UBA | Banking | H1:2024 Earnings Note | Loss on Derivatives Drags Performance
United Bank for Africa Plc recently released its audited H1:2024 financial result. Gross earnings grew by 39.65% YoY to NGN1.37trn following impressive interest income growth.
2023FY Banking Stock Note | ZENITH | UBA | GTCo | ACCESSCORP
Zenith, UBA, Access and GTCo recently released their audited 2023 financial statements and was characterized by a common theme – “Supernormal profit” Zenith Bank released the audited Full-year results for 2023, revealing a robust topline performance. Gross Earnings, which exceeded our 2023FY estimates, grew by 125.45% YoY to NGN2.13trn on the wheels of increased interest […]
H1:2023 United Bank for Africa Plc Earnings Result | Marked by Increased Fair Value Gain on Derivatives
UBA’s H1:2023 financial results mirrored the earnings growth across its Tier-1 peers on the back of the FX liberalization policy implemented during the period. Gross earnings increased by 163.66% YoY to NGN981.78bn, largely supported by higher non-interest income (+381.30% YoY to NGN553.48bn). Interest Income remained elevated, growing by 66.57% YoY to NGN428.29bn. On the […]
