Cairo – Mubasher: Union National Bank – Egypt (UNB) on Sunday reported a 12.7% year-on-year decline in net profit for the first half of 2018, recording EGP 136.2 million from EGP 156.1 million.
Interest income rose to EGP 1.6 billion in the six-month period ended last June, versus EGP 1.19 billion in the year-ago period, the bank said in a filing to the Egyptian Exchange (EGX).
The bank’s total deposits increased by 4% to EGP 25.6 billion in H1-18, compared to EGP 24.5 billion in H1-17.
Total loans at the bank amounted to EGP 11.6 billion at the end of June, versus EGP 10.17 billion in the corresponding period of 2017.
UNB previously posted a 23.6% year-on-year drop in net profit for the first quarter of 2018, registering EGP 60.04 million from EGP 78.5 million.
It is worth noting that the bank’s financial indicators had shown that profits soared 111% to EGP 380 million in 2017, compared to EGP 180.5 million a year earlier.
