Cairo - Mubasher: The financial indicators of Union National Bank - Egypt (UNBE) showed a surge of 96% in profits for the first quarter of 2017 year-on-year.

The bank said in a statement to the Egyptian Exchange (EGX) on Sunday that profits totalled EGP 78.5 million in Q1-17 compared to EGP 40 million in Q1-16.

Revenues went up to EGP 576.11 million in the three-month period that ended 31 March 2017 from EGP 328.9 million in the same period last year.

During the same period, deposits grew 4% to EGP 21.5 billion, while the loans portfolio increased by 5% to EGP 9.05 billion.