Banking Briefs
THE board of directors of United Bank for Africa, UBA), Plc will meet on Thursday, July 20, to deliberate on the bank’s accounts and financial statements for the half year ended June 30, 2017.
Bili Odum, secretary of the board, in a statement said the board will also consider interim dividend for the period.
According to him, after the board considers the results, it will then be sent to the Central Bank of Nigeria, CBN, for approval before making it available to the Nigerian Stock Exchange, NSE, for its shareholder and the investing public to peruse.
“Please note that we are by regulations, required to forward the audited accounts and financial statements to the Central Bank of Nigeria (CBN) for approval, prior to the release of the results on the floor of the NSE. Accordingly, we shall notify the exchange of the decision of the board of directors after the meeting and submit the accounts to the NSE upon approval of the CBN,” the statement said.
UBA’s unaudited first quarter results for the period ended March 30, 2017, shows significant growth across major income lines as the bank leveraged on strong growth in interest and non-interest income as well as increased efficiency to record N25.5 billion in profit-before-tax, PBT, in 2017, compared to N18.1 billion achieved in Q1 of 2016.
Also the bank group recorded a profit after tax, PAT, of N22.4 billion, showing 32 per cent growth compared to N17.0 billion achieved in the corresponding period of 2016 and sustained a strong profitability of an annualised 19.4 per cent Return on Average equity, RoAE.
— Jul 17, 2017 @ 11:25 GMT
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