The General Assembly of the National Bank of Umm Al Qaiwain approved the proposal of the Board of Directors regarding the distribution of cash dividends to shareholders at the rate of 8% of the capital, with a total of 147.84 million dirhams for the year 2021.
The profits of Umm Al Quwain National Bank, one of the small banks in the UAE, increased by 25% to 264.2 million dirhams by the end of 2021, compared to profits of 211.8 million dirhams achieved during the same period in 2020.
Total revenues amounted to 442.48 million dirhams for the year ended December 31, 2021, and the operating income for the last year was 256.11 million dirhams, and the cost-to-income ratio was 34.81%, which reflects the bank’s operational efficiencies and disciplined management of costs.
On the other hand, the Board of Directors recommended the bank to distribute cash dividends to shareholders at the rate of 8% (equivalent to 8 fils per share) of the capital for the year 2021.
