NIGERIA, Lagos – August 29,
2018 – Africa’s leading financial institution, United Bank for Africa
Plc has announced its audited 2018 half year financial results, showing
strong growth across key performance metrics as well as a significant
contribution from its African subsidiaries.
Despite declining yield environment in two core markets, Nigeria and Ghana, the pan Africa financial institution delivered double-digit growth in gross earnings, as it recorded a 16 per cent year-on-year rise in top-line to N258 billion, compared to N223 billion recorded in the corresponding period of 2017. This performance, according to analysts, underscores the capacity of the Group to deliver strong performance through economic cycles, even in a challenging business environment.
According to the report filed to the Nigerian Stock Exchange on Wednesday, UBA, reported strong growth in operating income at N168.5 billion, compared to N161.8 billion in the first half of 2017, an increase of 4.1 percent.
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