Abu Dhabi – Mubasher: Union National Bank (UNB) on Tuesday reported a 15% increase in net profit during the fourth quarter of 2017.
the lender’s net profit registered AED 289 million in Q4-17, compared to AED 251 million in the year-ago period, according to a filing to the Abu Dhabi Securities Exchange (ADX).
Net profit rose 5% to AED 1.66 billion in 2017 versus AED 1.58 billion a year earlier.
Operating revenue also increased by 4% to record AED 3.63 billion against AED 3.4 billion in 2016, UNB’s data showed.
The UAE-based bank’s board recommended the distribution of 20% of its capital or AED 0.2 per share in cash dividends, which amount to AED 550 million.
