Insider Dealing: Opeoluwa Ashiru Sells Stake in United Capital Plc

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The management of United Capital Plc, a leading African financial and investment banking Group, has disclosed that Opeoluwa Ashiru, Head, Business Process Improvement and Control, has sold ordinary shares of 181,240 at N4.70 per share on December 17, 2020.

In a statement signed by Leo Okafor, Company Secretary and released through the Nigerian Stock Exchange (NSE), United Capital said the transaction took place at the Nigerian Stock Exchange in Lagos, Nigeria.

Insider Dealing BRANDSPURNG Opeoluwa Ashiru Acquires 181,240 Shares in United Capital
Opeoluwa Ashiru | Head, Business Process Improvement and Control | www.brandspurng.com

Insider Dealing brandspurng Opeoluwa Ashiru Sells Stake in United Capital
SOURCE: NSE

A peek into United Capital’s Financials

United Capital Plc grew its Gross Earnings and Net Income (i.e. PAT) by 33% and 26% respectively to ₦7.069 billion and ₦3.463 billion compared to the corresponding period of 2019.

Sharp Drop in Other Income Failed to Impact Gross Earnings

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Despite the 65% decline in its Other Income (to ₦308.82 million) relative to the corresponding period of 2019, the company’s Gross Earnings rose by 33% in 9M’2020 to print at ₦7.069 billion compared to ₦5.322 billion reported in 9M’2019.

The increase in Gross Earnings was jointly driven by a 55% surge in Investment Income to ₦74.386 billion, a 62% increase in Fee & Commission Income to ₦2.249 billion, and a 61% spike in Net Interest Margin to ₦125.28 million relative to 9M’2019.

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