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UBA declares impressive N620.4bn gross earnings as profit hit N131.9bn

Kehinde Sallah by Kehinde Sallah
March 9, 2021
in News, Business
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UBA

UBA Source: premiumtimesng

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UBA declares a dividend of N0.35kobo per share

The United Bank for Africa (UBA) has declared an impressive result for the year ended December 31 2020 with a gross earning of N620.4 billion and a profit before tax of N131.9 billion.

The audited result which was release on the Nigeria Stock Exchange (NSE) website had the following key highlights:

The gross earnings of the bank grew by 10.8 per cent to N620.4 billion when compared to N559.8 billion recorded in 2019.

READ ALSO: 10 major highlights of the Zenith Bank full-year report

The asset of the bank grew by 37.0 percent to N7.7 trillion in 2020

The Profit Before Tax (PBT) hit N131.9 billion when compared to the corresponding period of 2019

In the same vein, the Profit After Tax (PAT) grew by 27.7 percent to N113.8 billion compared to N89.1 billion.

Operating expenses grew by 10.1 percent to N249.8 billion compared to N217.2 billion.

Tags: audited reportBank's profitFull year reportUBA

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