Dubai – Mubasher: Orient UNB Takaful posted losses in the second quarter of 2017, according to a bourse statement.
The company suffered losses of AED 1.19 million ($323,900) in Q2-17; the same amount as in the first half of 2017.
General and administrative expenses (G&A) reached AED 1.29 million in Q2-17, while profits from deposits amounted to AED 88,210 in the same period.
Union National Bank (UNB) said earlier that Orient UNB Takaful’s initial public offering (IPO) was oversubscribed over 13 times.
Orient UNB Takaful listed its shares on Dubai’s bourse on Thursday, 22 June.
