Published On: Wed, Jan 28th, 2015

Union National Bank announces record profit of AED 2,021 million for 2014, up by 16%

Union National Bank announces record profit of AED 2,021 million for 2014, up by 16%

Union National Bank announces record profit of AED 2,021 million for 2014, up by 16%

Union National Bank (UNB) reported another year of record profit with the UNB Group profit being AED 2,021 million for the fiscal 2014 (2013: AED 1,748 million), an increase of 16% compared to the prior year.

Equally impressive, was the profit for the fourth quarter of 2014 of AED 436 million (Q4-2013: AED 306 million), up sharply by 42% compared to the same quarter of 2013.

Commenting on the results, Mr. Mohammad Nasr Abdeen, Chief Executive Officer, Union National Bank, said “The UNB Group surpassed a major profit milestone, with the Group’s profit for the full year exceeding AED 2.0 billion for the first time. The consistent growth in underlying business, focussed strategy and our deep commitment to all our stakeholders has ensured that the UNB Group continues to grow its business and franchise.” He added that “The Group over the last many years has continued to record remarkable progress and is presently particularly well poised to further build on its successes in the future.”

Source : WAM News Agency for United Arab Emirates

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