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SHARJAH / EMIRATES BUSINESS
The United Arab Bank (UAB), announced its financial results for the nine months ending September 30. Performance in the third quarter reflects continued positive traction against the bank’s transformation strategy.
Aided by a substantial 44% reduction in Provisions for Credit Losses, stable Non-Interest Income and material cost savings from its streamlined operating model, UAB recorded a Net Profit of AED88m for Q3 2016, 22% uplift against the prior year.