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UAE lender UNB beats forecasts slightly with 5.6 pct Q2 profit gain
July 20, 2014 / 6:17 AM / in 3 years

UAE lender UNB beats forecasts slightly with 5.6 pct Q2 profit gain

DUBAI, July 20 (Reuters) - Union National Bank (UNB), 50 percent owned by the Abu Dhabi government, slightly beat analysts’ forecasts on Sunday with a 5.6 percent rise in second-quarter net profit.

The fifth-largest lender on the Abu Dhabi exchange by market value reported a net profit of 515.6 million dirhams ($140.4 million) for the three months to June 30, up from 488.3 million dirhams in the same three-month period last year, a bourse filing said.

Five analysts polled by Reuters had forecast an average profit of 499.6 million dirhams for the quarter. ($1 = 3.6727 United Arab Emirates Dirhams) (Reporting by David French; Editing by Andrew Torchia)

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