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  • UAE Flag
    FIRST LOOK NOTES
    30 Oct 2025
    United Arab Bank (UAB)
    HOLD
    AED 1.20
    AED 1.25
    +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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  • UAE Flag
    FIRST LOOK NOTES
    22 Aug 2025
    United Arab Bank (UAB)
    HOLD
    AED 1.17
    AED 1.23
    +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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  • UAE Flag
    FIRST LOOK NOTES
    21 Jul 2025
    United Arab Bank (UAB)
    NOT RATED
    AED 1.20
    AED 0.00
    NA

    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 adjustment following the adoption of Credit Risk Management Standards introduced by the CBUAE.
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  • UAE Flag
    FIRST LOOK NOTES
    01 May 2025
    United Arab Bank (UAB)
    REDUCE
    AED 1.40
    AED 1.25
    -10.71%

    UAE Equity Research - United Arab Bank (UAB) 1Q25 - First Look Note

    Net funded income declined 11.2% YOY to AED 290 Mn in 1Q25 due to interest rate cuts implemented in 2H24, partially offset by higher lending growth. Non-funded income expanded 53.2% YOY to AED 48 Mn in 1Q25, attributed to enhanced product proposition, cross-selling and gain on sale of properties.
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  • UAE Flag
    FIRST LOOK NOTES
    29 Apr 2025
    United Arab Bank (UAB)
    REDUCE
    AED 1.40
    AED 1.25
    -10.71%

    UAE Equity Research - United Arab Bank (UAB) 1Q25 - Earnings Flash

    UAB reported a significant 49% year-on-year (YoY) increase in net profit to AED 102 Mn in 1Q25, up from AED 68 Mn in 1Q24. This marks the highest quarterly profit in a decade, driven by stronger operating performance and a net reversal of impairment charges, reflecting successful execution of the bank’s strategic initiatives.
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  • UAE Flag
    FIRST LOOK NOTES
    10 Feb 2025
    United Arab Bank (UAB)
    SELL
    AED 1.49
    AED 1.10
    -26.17%

    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.
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  • UAE Flag
    FIRST LOOK NOTES
    25 Oct 2024
    United Arab Bank (UAB)
    HOLD
    AED 1.10
    AED 1.10
    NA

    UAE Equity Research - United Arab Bank (UAB) 3Q24 - First Look Note

    Net advances grew strongly 39.6% YOY and 3.1% QOQ to AED 10.8 Bn in 3Q24 mainly due to the strong growth in retail and wholesale loans with a strong business pipeline in place. NPLs declined from 6.4% in 2Q24 to 4.1% in 3Q24 due to recoveries and settlement.
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  • UAE Flag
    FIRST LOOK NOTES
    29 Jul 2024
    United Arab Bank (UAB)
    HOLD
    AED 1.12
    AED 1.10
    -1.79%

    Strong recoveries and increased lending boosted profitability

    UAB’s net advances grew 37.6% YOY and 9.4% QOQ to AED 10 Bn in 2Q24, while the investment portfolio grew 2% on a 2024 YTD basis to AED 5 Bn in 2Q24.
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  • UAE Flag
    FIRST LOOK NOTES
    06 May 2024
    United Arab Bank (UAB)
    HOLD
    AED 1.11
    AED 1.10
    -0.90%

    Strong growth in liquidity supported loan growth

    United Arab Bank PJSC (“UAB”/ “The Bank”) net profit grew 24.6% YOY to AED 68 Mn in 1Q24, higher than our estimate of AED 58 Mn.
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