NBQ reports 2023 earnings

National Bank of Umm Al Quwain’s (NBQ) net income surged 38% y-o-y to AED 502.6 mn in 2023, according to the bank’s preliminary financial statements (pdf). Net revenues rose 59.4% y-o-y to AED 954.9 mn, while total assets inched up by 8.6% y-o-y to AED 14.78 bn during the year, the bank said.