UBA records 40% rise in half year profit

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UBA HOUSE

The United Bank for Africa Plc (UBA) has announced its audited 2015 half year financial results for the period ended June 30, 2015.

The results showed that the pan-African bank profit before tax (PBT) rose by 35.1 per cent to N39 billion, while its profit after tax (PAT) was up by 40 per cent to N32 billion within the same period.

UBA gross earnings also climbed by 21 per cent to N166.9 billion during the period, compared to the N138.2 billion realised in the same period of June 2014. As a reward to shareholders, the bank has announced the payment of an interim dividend of 20 kobo per share.

The results made available on the floor of the Nigerian Stock Exchange (NSE), indicated that the benefited from its determination to provide value to its large customer base in Nigeria and its increasingly important pan African network which now contributes over 23 per cent of profit after tax.

Closure date for the corporation action is September 10, while payment date is September 16.

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