Union National Bank squeezed more income out of its borrowers despite an overall drop in lending, the bank's financial statements for the first quarter show.
The last of the UAE's big banks to report earnings, UNB posted a 20.3 per cent rise in net profits to Dh456 million.
Income from loans and Islamic financing rose 11.5 per cent to Dh532.2m, even though net loans and advances fell 0.4 per cent to Dh56.2 billion during the first three months of the year.
Fee income, which will be limited in the coming months as a result of regulations from the Central Bank, also rose 8.5 per cent to Dh140m.
"The uncertain economic environment globally continues to impact consumer and business confidence with the demand for credit remaining muted," the bank said in a statement to the Abu Dhabi Securities Exchange.
Though impairment losses rose 25.7 per cent to Dh123.5m, recoveries of Dh53.7m which had previously been written off kept total impairments 24 per cent lower than last year at Dh69.8m.
Customers' deposits rose 2.8 per cent to Dh59.5bn.
The specs
Engine: 3.9-litre twin-turbo V8
Power: 620hp from 5,750-7,500rpm
Torque: 760Nm from 3,000-5,750rpm
Transmission: Eight-speed dual-clutch auto
On sale: Now
Price: From Dh1.05 million ($286,000)
COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
SPECS
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Company%20Profile
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Fixtures
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Singham Again
Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
Rating: 3/5
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5