Posts N76.2bn profit, declares 20k per share interim dividend
The United Bank for Africa Plc, has presented its audited half year financial statements for the period ended June 30, 2021, to the public.
The figures, showed growth across major income lines and performance indicators.
The bank showcased a 33.4 per cent growth in profit before tax, which rose to N76.2 billion as at June 2021, up from N57.1 billion reported in the equivalent period of 2020.
These translate to an annual Return on Average Equity of 17.5 per cent as against 15.1 per cent in the previous year.
UBA recorded the impressive showings, despite the challenging business and economic environment which is characteristic of COVID-19 impact on businesses last year which has driven the economy into a slow pace.
The results submitted to the Nigerian Exchange, showed that UBA Group’s profit after tax stood at N60.6 billion, which represents a significant increase of 36.3 per cent when compared to N44.4 billion recorded in the half year of 2020.
Similarly, gross earnings grew by 5 per cent, to N316 billion from N300.6 billion as at June 2020.
The Group’s Total Assets, as at June 30, 2021, crossed the N8 trillion mark and rose to N8.3 trillion, up from N7.7 trillion where it stood as at the end of the 2020 financial year.
