UAE Equity Research - United Arab Bank (UAB) 4Q24 - First Look Note
UAB’s NIMs declined 31 bps YOY and 6 bps QOQ to 2.3% in 4Q24. UAB’s operating expenses increased significantly 26.9% YOY to AED 94 Mn in 4Q24. Moreover, its cost to income ratio increased significantly from 57.3% in 4Q23 to 61.3% in 4Q24.
