Union National Bank, an Abu Dhabi-based lender, said its full year profit rose 9.1 per cent in 2013 amid an economic rebound that boosted demand for personal and business loans.
Net income rose last year to Dh1.75 billion from Dh1.6bn in 2012, UNB said in a statement to the stock exchange today.
Net interest income increased to Dh2.27bn from Dh2.19bn while net fee and commission income gained 15 per cent to Dh501.5 million, the bank said.
The bank's board has recommended a 15 fils per share dividend and a 5 per cent bonus share distribution, subject to the approval of shareholders and the Central Bank.
UNB follows a list of local banks in the past week that have reported stellar earnings for 2013 amid rebounding consumer confidence, rising spending and surging property prices.
mkassem@thenational.ae
