh6.3 billion, an increase of 6 per cent from March 2025.

The lender said its capital adequacy ratio stood at 31 per cent as of March 31, 2026, which continues to be well above the minimum threshold stipulated by the Central Bank of the UAE in accordance with Basel III guidelines.

The non-performing loans ratio reached 0.43 per cent as of March 31, 2026, compared to 0.31 per cent as of December 31, 2025, and 3.74 per cent as of March 31, 2025.

"During the quarter, NBQ maintained a solid balance sheet, supported by healthy liquidity positions and robust capital adequacy levels. This strength enabled the bank to continue supporting its customers across key segments while maintaining a cautious and well-managed risk profile," said Adnan Al Awadhi, CEO of National Bank of Umm Al Qaiwain.

Al Awadhi stated that digital transformation remained a central focus in Q1 2026.

"NBQ enhanced its digital banking platforms, improved customer experience through upgraded mobile services, and continued to automate key operational processes. These initiatives contributed to increased efficiency, stronger customer engagement, and reinforced NBQ's competitive position in the market," he said.

"NBQ continued to invest in its workforce and community engagement, aligning with national objectives and long-term value creation. Risk management continued to play a critical role, with the bank maintaining a prudent and proactive approach amid evolving market dynamics and interest rate conditions. This disciplined framework has supported stability while enabling measured growth," he stated.

Looking ahead, Al Awadhi remains cautiously optimistic for the remainder of 2026.

"With a clear strategic direction, a resilient business model, and a strong commitment to innovation and customer service, the bank is well-positioned to build on its momentum and deliver sustainable value to its stakeholders," he concluded.

Khaleej Times