UBA’s half-year gross earnings grows by 2 percent

  • Gross earnings increased slightly by 2 percent to N300.6 billion from N294 billion recorded in the same period of 2019.
  • Net profit for the period dropped 21.6 percent to N44.4 billion from N56.73 billion compared to 2019.
  • The board also approved an interim dividend of N0.17 per share for every ordinary share of N0.50 each held by its shareholders.
  • Deposits from customers increased impressively by 25.2 percent to N4.8 trillion despite the challenging business and economic environment occasioned by the Covid-19 pandemic.
  • The bank’s net interest income grew by 8.4 percent to N119.3 billion, net fee and commission income stood at N38.6 billion representing a 7.0 percent increase compared to the similar period in 2019 as customers take advantage of e-channels for business transfers following movement restriction during the period under review.
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