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UBA records N81.62bn profit after tax in Q3

United Bank for Africa Plc (UBA) has reported N81.62 billion in Q3 2019, (32.3% increase) in its profit after tax for the period ended 30…

United Bank for Africa Plc (UBA) has reported N81.62 billion in Q3 2019, (32.3% increase) in its profit after tax for the period ended 30 September 2019 up from N61.69bn in Q3 2018.

In the lender’s interim financial statement published on the website of the Nigerian Stock Exchange, the bank generated N158.91bn in net interest income over the past nine months of 2019, a 5.45% increase compared to N150.69bn generated in Q3 2018.

The bank also generated a net fee and commission income of N63.29bn for Q3 2019 as against N50.53bn for the same period in 2018. This represents approximately a 25.25% increase.

The company’s profit before tax for the period under consideration increased by 24.16% to N98.23bn, up from N79.11bn in Q3 2018.

The company’s earnings per share for the period stood at N2.32, as against N1.72 in the third quarter of 2018.

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