UBA Declares N56.74 Billion Profit In H1 2019 Financial Results

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United Bank for Africa Plc (UBA) has released its Half-Year financial results for the period ended 30th June 2019. The Pan-African bank recorded great performances growth across key indices.

According to the financial results analyzed by Financial Metrics Nigeria, the bank interest income grew from N127.29 billion in H1 2018 to N204.89 billion in H1 2019. The interest expenses appreciated from N76.22 billion to N94.76 billion.

The Bank Profit Before Tax grew from N58.14 billion to N70.27 billion. This shows a performance growth of 20.86%. Whilst the Profit After Tax rose from N43.79 billion to N56.74 billion. The Profit After Tax grew by 29.57%.

Financial Metrics Nigeria reports that the total comprehensive income rose from N30.48 billion to N62.08 billion. The Earnings Per Share (EPS) also appreciated for the period under review. The EPS grew from N1.23 in Half-Year 2018 to N1.62 in 2019. This shows a growth performance of 31.71%.

UBA total assets rose from N4.87 trillion to N5.10 trillion whilst the total liabilities grew from N4.37 trillion to N4.56 trillion. This shows the growth performance of assets and liabilities of 4.72% and 4.35% respectively.

Customers deposits grew from N3.35 trillion to N3.51 trillion for the period ended. The customers’ deposits rose by 4.48%. Deposits from other banks declined by 2.09 %.

The total equity rose from N502.61 billion to N542.46 billion whilst the total liabilities and equity grew from N4.87 trillion to N5.10 trillion. The total equity appreciated by 7.93% while the total liabilities and equity were up by 4.72%.

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