reports
UNION NATIONAL BANK PJSC loses on its star level and is downgraded to ...
The independent financial analyst theScreener just slightly lowered the general evaluation of UNION NATIONAL BANK PJSC (AE), active in the Money Center Banks industry. The title has lost a star(s) at the fundamental level and now shows 1 out of 4 stars. Its exposure to market risk remains nonetheless the same and can be still described as defensive. theScreener slightly downgrades the general evaluation to Slightly Positive for the title on account of the lost star(s). As of the analysis date Ap...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
Case for UNB as M&A target only getting stronger
​Lots of news hitting wires, with Bloomberg story cited unnamed sources as saying Abu Dhabi is considering more mergers to boost its financial services industry after NBAD / FGB merger and is weighing a plan to merge ADCB / UNB as well as ADIB and Al Hilla Bank.Please see our latest report on it below published over a month ago.
Margin compression persists
Earnings beat our expectations on lower than expected credit costs, albeit has increased sequentiallyLoan growth recovered significantly during the quarter with UNB increasing exposure to sectors that it had avoided during H1 such as energy However, margins continue to decline (47bps y/y to 2.64% during 9M) due to higher deposit costs and elevated delinquencies in its SME portfolio, leading to decline in operating earnings y/yIn our analysis, we have calculated too high loan margins for UNB at t...
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