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01/03/2017 15:15 AST
UGB's profit attributable to shareholders of the parent for 2016 decreased to $6.3 million compared to $11.2 million in 2015, with a similar decrease in basic earnings per share to 0.77 cents from 1.38 cents in 2015.
"During 2016 UGB shored up its equity base through raising $33 million of Tier-1 Capital and later in October 2016 UGB successfully repaid it's $100 million Subordinated Bond to the investors on its maturity underpinning the strength of diversified liquidity sources and investor confidence on UGB's business model. From profitability perspective our diversification strategy and focus on recurring revenue stream has again proved its strength and UGB has posted another profitable result despite challenges faced by the investment banking industry," said Masaud Hayat, Chairman of UGB.
UGB's total assets stood at $3 billion as at 31 December 2016, up from $2.72 billion in 2015; while the bank's balance sheet remains strong with total equity of $529.5 million, up from 2015's $503.3 million, an increase of around 5.2 per cent. This is mainly reflective of the $33 million Additional Tier 1 Capital Facility raised during the 1Q2016. UGB's Board of Directors will not be recommending any dividends for the year ended 2016.
CPI Financial
28/09/2017
Bahrain Bourse hereby announces the delisting of United Gulf Bank (UGB) from BHB's mainboard market. Following to the Resolutions of the Extraordinary General Meeting held on 25/09/2017 and after rec
Bahrain Bourse
01/09/2015
United Gulf Bank (UGB) has announced the appointment of Hussain Lalani as the acting chief executive.
Mr Lalani, currently the chief financial officer, has been with the bank since 2002.
Gulf Daily News
23/06/2015
Capital Intelligence (CI) announced today that it has affirmed Bahrain-based United Gulf Bank (UGB)'s Long and Short-Term Foreign Currency ratings at 'BBB' and 'A3' respectively, on the grounds of th
CPI Financial
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| IHC | 401.00 | 0.00 (0.00 |
| FAB | 15.80 | 0.12 (0.76 |
| EMIRATESNBD | 21.90 | 0.65 (3.05 |
| ADCB | 12.20 | 0.30 (2.52 |
| ADIB | 18.92 | -0.46 (-2.38 |
16/05/2025
Abu Dhabi National Energy Company (TAQA), one of the largest listed integrated utilities companies in Europe, the Middle East and Africa, has delivered a 3.8% year-on-year revenue growth, reaching AE
Trade Arabia
16/05/2025
Abraj Energy Services has signed a contract with BP Oman to provide a drilling rig for operations in Block 61, with the rig expected to become operational in the fourth quarter of 2025.
The
Muscat Daily
16/05/2025
Commercial Bank, a leader in innovative digital banking solutions, has unveiled its all-new Corporate Mobile Banking App, setting a new standard for business banking in the region.
This stat
Gulf Times
16/05/2025
Emirates NBD is rolling out a new AI-driven solution to strengthen its compliance checks on payments and trade transactions, as part of a wider effort to improve safety, speed, and transparency in fi
Gulfnews
16/05/2025
In line with its leading and responsible role in the banking industry, National Bank of Kuwait continues to advance confidently towards building a sustainable future by implementing its environmental
Kuwait Times
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