UBA reports a 13.3% profit increase in audited FY 2019 financial statement

United Bank for Africa (UBA) Plc has released its audited financial statement for the financial year ended December 31st, 2019. The report, which was issued to the Nigerian Stock Exchange yesterday, indicated that there was a 13.3% increase in the company’s profit after tax.

As always, we are bringing you a summary of the report. See below.

Interest Income: UBA reported total interest income of N404.8 billion in full-year 2019, marking an 11.5% increase when compared to N362.9 billion that was reported for the preceding year.

Net Interest Income: In the same vein, net interest income stood at N221.9 billion, increasing by 8%, up from N205.6 billion.

Profit before income tax: In 2019, the tier-1 bank recorded a profit before income tax of N111.3 billion and this is 4.2% more than the N106.8 billion that was recorded in FY 2018.

Profit after income tax: UBA’s profit after income tax in 2019 stood at N89.08 billion, indicating that a 13.3% increase when compared to the N78.6 billion that was recorded in 2018.

Earnings per share (both basic and diluted) which is attributed to owners of the company during the period under review is N2.52. This is more than N2.20 earnings per share that was attributed to shareholders in 2018.

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