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UNB AGM.

UNB AGM approves cash dividend of 15% and bonus shares of 5%

: Tuesday, April 29 - 2014 @ 14:59

Union National Bank (UNB), one of the UAE’s leading local bank held the Annual General Meeting of its shareholders on 28 April 2014 in Abu Dhabi. The shareholders of UNB in the meeting approved the Board of Directors’ recommendation to distribute cash dividend of 15% and bonus shares of 5%.

The consolidated profit for UNB was Dhs 1,748 million for the year 2013, an increase of 9% compared to the corresponding figure for the previous year. The operating income increased by 4% in 2013 to reach Dhs3,212 million. Customers’ deposits reached Dhs 65.1 billion as at 31 December 2013 from Dhs 63.4 billion as at 31 December 2012, an increase of 3% whilst loans and advances increased by 5% to reach Dhs 60.0 billion as at 31 December 2013 from Dhs 57.3 billion as at 31 December 2012.

The UNB Group remains financially at a very firm footing and over the years has received numerous awards and recognition, internationally, regionally and locally including prestigious Sheikh Khalifa Excellence Award in Diamond Category and Dubai Quality Award in Gold Category, becoming the first Bank to receive such recognition.

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Tuesday, April 29- 2014 @ 14:59 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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