P
ProfRem
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United Bank for Africa (UBA) Plc, has released its audited 2016 full year results, showing a significant growth in gross earnings and profits.
As reflected in the results released on March 24, 2017 at the Nigerian Stock Exchange (NSE) covering the period January to December 2016, the UBA Group reported a 32 per cent growth in profit before tax to N91 billion, compared to N68 billion profit recorded over the same period of 2015, while the bank’s profit after tax grew by 22 per cent to N72 billion, from N60 billion recorded the previous year.
A statement from the bank on Sunday attributed the improved earnings and profits to its resilience, enhanced productivity and geographic diversification, evident in the impressive contribution from its African subsidiaries.
In addition to the rising adoption of electronic banking channels in many of the African markets where UBA operates, the bank said it leveraged its strong franchise and geographical footprint.
Following the impressive performance, the Board of Directors proposed a final dividend of 55kobo per share, subject to the approval of the shareholders at the forthcoming Annual General Meeting (AGM), scheduled to be held on April 7, 2017 at the Eko Hotel and Suites in Lagos.
As reflected in the results released on March 24, 2017 at the Nigerian Stock Exchange (NSE) covering the period January to December 2016, the UBA Group reported a 32 per cent growth in profit before tax to N91 billion, compared to N68 billion profit recorded over the same period of 2015, while the bank’s profit after tax grew by 22 per cent to N72 billion, from N60 billion recorded the previous year.
A statement from the bank on Sunday attributed the improved earnings and profits to its resilience, enhanced productivity and geographic diversification, evident in the impressive contribution from its African subsidiaries.
In addition to the rising adoption of electronic banking channels in many of the African markets where UBA operates, the bank said it leveraged its strong franchise and geographical footprint.
Following the impressive performance, the Board of Directors proposed a final dividend of 55kobo per share, subject to the approval of the shareholders at the forthcoming Annual General Meeting (AGM), scheduled to be held on April 7, 2017 at the Eko Hotel and Suites in Lagos.