Nigeria, Oct 11, 2016 – United Bank for Africa Plc has been able to grow its profit by 7.6 percent, when the figures were placed side by side figures recorded same period last year.
From records released on the floor of the Nigerian Stock Exchange, the bank made a profit of N52. 3 billion compared with N48.6 billion which was made same period last year.
From the third quarter result, the bank’s Gross earnings increased by 8 percent to N265 billion, from N245.5 billion, while the group recorded a net operating income of N183 billion, about 11 percent higher than N165.7 billion posted the previous year.
The group’s profit before tax thus rose by 7 percent to N61.6 billion from N57.4 billion recorded in the same period of 2015.
The bank also recorded growth in total assets, with an increase of 26.4 percent to N3.5 trillion, from N2.8 trillion recorded last year.
