UBA Plc unaudited Q3 ended Sept. 30th, 2017: Gross earnings & Net Income Grew by 25.8% and 23.04% respectively in Q3 ’17.

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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.

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