UBA slashes Interim Dividend to 17 Kobo as HY’20 Profit Drops 22%

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The United Bank for Africa (UBA) Plc released its audited results for the half-year ended June 2020, which showed that the pan-African bank recorded a decline in its profit after tax of N44.431 billion, compared with the N56.7 billion it realised in the comparable period of 2019.

UBA’s net profit of the lender went down by 22 per cent to N44.4 billion from N56.7 billion last year, while the pre-tax profit reduced to N57.1 billion from N70.3 billion, with the earnings per share (EPS) dropping to N1.24 from N1.62.

The board of UBA recommended the payment of an interim dividend of 17 kobo for the period under review, 15 per cent or 3 kobo lower than the 20 kobo paid in the corresponding period of 2019.

Highlights

  • Interest Income grew by 0.3% to N205.59bn from N204.89bn in the previous quarter.
  • Profit before tax stood at N57.13bn.
  • Profit after tax stood at N44.43bn.
  • Net Assets grew by 6.1% from N597.98bn to N634.73bn

Gross Earnings & Interest Income

According to the results, UBA said it had an interest income of N205.6 billion in the first six months of this year, higher than N204.9 billion recorded in the same period of last year.

UBA’s gross earnings also grew to N300.2 billion, compared with the N294 billion it made in the comparable period of 2019.

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Loans & Deposits

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Total loans to customers grew by 6.1 per cent to N2.186 trillion, as against the N2.061 trillion recorded last year, just as its deposits from customers increased significantly by 25.2 per cent, from N3.832 trillion last year, to N4.8 trillion.

The UBA Group’s total asset as at first half of 2020 was N6.8 trillion, as against the N5.8 trillion it was in the comparable period of last year, while net interest income grew by 8.4 per cent to N119.3 billion.

However, the interest expense reduced to N86.3 billion from N94.8 billion in the first half of last year, while the net interest income rose to N119.3 billion from N110.1 billion.

The fees and commission income increased to N55.9 billion in the period under review from N52.3 billion just as the fees and commission expense jumped to N17.3 billion from N16.3 billion, with the net fee and commission income closing at N38.6 billion as at June 30, 2020, as against N36.1 billion as at June 30, 2019.

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During the period, investors traded a total of 3,523,723,566 units of UBA shares on the stock exchange, representing 10.3 per cent of the shares outstanding of the lender.

UBA slashes Interim Dividend to 17 Kobo as HY’20 Profit Drops 22%
United Bank for Africa Plc (UBA)

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UBA slashes Interim Dividend to 17 Kobo as HY’20 Profit Drops 22% - Brand SpurUBA slashes Interim Dividend to 17 Kobo as HY’20 Profit Drops 22% - Brand Spur

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UBA slashes Interim Dividend to 17 Kobo as HY’20 Profit Drops 22% - Brand SpurUBA slashes Interim Dividend to 17 Kobo as HY’20 Profit Drops 22% - Brand Spur

Latest News

DHL donated IDR2.4 billion to SOS Children’s Villages in six years of partnership in Indonesia

  • With DPDHL Group's support and contribution of €140,000 (IDR2.4 billion) since inception, program has benefitted more than 2,500 young people in Indonesia
  • GoTeach program aims to improve youth employability, especially now with challenges posed by the COVID-19 pandemic

JAKARTA, INDONESIA - Media OutReach - 8 March 2021 - DHL Global Forwarding, the leading international freight specialist arm of Deutsche Post DHL Group (or DPDHL Group), today commemorates six years of partnership with SOS Children's Villages (SOSCV) at a DHL GoTeach Donation Ceremony. Working together with the non-governmental organization (NGO) focused on supporting children without parental care and families at risk, DPDHL Group has reached out to more than 2,500 beneficiaries in Indonesia through mentorship and educational activities and a contribution of €140,000 (IDR2.4 billion) since 2014.


UBA slashes Interim Dividend to 17 Kobo as HY’20 Profit Drops 22% - Brand Spur

"As one of the largest employers in the world, the Group is supportive of programs that prepare job seekers for the working world, especially during such challenging times. Today, we are proud to commemorate our six years of partnership with SOS Children's Villages at the DHL GoTeach Donation Ceremony," said Thomas Grunau, Global Head of Business Strategy & Digitalization, DHL Global Forwarding.

During the ceremony, Grunau presented a donation of €5,000 to SOSCV Indonesia in support of the Pandemic GoTeach project, which offered an online employability training to more than 1,000 young people all over Indonesia in 2020. With the support of 12 volunteers, the online training sessions, covering employability related topics such as job interview and resume writing skills, will continue in 2021 until social distancing measures ease up. The program is the brainchild of Elok Vinindya Wardhani, Marketing and Corporate Communications, DHL Global Forwarding Indonesia, who was recognized for her initiative and effort with the organization's CEO award in the category sustainability.

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DHL Global Forwarding Indonesia President Director, Vincent Yong said, "In today's rapidly changing world, education paves the way to a stable, sustainable and prosperous tomorrow. Through the GoTeach program, DHL hopes to help the youth in Indonesia to develop the skills and confidence to enter the professional world. With 509 employees across all business divisions volunteering for more than 3,000 hours in the past six years, GoTeach also delivers opportunities for our employees to actively contribute and play a role in the community."

GoTeach is a group-wide corporate responsibility program aimed at improving youth employability for those from disadvantaged socio-economic backgrounds. Educational and mentorship activities are regularly organized to better prepare them to enter the working world.

"The sustainability and power of an economy and the society depend on a strong educational system and targeted efforts to develop the next generation of working professionals. During the COVID-19 pandemic, jobs and livelihoods have been impacted, deepening the need for training and mentoring programs, such as GoTeach, for our youth to continue to develop their competencies and capabilities to reach their dreams. SOS Children's Villages is happy and proud to join hands with DHL Indonesia to deliver on this commitment," said Gregor Hadiyanto Nitihardjo, National Director SOS Children's Villages Indonesia.

According to UNICEF, there are approximately 24 million students who have dropped out of school as a result of the pandemic, adding to the 870 million students or half of the world's student population in 51 countries who have yet to return to school.

In Indonesia, DHL Global Forwarding together with DHL Express and DHL Supply Chain have continuously focused on developing youth's potential since 2014, sharing knowledge on soft and hard skills as well as supporting career development and employability for young people. The GoTeach program has been conducted in several locations across Indonesia such as Meulaboh, Banda Aceh, Medan, Jakarta, Lembang, Semarang, Bali and Flores. For the past six years, DHL employees have actively become mentors in several GoTeach activities such as skill preparation, job shadowing, DHL facility tours, internships and dream camp activities at SOS Children's Villages to improve employability. The initiative is also part of DPDHL Group's effort to contribute to local communities where they operate.


DHL – The logistics company for the world

DHL is the leading global brand in the logistics industry. Our DHL divisions offer an unrivalled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. With about 380,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling global sustainable trade flows. With specialized solutions for growth markets and industries including technology, life sciences and healthcare, engineering, manufacturing & energy, auto-mobility and retail, DHL is decisively positioned as "The logistics company for the world".

About SOS Children’s Villages

SOS Children's Villages is a non-profit organization that provides alternative care for children who lost or at risk of losing their parental care. Founded in 1949 in Innsbruck, Austria, SOS Children's Villages now are in 136 countries, including Indonesia. Today, Indonesia SOS Children's Villages have nurtured and assisted more than 5.500 children in 11 cities in Indonesia: Lembang, Jakarta, Bogor, Semarang, Yogyakarta, Tabanan, Maumere, Banda Aceh, Meulaboh, Medan, and Palu. For further information, visit: www.sos.or.id | @desaanaksos


*Special Notes

SOS Children's Villages prioritizes family-based care and we form substitute families for children who lost or at risk of losing their parental care. The Mothers and Children establish a family relationship with each other just like any family out there (family-care), so we avoid terms such as an orphanage, foster child, foster mother, and orphans that is replaced with the term a child who lost or at risk of losing their parental care. In SOS Children's Villages, we also pay close attention to children's interests and we also protect their privacy, so any information that is related to their background and personal matter will only be shared with particular parties and will not be published to the public.

UBA slashes Interim Dividend to 17 Kobo as HY’20 Profit Drops 22% - Brand Spur
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