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UAE's Union National Bank Q1 2017 profit flat, beats estimates
April 12, 2017 / 9:30 AM / 8 months ago

UAE's Union National Bank Q1 2017 profit flat, beats estimates

ABU DHABI, April 12 (Reuters) - Union National Bank , 50 percent owned by the Abu Dhabi government, on Wednesday reported flat first quarter profit, but beat analysts forecasts.

The fourth-largest lender in the emirate by assets reported a net profit of 452 million dirhams ($123.16 million) in the three months to March 31, compared to 450.0 million dirhams in the same period a year ago.

Net profit attributable to equity holders of the bank in first quarter 2017 was 449.30 million dirhams versus 447.25 million dirhams in the prior-year period.

Three analysts polled by Reuters forecast a quarterly average profit of 443.62 million dirhams. (Reporting By Stanley Carvalho; Editing by Saeed Azhar)

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