Recent Research

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  FIRST LOOK NOTES

  28 Oct 2026

  United Arab Bank (UAB)

  BUY

  Last Closing Price

  1.30

  Target Price

  1.60

  Upside (%)

  +23.08%

  UAE Equity Research - United Arab Bank (UAB) 3Q26 - First Look Note

  Net advances and Islamic financing increased 11.9% YOY and 3.0% QOQ to AED 15.8 Bn in 3Q26, with YTD lending growth primarily driven by financial institution clients and local corporates. CASA deposits increased 61.1% YOY to AED 8.0 Bn in 3Q26, accounting for 43.6% of total deposits.

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• 

  FIRST LOOK NOTES

  28 Jul 2026

  United Arab Bank (UAB)

  BUY

  Last Closing Price

  1.38

  Target Price

  1.60

  Upside (%)

  +15.94%

  UAE Equity Research - United Arab Bank (UAB) 2Q26 - First Look Note

  Total assets increased 16% YOY to AED 27.7 Bn in 2Q26, supported by a 25.3% YOY rise in the investment portfolio to AED 8.3 Bn. The Bank's asset quality is robust, with a gross NPL ratio of 2.7% and a provision coverage ratio of 101%, increasing to 177% with collateral in 2Q26.

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• 

  FIRST LOOK NOTES

  27 Apr 2026

  United Arab Bank (UAB)

  BUY

  Last Closing Price

  1.36

  Target Price

  1.60

  Upside (%)

  +17.65%

  UAE Equity Research - United Arab Bank (UAB) 1Q26 - First Look Note

  Net advances and Islamic financing increased by 20.9% YOY and 3.6% QOQ to AED 15.1 Bn in 1Q26, supported by robust demand across corporate and retail segments. CASA deposits increased 15.2% YOY to AED 6.2 Bn in 1Q26, representing 36.9% of total deposits.

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• 

  FIRST LOOK NOTES

  13 Feb 2026

  United Arab Bank (UAB)

  HOLD

  Last Closing Price

  1.47

  Target Price

  1.60

  Upside (%)

  +8.84%

  UAE Equity Research - United Arab Bank (UAB) 4Q25 - First Look Note

  Net advances and Islamic financing rose 26.3% YOY and 3.1% QOQ to AED 14.6 Bn in 4Q25, driven by strong corporate demand, higher FI financing, retail mortgage growth, and expanding Islamic financing.

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• 

  FIRST LOOK NOTES

  30 Oct 2025

  United Arab Bank (UAB)

  HOLD

  Last Closing Price

  1.20

  Target Price

  1.25

  Upside (%)

  +4.17%

  UAE Equity Research - United Arab Bank (UAB) 3Q25 - First Look Note

  The bank raised AED 1.03 Bn through right issue in 3Q25, resulting in an improvement in its CET1 ratio to 18.5% and CAR to 22.8% in 3Q25. Net funded income increased 35.6% YOY to AED 151 Mn in 3Q25, supported by a strong growth in average interest-earning assets, partially offset by a decline in asset yield.

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• 

  FIRST LOOK NOTES

  22 Aug 2025

  United Arab Bank (UAB)

  HOLD

  Last Closing Price

  1.17

  Target Price

  1.23

  Upside (%)

  +5.13%

  UAE Equity Research - United Arab Bank (UAB) 2Q25 - First Look Note

  Net funded income increased 42.8% YOY to AED 158 Mn in 2Q25, supported by a rise in interest income, a decline in interest expenses, and a one-off boost from a net interest income adjustment following the adoption of Credit Risk Management Standards introduced by the CBUAE.

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