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UNB-Egypt profits up three-fold in six months

UNB-Egypt profits up three-fold in six months
Photo Credit: Arabianeye-Reuters

Cairo – Mubasher:Union National Bank(UNB) - Egypt reported nearly three-fold increase in its net profits for the six-month period ended July 2015.

The lender's net profits jumped 307% to EGP 71.75 million for this period of 2015, compared with EGP 17.64 million for the same period of the previous year.

UNB profits stood at EGP 32.9 million for the first quarter of 2015, compared with EGP 4.5 million for the corresponding period of the previous year.

UNB-Egypt, a subsidiary of the UAE’s Union National Bank, is capitalised at EGP 1.27 billion, distributed across 227.5 million shares at EGP 5.6 par value each.