Union National Bank , jointly owned by the governments of Abu Dhabi and Dubai, posted a 23-percent rise in second-quarter net profit, beating analysts forecasts, as higher impairment losses were offset by a surge in net interest income.
The Abu Dhabi-headquartered lender earned a net profit of 415.3 million dirhams ($113.35 million) in the second quarter, compared with 337.38 million in the same period one year earlier.
Analysts polled by Reuters forecasted an average profit of 388.83 million dirhams in the second quarter.
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