United Arab Bank raises $272m loan to boost balance sheet
The UAE’s United Arab Bank has raised AED 1 billion ($272 million) from a term loan facility, part of efforts to strengthen its balance sheet.
Proceeds from the two-year senior unsecured dual tranche loan will be used for general corporate purposes, the bank said in a statement.
This “facility is a timely addition to our funding base,” UAB’s chief executive Shirish Bhide was quoted as saying.
The transaction will enhance the Sharjah-based bank’s liquidity position and funding flexibility to pursue growth, he added.
Abu Dhabi Commercial Bank, Emirates NBD, Emirates Islamic Bank and First Abu Dhabi Bank were the lead arrangers and bookrunners. Emirates NBD acted as the global facility agent.
In August, the bank raised AED 1.03 billion in rights issued to strengthen its capital base and spur growth.
UAB’s net profit jumped by 50 percent on year to AED 316 million ($86 million) in the nine months to September 2026. Total income rose to AED 580 million ($157 million) for the period, up 28 percent on year.
The bank is rated Baa2 by Moody’s and BBB+ by Fitch.
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