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Home Business News

UBA records N204.8 billion interest income for H1 2019 

Joseph Olaoluwa by Joseph Olaoluwa
August 30, 2019
in Business News, Company Results
UBA H1 Year 2019 Tony Elumelu, United Bank for Africa
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United Bank for Africa Plc reported a 9.3% increase in its interest income for the half-year period ended June 30, 2019.   

This was disclosed in the company’s H1 2019 financial statements published earlier today on the website of the Nigerian Stock Exchange.    

Interest income: The bank’s interest income for the period stood at N204.8 billion, compared to N187.2 billion recorded in 2018, representing a 9.3% increase.    

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[READ MORE: Fidelity Bank reports 12.3% increase in gross earnings for H1 2019]   

Profit Before Tax: This went up by 20.8% to N70.2 billion during the period under review, compared to N58.1 billion in June 2018.      

Profit After Tax: Similarly, the bank’s profit after tax stood at N56.7 billion as against N43.7 billion which was recorded during the same period in June 2018; representing a 29.5% increase.  

Earnings Per Share (EPS) stood at N1.23 in 2018 compared to N1.62 in 2019.    

[READ ALSO: UBA reports N78.6bn PAT for FY 2018]   

Major assets were derived from Cash and balances, financial assets at fair value through profits or loss, derivative assets, investments securities.   

 


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Tags: UBA H1 2019United Bank for Africa Plc
Joseph Olaoluwa

Joseph Olaoluwa

Reincarnated as a lover of stocks, Angel investors, seed funds, and anything aligned to tech or startups raising money, Joseph's work at Nairametrics involves following the money to wherever it leads. Before joining Nairametrics, he won an investigative journalism fellowship with ICIR, appeared in several national dallies, with hard-hitting opinions, features and investigative pieces. He has also engaged in content marketing and copywriting for a top e-commerce firm in Nigeria.

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