Union Bank of Nigeria Plc released its financial results for the full year ended 31st December 2015. The result showed that Net interest income increased by 6.97% from N52 billion in 2014 to N55 billion in 2015, while commission fees and other income reduced by 24.19% from N10.1 billion in 2014 to N7.6 billion in 2015.
Although the bank reduced its operating expenses by 2.11% from N59.4 billion to N58.1 billion in 2015, pre-tax profits declined by 46.75% from N27.1 billion to N14.4 billion in 2015.
Profit after tax also declined by 47.95% from N26.6 billion to N13.8 billion in 2015.
Union Bank was trading at N5.60 as at press time.