Union National Bank – Egypt’s Net Profit Hit EGP 32.7 Mln In 2012

Union National Bank – Egypt achieved post-tax net profit of EGP 32.7 million at the end of 2012, compared to EGP 17.5 million at the end of 2011, registering an increase of 87%.

The bank’s business results showed that deposits rose to EGP 3.9 billion at the end of last year, compared to EGP 3.3 billion at the end of 201,1 registering an increase of 18%. The bank’s loan portfolio surged 26% to reach EGP 3.03 billion at the end of 2012, compared to EGP 2.4 billion at the end of 2011.

The interest income hiked 49% to reach EGP 467.37 million at the end of 2012, compared to EGP 313.8 million at the end of 2011. The bank’s equity rose 5% to reach EGP 822 million at the end of 2012, compared to EGP 784.9 million at the end of 2011.

The bank’s reserves reached EGP 129.6 million at the end of 2012, compared to EGP 125.2 million at the end of 2011, registering an increase of 3%.