UBA Post N61.7 Billion PAT in Q3 2018

0

Africa’s global lender, the United Bank for Africa Plc (UBA) on Tuesday reported a profit for the period of N61.69 billion in its third-quarter report ended September 30, 2018, compared to N60.92 billion recorded the same period of 2017.

UBA Plc Q3 2018 results for the period ended September 30th, 2018 was released to the market on 15th October 2018. The Bank recorded a 12.3% increase in Gross earnings when compared to the corresponding period in 2017.

The total assets recorded by the bank grew by 10.8% year to date recorded as at December 2017. The bank recorded a PBT and PAT at ₦79.1 billion and ₦61.7 billion naira respectively. In addition, the firms operating expenses increased minimally by 2.3% i.e from ₦145 billion recorded in 2017 to ₦149.1 billion amidst the uncertainties in the business environment.

Another feat accomplished by the bank is the growth in customer deposits which grew from ₦2.73 trillion in December 2017 to ₦3.18 trillion in September 2018 this accounts for a 16.2% year to date growth.