DUBAI May 12 Abu Dhabi's Union National Bank
(UNB) posted a 3.5 percent rise in first-quarter net
profit on Monday, beating the estimates of analysts who had
expected its earnings to shrink.
The bank made a profit of 512.1 million dirhams ($139.4
million) in the quarter, up from 494.9 million dirhams a year
earlier, it said in a statement.
Six analysts polled by Reuters had on average forecast that
UNB's profit would fall 3.9 percent, although their forecasts
were based on a slightly different figure that excludes profit
owed to minority shareholders of the bank's subsidiaries.
Under this figure, net attributable profit, UNB's net profit
rose 3.6 percent to 509.1 million dirhams.
($1 = 3.6730 UAE Dirhams)
(Reporting by Olzhas Auyezov; Editing by David French)