Union National Bank - Egypt Announces Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014
For the nine months period, the company reported profit of AED 1,584 million or AED 0.54 per share against AED 1,441 million or AED 0.48 per share, an increase of 10% compared to the corresponding period of previous year. The operating income was AED 2,532 million against AED 2,462 million, a year ago, 3% higher over the same period of 2013. Net interest income and net income from Islamic financing was AED 1,959 million against AED 1,990 million for the same period in 2013. Operating profit was AED 1,824 million against AED 1,836 million, compared to the same period in 2013. Return on average equity, as of September 30, 2014 was 15.2% against 15.4%, as of September 30, 2013. Return on average assets, as of September 30, 2014 was 2.4% against 2.2%, as of September 30, 2013.