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Home Opinions Blurb

2014 Q1UBA Plc: High Operating Expenses Wipe Our Earnings Growth..See Details

Nairametrics by Nairametrics
April 18, 2014
in Blurb, Spotlight
2014 Q1UBA Plc: High Operating Expenses Wipe Our Earnings Growth..See Details
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UBA Plc released its 2014 Q1 results showing a 21% in pre-tax profits for the first quarter of the year as operating expenses rose amidst flat income growth.

  • Net Interest Income rose 7.8% to N29.7billion compared to N27billion in 2013 Q1
  • 14% drop in commission and fees helped slow down growth in operating income to N44.9billion (2013 Q1: N44.4billion.
  • However, the brunch in drop in earnings was to come from high operating expenses which rose 15% to N31.4billion (2013 Q1: N27.3billion).
  • This helped push pre-tax profits downwards to NN13.5billion a 21% drop from the N17.1billion posted same period last year.
  • Return on Equity was 5.3%

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