UBA grows half year pretax profit to N70.27billion

Last updated: August 30, 2019 7:17 pm

By Iheanyi Nwachukwu

1 Min Read

UBA grows half year pretax profit to N70.27billion

The Board of Directors of United Bank for Africa (UBA) Plc declared interim dividend of 20kobo per share from the retained earnings account of the banking group as at June 30, 2019.

United Bank for Africa Plc on Friday August 30 released for the investing public its interim consolidated and separate financial statements for the half year (H1) period ended June 30, 2019.

The audited results show UBA Plc recorded 13.95percent increase in gross earnings to N294.032billion in H1’2019 from N258.04billion in H1’2018.

Its profit before tax (PBT) grew by 20.9percent to N70.27billion from N58.14billion in corresponding H1 of 2018. Profit after tax (PAT) stood higher at N56.74billion in H1’19 against N43.79billion in H1’18, representing an increase of 29.6percent.

Iheanyi Nwachukwu

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ByIheanyi Nwachukwu

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Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).