Sharjah, United Arab Emirates – United Arab Bank, listed on the Abu Dhabi Securities Market, announced its success in raising 1.031 billion dirhams through the priority rights issuance process that concluded last July 29, after obtaining all necessary regulatory approvals.
The transaction resulted in raising the bank’s issued and paid-up capital from AED 2.062 billion to AED 3.093 billion through the issuance of new shares at an issuance price of one AED per share.
The subscription process witnessed a wide turnout from shareholders, reflecting their confidence in the bank’s performance and its strategy for transformation and sustainable growth. United Arab Bank intends to use the net proceeds resulting from the subscription to strengthen the capital base and support the growth of its future business.
His Excellency Sheikh Mohammed bin Faisal bin Sultan Al Qasimi, Chairman of the Board of Directors of United Arab Bank, stressed that the success achieved in issuing priority rights embodies the confidence of shareholders and the strength of the bank’s financial position, explaining that this step represents a new beginning in the bank’s journey towards achieving further growth and enhancing its contribution to supporting the national economy.
He expressed his thanks and appreciation to the Central Bank of the United Arab Emirates, the Securities and Commodities Authority, the Abu Dhabi Securities Market, and all partners for their cooperation and support, which played a pivotal role in the success of this process.
For his part, Sharish Bedeh, CEO of United Arab Bank, explained that the success of the priority rights issuance process reflects shareholders’ confidence in the bank’s future plans, stressing that the additional capital will support the next phase of the bank’s strategy and enhance its readiness to meet regulatory requirements and customer aspirations and achieve rewarding returns for shareholders.
United Arab Bank recorded net profits of 208 million dirhams during the first half of 2025, an increase of 50% compared to the same period in 2024, while total income increased by 24% to reach 374 million dirhams.
