ABU DHABI Feb 14 Union National Bank,
50 percent owned by the Abu Dhabi government, on Tuesday posted
a 29 percent rise in fourth-quarter net profit, missing
The fifth largest lender in the emirate by assets reported a
net profit of 251 million dirhams ($68.3 million) in the three
months to Dec. 31, compared to 195.0 million dirhams in the same
period a year ago.
Two analysts polled by Reuters forecast a quarterly profit
of 310.0 million dirhams and 373.36 million dirhams respectively
The bank’s board has proposed a 20 percent cash dividend
for 2016, the same as for 2015.
(Reporting By Stanley Carvalho, editing by William Maclean)