Abu Dhabi lender UNB's Q2 profit rises 7.2 pct | Reuters

Abu Dhabi lender UNB's Q2 profit rises 7.2 pct | Reuters:

"Abu Dhabi's Union National Bank on Sunday reported a 7.2 percent percent rise in second-quarter profit helped lower provisions and reduced funding costs, beating analysts' expectations.

The lender, jointly owned by the governments of Abu Dhabi and Dubai, posted a profit of 488.3 million dirhams ($132.95 million) in the second quarter to June 30, up from 455.7 million dirhams in the prior-year period, it said in a bourse statement.

Analysts had forecast average profit of 474.23 million dirhams for the quarter in a Reuters poll."

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