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- Dubai 04:56 06:10 12:26 15:53 18:37 19:52
Union National Bank, 50 per cent owned by the Abu Dhabi government, posted a 20 per cent rise in first-quarter net profit on Monday, beating analysts' forecasts.
The fifth largest lender on the Abu Dhabi exchange by assets reported a net profit attributable to equity holders of Dh610.8 million ($166.29 million) in the three months to March 31, up from Dh509.1 million a year earlier, a bourse filing said.
Five analysts polled by Reuters forecast an average profit of Dh547.4 million.
UNB had loans and advances worth Dh66.94 billion at March-end, up from Dh64.07 billion a year ago.
Customer deposits were Dh69.68 billion as of March 31. This compares with Dh67.44 billion 12 months earlier.
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