Abu dhabi: United Arab Bank (UAB), listed on the Abu Dhabi Securities Exchange (ADX), announced the successful completion of its capital increase, which ended on July 29, 2025. The Rights Issue raised AED1.031 billion, increasing the Bank’s issued capital from AED2.062 billion to AED3.093 billion. The newly issued shares were priced at AED 1 per share. All necessary regulatory approvals have been obtained for this transaction.
According to Emirates News Agency, the Rights Issue was oversubscribed, underscoring UAB’s robust fundamentals and strong performance as a result of the diligent execution of its turnaround strategy. United Arab Bank intends to use the net proceeds raised from the Rights Issue to strengthen its capital base and to support future growth of the business of the Bank.
Commenting on the Rights Issue success, H.H. Sheikh Mohammed bin Faisal bin Sultan Al Qassimi, Chairman of the Board of Directors of United Arab Bank, expressed gratitude for the trust and support of the shareholders. He noted that the strong response would further strengthen the balance sheet, mark a new chapter in UAB’s progress, and reaffirm the commitment to delivering value to shareholders. Additionally, it would enhance financial resilience and position the bank to continue contributing to the UAE economy and its sustainable development agenda.
He also extended appreciation to the Central Bank of the UAE (CBUAE), the Securities and Commodities Authority (SCA), the Abu Dhabi Securities Exchange (ADX), and all transaction partners whose support and collaboration were instrumental in ensuring the success of this Rights Issue.
Shirish Bhide, CEO of United Arab Bank, remarked that the success of the Rights Issue reflects the confidence shareholders have in the Bank and its future endeavors. This step represents an important milestone in strengthening UAB’s capital position and reinforces its long-term commitment to sustainable growth. The additional capital will support the next phase of the strategy, ensuring the bank is well-positioned to meet evolving regulatory requirements, support clients’ needs, and deliver sustainable returns to shareholders.
UAB posted a net profit of AED208 million for the first half of 2025, compared to AED139 million for the same period last year, representing a 50% year-on-year increase. Total income rose by 24% year-on-year to AED374 million.