Earnings Report

Q1:2024 Earnings Update | UBA | Impressive Performance Riding on Core Banking Income

May 6, 2024
Read Time: 1 minute(s)

Impressive Performance Riding on Core Banking Income

United Bank for Africa Plc. recently released its unaudited Q1:2024 financial result. Gross earnings grew 110.25% YoY to NGN570.16bn following impressive interest and non-interest income growth. Interest Income soared 129.71% YoY to NGN440.76bn while Non-Interest Income grew by 63.17% YoY to NGN129.39bn. On the other side, Operating Expenses advanced 104.05% YoY to NGN218.97bn owing to employee expenses, energy, and maintenance cost. Profit Before Tax (PBT) and Profit After Tax (PAT) grew by 154.74% YoY and 166.07% YoY respectively to NGN156.34bn and NGN142.58bn consecutively. Overall, Net Profit Margin increased by 5.25% to 25.01% in the period.

Click here to read full report.

Related News

Education, Investment 101, Knowledge Series

8 Financial Habits That Separates the Rich from the Broke

December 17, 2024
Read Time: 4 minute(s)

Education, Food for thought, Investment 101, Knowledge Series, Life Bits, Stocktrade

Christmas Budgeting Tips for a Stress-Free Holiday Season

December 15, 2024
Read Time: 3 minute(s)

Education, Food for thought, Knowledge Series, Life Bits

Tips for Decluttering Your Home Before Christmas

December 13, 2024
Read Time: 3 minute(s)

Subscribe

Get a prompt weekly email from our professional team on market insights, investing strategy and valuable tips for your finances!

Q1:2024 Earnings Update | UBA | Impressive Performance Riding on Core Banking Income

Realizing your ambitions has never been easier! With the ARM , you can stay Invested in your Tomorrow and start building a brighter financial future today.

Copyright ©, Asset & Resource Management Holding Company (ARM) Limited. All Rights Reserved. Information on this website is provided “as is” without warranty of any kind, either express or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose, or non-infringement. Some jurisdictions do not allow the exclusion of implied warranties, so the above exclusion may not apply to you. ARM does not accept cash and will never ask you to make payments to a personal bank account on its behalf, nor ask you for personal account details, card details or passwords to your account. The acceptable means of payment are cheques, bank transfers, USSD & online transfers. If you suspect any unusual activity on your account or in your dealings with ARM, we advise that you kindly call 01-448 8830 or click here to file a report

USEFUL LINKS

GET IN TOUCH!