{"id":51991,"date":"2021-09-10T09:45:07","date_gmt":"2021-09-10T08:45:07","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=51991"},"modified":"2021-09-10T09:45:12","modified_gmt":"2021-09-10T08:45:12","slug":"uba-records-33-profit-growth-declares-interim-dividend","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/uba-records-33-profit-growth-declares-interim-dividend\/","title":{"rendered":"UBA Records 33% Profit Growth, Declares Interim Dividend"},"content":{"rendered":"<p>The United Bank for Africa (UBA) Plc, has recorded a 33.4 per cent growth in profit before tax which rose to N76.2billion, up from N57.1billion in the same period of 2020, translating to an annualised Return on Average Equity of 17.5 per cent as against 14.4 per cent a year earlier.<\/p>\n<p>The results filed with the Nigerian Exchange, showed that the Group\u2019s gross earnings grew 5.0 percent to N316billion from N300.6billion, while total assets rose to N8.3 trillion from N7.7trillion.<\/p>\n<p>Customer Deposits also crossed the N6trillion mark growing by 7.4 per cent to N6.1trillion in the period under consideration, compared to N5.7 trillion as at December 2020.<\/p>\n<p>The Group\u2019s Shareholders\u2019 Funds remained robust at N752.5billionn up from N724.1billion in December 2020, reflecting its strong capacity for internal capital generation.<\/p>\n<p>In line with the bank\u2019s culture of paying both interim and final cash dividend, the Board of Directors of UBA Plc has declared an interim dividend of 20kobo per share for every ordinary share of 50kobo each, held by its shareholders.<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p>UBA\u2019s Group Managing Director\/Chief Executive Officer, Mr. Kennedy Uzoka, expressed delight over the bank\u2019s performance, adding, \u201cThis has been a strong first half for us, as global economic recovery exceeded expectations, creating a positive rub-off on consumer and corporate confidence, savings and investment activities. We saw this positively impact our business, as we continued to leverage our key strategic levers \u2013 People, Process and Technology, and our Customer 1st Philosophy, to revolutionise customer experience at UBA.\u201d<\/p>\n<p>UBA\u2019s Group Chief Financial Officer, Ugo Nwaghodoh, on his part, noted that the bank\u2019s goal is to achieve marked improvement in earnings quality whilst maintaining positive operating leverage as well as top-notch asset quality.<\/p>\n<p>&nbsp;<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The United Bank for Africa (UBA) Plc, has recorded a 33.4 per cent growth in profit before tax which rose to N76.2billion, up from N57.1billion in the same period of 2020, translating to an annualised Return on Average Equity of 17.5 per cent as against 14.4 per cent a year earlier.<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":21022,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[17],"tags":[],"coauthors":[2391],"class_list":["post-51991","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - 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