UBA Plc reported her unaudited Q3 ended September 30th 2017 results to the market yesterday. Closer analysis reviewed that both gross earnings and net income grew by 25.8% and 23.04% respectively.
Gross earnings was significantly impacted by improved return on interest and similar income which represents 71.3% of total gross earnings.
Interest expenses as a percentage of interest income dropped to 36% against 39% posted in Q3 ’16 showing efficiency in cost management.
Key highlights:
- UBA grew gross earnings and net income by 25.8% and 23.04% respectively in Q3 ’17.
- Gross earnings was significantly impacted by improved return on interest and similar income which represents 71.3% of total gross earnings.
- Interest expenses as a percentage of interest income dropped to 36% against 39% posted in Q3 ’16 showing efficiency in cost management.
- Tax expenses grew by 87.4% as results of provision for deferred tax and adjustment for current tax of prior period.
- Profit margin dropped marginally to 18.2% against 18.7% in Q3 ’16 as result increased in tax provision.
- The bank has a book value above current market price. This shows a positive imbedded value and points a better room for future growth.
Kindly find on this link to see full details on the Corporate Brief of the firm.