United Bank for Africa PLC (UBA) Q3-2020 earnings shows an impressive topline as gross revenue advanced by 9.03% majorly driven by 6.46% increase in interest income despite the drag in fees and commission income.
Specifically, UBA interest income advanced from N297.90bn to N317.14bn followed by a 5.66% reduction in interest expenses.
Consequently, net interest income advanced by 17.06% to N186.02bn amid increasing impairment charges. A 72.23% increase in impairment charges pressure down net interest income after impairment to N174.55.
Income from fees and commission declined by 11.14% arising from lower-income from credit-related fees and commission despite increase trade transactions income. A 19.20% increase in operating expenses also reduced Profit Before Tax by 8.00% down to N90.37bn.
READ: List of GTBank Sort Codes & Branches (with addresses) in Nigeria
Consequently, UBA’s profit after tax declined by N5.52 to N77.13 compared to the N81.63bn in Q3-2019. In summary, Earnings per share declined by 6.90% to N2.16 in the current period.
Stanbic IBTC Bank Nigeria PMI - Growth slowed in the Nigerian private sector at the…
The Lagos State Internal Revenue Service (LIRS) has extended the deadline for filing individual annual…
Stanbic IBTC, a leading financial services provider in Nigeria, successfully hosted the 2026 edition of…
The FIFA World Cup 2026 will be the biggest in the tournament’s history, hosted across…
Institutional investors, corporate leaders and economic experts gained practical insights into portfolio positioning at the…
President Tinubu has nominated the Presidential Committee on Fiscal Policy and Tax Reforms chairman, Mr…
This website uses cookies.