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Union National Bank shares soar on Q1 profit
- United Arab Emirates: Wednesday, April 17 - 2013 at 15:52
The Abu Dhabi market gauge ADXGI fell the third session straight Wednesday, ending down 0.12% at 3,090.51 points. Union National Bank or UNB jumped 3.82% to hit Dhs4.08. Earlier in the day, UNB said its profit in the first quarter increased 4.22% year-on-year to reach Dhs498.82m. UNB said the operating profit for the first quarter of the year was Dhs628m (Q1-2012: Dhs597m), an increase of 5.2% compared to that for the prior period. The operating income for the three month period ended 31 March 2013 of Dhs818m (Q1-2012: Dhs782m) was up by 4.7% compared to that for the prior period principally due to an increase in net interest income and income from Islamic financing.
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Gérard Al-Fil, Financial JournalistWednesday, April 17 - 2013 at 15:52 UAE local time (GMT+4)
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