Cairo – Mubasher: Union National Bank-Egypt (UNB) said its fiscal first quarter net profit rose 22% year-over-year to EGP40.04 million ($4.50 million) from EGP32.91 million ($3.7 million), according to a bourse filing.

Earnings per share also inched up to 15 piasters in the first quarter of 2016 against 13 piasters for the year-ago quarter.

The bank earlier reported EGP160.1 million profits for 2015, compared to EGP63.1 million in 2014.

In 2015 as well, its extraordinary general meeting approved bonus share distribution at 1-for-20, totaling EGP63.7 million over EGP11.375 million shares at EGP5.6 each.