Abu Dhabi-based Union National Bank (UNB) has said it earned Dh303.9 million ($82.5 million) in the first quarter, down around 10 per cent from the year-earlier period.

The bank said in a statement the earnings compared to a net income of Dh338 million in the first quarter of 2008.

Two analysts polled by Reuters in April forecast UNB would post first-quarter profits of Dh70.30 million and Dh264 dirhams. – Reuters