UNB aims increasing loan portfolio by 36% this year

Union National Bank (UNB) aims at increasing net loans and credit facilities this year after discounting provision by 36% in value to EGP 720 million, to reach EGP 2.73 billion, compared with EGP 2.01 billion by the end of 2011.

UNB’s estimated budget shows it targets increasing deposit portfolio in the same period by 33% in value to EGP 1.07 billion, to reach EGP 4.39 billion, compared with EGP 3.31 billion by the end of 2011.

UNB also targets increasing the profits to reach EGP 22.2 million, compared with EGP 17.5 million by the end of 2011 and also raising investment portfolio of treasury notes and governmental securities by 22%, to reach EGP 1.29 billion by the end of 2012, compared with 1.06 billion by the end of 2011.

Additionally, UNB aims at increasing total asset value to reach EGP 5.71 billion, compared with EGP 4.52 billion, meaning having 26% increase in value to EGP 1.19 billion and also increasing financial investments to EGP 322.5 million, compared with EGP 280 million by the end of 2011.

Amwal Alghad