Abu Dhabi- Mubasher: Union National Bank (UNB) reported a 27% decline in Q1 profits of 2016 as compared to the same quarter in 2015, according to an issued statement.
UNB’s earnings shrank to AED 450 million ($122.5 million) in Q1-16, compared to AED 614.9 million ($167.37 million) in Q1-15.
Gross operating revenues decreased 13% to AED 812.5 million ($221.21 million) in Q1-16, from AED 934.7 million ($254.48 million) in Q1-15.
The UAE bank’s customer deposits grew 3% to AED 72.1 billion ($19.63 billion) from AED 69.7 billion ($18.98 billion).
