BUSINESS

UBA Grows Profit By 34.6% In Q3 2021

 

United Bank For Africa Plc (UBA), Africa’s leading bank has released its Condensed Interim Consolidated Financial Statements for the period ended 30 September 2021 with group profit for the nine month period jumping by 35.6% to N104.597 billion from N77.132 billion in same period in 2020.

Group profit in three month period also rose by  34.6% to N44.014 billion from N32.702 billion in Q3 2020.

Other highlights of the result released at the Nigerian Exchange on Monday showed that the group recorded net interest income increase to N229.265 billion from N186.022 billion in nine months and increase to N81.197 billion from N66.698 billion in Q3 2020; group total non-interest income dropped to N102.419 billion from N107.762 billion in nine months while it rose to N38.041 billion from N30.377 billion in Q3 2020.

The group net operating income after impairment loss on loans and receivables rose to N328.279 billion from N282.308 billion in nine months while for the three months it rose to N119.970 billion from N93.406 billion in Q3 2020.

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