Now Reading
Abu Dhabi Bank UNB Posts 42% Q4 Net Profit Gain; Hikes Dividend

Abu Dhabi Bank UNB Posts 42% Q4 Net Profit Gain; Hikes Dividend

The bank reported a net profit of Dhs436 million ($118.7 million) in the last quarter of 2014.

Union National Bank, 50 per cent owned by the Abu Dhabi government, posted a 42 percent rise in fourth-quarter net profit on Tuesday, just missing analysts’ forecasts.

The fifth-largest lender in the emirate by assets reported a net profit of Dhs436 million ($118.7 million) in the final three months of 2014, up from Dhs306 million a year earlier, a bourse filing said.

Four analysts polled by Reuters forecast an average profit of Dhs442.7 million.

Full-year net profit for 2014 was Dhs2.02 billion, a rise of 16 per cent from 2013.

The bank said its board of directors proposed a cash dividend of Dhs0.25 per share for 2014. That compared with a cash dividend of Dhs0.14 per share for the previous year, according to Thomson Reuters data.

© 2020 MOTIVATE MEDIA GROUP. ALL RIGHTS RESERVED.

Scroll To Top