Union National Bank To Launch New Branch In 10th Of Ramadan City
Union National Bank-Egypt targets to launch its first branch in 10th of Ramadan City on December 23rd. A Source said the bank plans to inaugurate two new branches; one of which in Sixth of October City, as part of the bank’s expansion plan.
The bank has 28 branches spread across all governorates in Egypt and aims at increasing its branches to 31 in 2013. If the demand for Islamic banking products increases, the bank will ask for an Islamic banking license, the source added.
Union National Bank- Egypt was established in 2006 after it acquired Alexandria Commercial and Maritime Bank.
The bank achieved post-tax net profit of EGP 24.3 million at the end of last September, compared to EGP 23.3 million at the end of September 2011, registering an increase of 5%.
