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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 | 399.50 | 0.00 (0.00 |
| FAB | 16.50 | 0.10 (0.60 |
| EMIRATESNBD | 26.15 | 0.90 (3.56 |
| INVESTB | 0.45 | 0.00 (0.00 |
| ADCB | 14.84 | 0.10 (0.67 |
19/12/2025
In a move to consolidate its global network of destinations and provide diverse travel options to its valued customers, Kuwait Airways has announced the strengthening of its codeshare agreement with
Kuwait Times
19/12/2025
Ajman Bank has launched a digital extension to expand its bouquet of smart, customer-centric banking services.
The Digital Extension has been designed to provide customers with seamless acce
Khaleej Times
19/12/2025
Tecom Group PJSC, the creator of specialised business districts and communities in Dubai, has launched Phase 4 of Innovation Hub in Dubai Internet City to address rising demand for Grade-A office spa
Khaleej Times
19/12/2025
Acwa Power, the world's largest private water desalination company, leader in energy transition and first mover into green hydrogen, has signed a co-operation framework with the African Development B
Trade Arabia
19/12/2025
Saudia Cargo and the Saudi Export Development Authority inked a strategic memorandum of understanding, in a move set to accelerate the international reach of non-oil goods.
The agreement, si
Arab News
Financial Information Co.
Saudi Arabia