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DUBAI / Emirates Business
Noor Bank, one of the leading Shari’ah-compliant banks in the UAE, has announced a net profit of AED217 million in Q1 2019, an increase of eight per cent over the same period last year and 220 per cent on last quarter.
The Bank’s top-line revenue also rose by eight per cent during the period under review, with all business lines reporting strong performance in line with 2019 growth plans. Annualised return on shareholders’ equity hit 17.7 per cent.
The bank’s asset quality continued to improve, backed by the higher provision coverage ratio at 155 percent and impaired financing ratio at 4.5 percent. Meanwhile, the eligible liquid asset ratio reached 17.5 percent, and the capital adequacy ratio hit 16.9 percent.