UGB profit rises 29pc

DUBAI - UNITED Gulf Bank (UGB) yesterday announced a 29 per cent rise in the first quarter net profit to $6.03 million compared the same quarter in the previous year.

By Staff Reporter

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Published: Wed 7 May 2003, 12:37 PM

Last updated: Wed 1 Apr 2015, 9:11 PM

The total revenues also increased 14 per cent to $17 million from $14.9 million in the same period, while net operating income before provisions surged 20.6 per cent to $7.6 million.

UGB's total consolidated assets stood at $908.5 million, which was supported by shareholders' equity of $215.7 million as of March 31, 2003, the bank said.


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