UNB repays Dh1.7bn loan

Abu Dhabi's Union National Bank said on Wednesday that it had fully repaid an outstanding Dh1.7 billion ($462.8 million) loan to the United Arab Emirates' Ministry of Finance.

Under the original terms, the loan was due for repayment by the end of 2016, UNB said in a filing on Abu Dhabi's stock exchange. The bank repaid Dh1.5 billion in the first quarter of 2013.

With these payments, the bank has fully settled the subordinated loans of Dh3.2 billion which it received from the ministry in 2009, it said.