Abu Dhabi – Mubasher: Union National Bank (UNB) reported a 12% year-on-year decline in net profit during the first six months of 2018, recording AED 835.2 million.

This decrease can be accounted for a 3% year-on-year decline in operating income from January to the end of June, which reached AED 1.768 billion, according to a bourse statement.

Provision for impairment of financial assets went up 20% to AED 310.4 million in H1-18, compared to the prior year period, the bank’s data showed.

The bank’s net profit tumbled 6% year-on-year during the first quarter of 2018.