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UGB’s full-year net income misses expectations

February 26, 2014 2:19 am

Bahrain-based United Gulf Bank (UGB) has said its net profit for last year dropped to $4.2m from $6.7m in 2012, Gulf Daily News has reported. Net profit in for the fourth quarter also declined to $700,000, compared with $6.2m in the same quarter a year ago. Total assets at the end of 2013 rose to $1.26bn, compared with $1.23bn a year earlier, UGB said.