Union Bank of Nigeria Plc has released its unaudited financial statements for the period ended September 30, 2019. The financial statements demonstrate positive figures across most financial indicators. The breakdown of the report is shown below:

Gross Earnings: Union Bank generated N122.19 billion in gross earnings as at September 2018 compared to N117.15 billion recorded as at the end of the nine month period of 2019. This represents a decrease of 4.12%.

[READ MORE: MTN Nigeria records 28.9% profit growth in nine months]

Profit Before Tax: As at the end of the third quarter of September 2019, the lender recorded N15.64 billion as profit before tax, up from N14.85 billion recorded as at the end of the third quarter of September 2018. This represents an increase of 5.3%.

Profit After Tax: The bank recorded a profit of N15.19 billion for the nine-month period of 2019, compared to N14.66 billion recorded at the end of the nine months period for 2018. This represents a 3.6% increase in profit after tax.

Earnings Per Share: Union Bank recorded 49kobo as earnings per share as at the end of the third quarter of 2018 compared to 51 kobo as at the end of the third quarter of 2019.

Download the full report here.

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