United Bank for Africa (UBA) Plc, the pan-African bank, has released it half year 2019 financials to the public. The bank made N56.7 billion Profit After Tax (PAT). A growth of 30 percent over the N40.8 billion PAT mace in the same period of 2018.
A review of the released by UBA Plc financials revealed that the 30 percent growth in PAT was propelled by the 60 percent growth in Trading Income and the 11 percent growth in Fee and Commission Income.
- Net Interest Income down by 1% from N111.1bn to N110.1bn in H1 2019
- Fee and Commission up by 11% from N32.6bn to N36.1bm
- Trading Income up by 60% from N20.5bn to N32.8bn in H1 2019
- Profit Before Tax (PBT) up by 21% from N58.1bn to N70.3bn
- PAT up by 30% from N43.8bn to N56.7bn in H1 2019
The Balance sheet of the bank also witnessed interesting margin except for Customer Loans and Advances that slides downwards with a very thin 2 percent margin. While the bank’s Total Asset increased by 5 percent from N4.87 trillion to NN5.1 trillion.
The Customer Deposit as contained UBA Plc financials also grew in H1 2019 from N3.35 trillion in H1 2018 to N3.5 trillion. While Total Equity also followed the same growth pattern with a growth of 8 percent from N502 billion to N542 billion in H1 2019.
The Bank has declared a 20k interim dividend for its shareholder whose name appeared it the books as at 12 September 2019. Dividend will however be paid directly into bank accounts of shareholders.
UBA Plc subsequently urged all shareholders without e-dividend mandate to download same here, complete and submit to the Registrar at the address at 220B Ikorodu Road, Palmgrove Bus-Stop, or any UBA Branch or their respective banks. Shareholders are also advised to update their records with the Registrar as may be required.