Abu Dhabi – Mubasher: United National Bank (UNB) announced that Mohammed Nasr Abdeen will retire as the CEO of the UAE-based lender.

The decision will come into force as of the date of the coming assembly general meeting (AGM), according to a statement to the Abu Dhabi Securities Exchange (ADX).

UNB added that Ajay Bhuptani, deputy CEO, will officiate as the acting CEO of the bank until further advice.

By 11:09 am UAE time, UNB’ stock fell 0.55% at AED 5.41.