Abu Dhabi-based Union National Bank reported Dh496.7 million net profit for the third quarter, up by 7.3 per cent compared to Dh462.8 million in same quarter in 2010. Sequentially, quarter-on- quarter the profit for the third quarter of 2011 increased 18.6 per cent compared to the second quarter of 2011.
Islamic financing was up by 21 per cent to Dh1.76 billion. The increase in net interest income and net income from Islamic financing was achieved by an expansion in the net interest margin, increase in loans and advances and optimisation of liquidity levels………………………………………..Full Article: Source