UBA Reports N28.66 Billion Impressive Q1 2019 Profit

Kennedy Uzoka, Group Managing Director/CEO, United Bank for Africa Plc

April 23, 2019

By Paschal IJEH InvestAdvocate

Lagos (INVESTADVOCATE)-Africa’s global lender, the United Bank for Africa Plc (UBA) said on Tuesday said its profit after tax (PAT) for the period ended March 31, 2019 climbed up 20.8 percent to N28.66 billion from N23.73 billion recorded a year ago.

Profit before tax (PBT) grew 13.6 percent to N30.15 billion from N26.55 billion declared the same period of 2018.

Gross earnings of UBA increased from N119.36 billion in the first quarter (Q1) of 2018 to N131.66 billion posted in the review period of 2019; showing an increase of 10.3 percent, the lender said in a filing with the Nigerian Stock Exchange (NSE).

Shares of UBA at the close of Tuesday’s trading on the Nigerian bourse appreciated 3.01 percent to N6.85 from N6.65 traded the previous session; gaining 0.20 kobo per share.

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