collected by :Victor Alphen
Union National Bank (UNB), fifty % owned with the Abu Dhabi government, told on Sunday it foreseen seven to ten % development in profits in 2018.
CEO Mohamed Nasr Abdeen told journalists after the bank’s annual puplic meeting (AGM) which loan growth, which fell with four % in 2017, was foreseen to grow with among five & seven % this year, because of economic stability & growth.
“We see the better chance this year because of stability in the economy,” he said, adding the bank wasn’t in a hurry to inflate its loan book.
Abdeen told the bank was planning to unlock five fresh offshoots in Egypt, taking the total number of offshoots in the country to 48.
(Reporting with Stanley Carvaho; Writing with Sami Aboudi; Editing with Ghaida Ghantous & check Potter)
UNB expects 7-10% development in profit in 2018
Abu DhabiUnion National Bank expects seven to ten per cent promote in profit in 2018 on the back of a growing economy because of the height in oil prices, its CEO told in Abu Dhabi.
“Due to [the height in oil prices], we are leverage & guess the Gov to come up by fresh projects & spend more.
The bank announced 4.7 per cent promote in its internet profit for 2017, reaching Dh1.66 bn from Dh1.58 bn in 2016.
Speaking on loan growth, he told it Information Systems foreseen to grow among five to seven per cent in 2018.
The Egypt operations posted a 111 per cent development in profit in 2017.
Retailer Casino eyes more profit development in 2018
referring to PARIS, March eight (Reuters) – French retailer Casino told on Thursday which it aimed to grow profits more in 2018 thanks to cost savings and getting better discounds in France and Brazil, as it posted a 20.1 % height in its 2017 operating profit.
Casino, whose credit rating was cut to junk with level and Poor’s in March 2016, Information Systems under Stress to display it could revive profits in its major market of France at a time of slower development in Brazil, its second-biggest market with revenue.
It saved its 2017 dividend unchanged at 3.12 euros and vowed to get better cash flow and cut its internet debt this year.
Operating revenue rose 20.1 % to 1.242 bn euros ($1.54 billion), in line with the company’s guidance for profits of 1.24 bn euros given in January.
Casino told its French operations achieved operating profits of 556 mn euros in 2017, too in line with the company’s guidance for profits above 550 mn euros.