Page 365 - Ministry of Economy - December 2017

12/25/2017 Union National Bank is a pillar of the United Arab Emirates economy | World Finance
UNB has managed to deliver solid results by
maintaining strong liquidity and proactively
managing its asset quality. Executives at the bank are
aware that the road ahead is paved with both risks
and opportunities, and they are responding to
potential issues by considering sustainability as a vital
part of their business strategy.

UNB’s operating profit as of June 30, 2017 was up by
seven percent, while loans and advances went up by
three percent, mainly due to an increase in operating
income that included both net interest income and
non-interest income.

The UAE Government is expected to pursue many of
the biggest investments in infrastructure in the
coming year, which have been major sources of profit
for the banking sector up until now. However, the
uptick of this policy could only be small given the
impact of higher interest rates and a slowdown in
government spending.

The government will also
continue to encourage credit “
for SMEs, many of which UNB recognises
were forced to fold in 2016 the importance of
owing to the dearth of corporate social
affordable financing responsibility and
solutions. That said, banks
remain cautious in their has done its
lending to this segment. utmost to
promote
UNB’s strategic growth plans excellence
will continue to play a key
role at the heart of the through various
region’s capital and financial initiatives
markets by offering strategic
and efficient access to ”
growth opportunities, the
best customer services and innovative products and
solutions in the UAE and beyond.

UNB’s business activities are fully aligned with Abu
Dhabi’s Economic Vision 2030 guidelines and its
prioritisation of the Emirate’s socioeconomic
progress. UNB’s vision, mission and strategy provide
a clear roadmap to help it achieve its goals.

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