ABU DHABI: Abu Dhabi's Union National Bank said on Wednesday that it had fully repaid an outstanding 1.7 billion dirham ($462.8 million) loan to the United Arab Emirates' ministry of finance.
Under the original terms, the loan was due for repayment by the end of 2016, UNB said in a filing on Abu Dhabi's stock exchange. The bank repaid 1.5 billion dirhams in the first quarter of 2013.
With these payments, the bank has fully settled the subordinated loans of 3.2 billion dirhams which it received from the ministry in 2009, it said. (Reuters)
