Union National Bank 50 per cent owned by the Abu Dhabi government, on Wednesday posted a 10 per cent rise in second quarter net profit, slightly missing analysts' forecasts.

The fifth largest lender on the Abu Dhabi exchange by assets reported a net profit of Dh571 million ($155.48 million) in the three months to June 30, up from Dh520 million a year earlier, a bourse filing said.

In a separate filing, the company said it posted a net profit attributable to equity holders of Dh568 million, 10 per cent up from Dh515.6 million in the year earlier period.

Six analysts polled by Reuters earlier this month forecast an average attributable net profit of Dh587 million.

UNB, earlier this month, said it picked five banks to raise a $500 million, three-year syndicated loan. - Reuters