BUSINESS

UBA Grows Profit By 8.72% In 2021

UBA Plc, Africa’s leading bank has released its consolidated and separate financial statements for the year ended 31 December 2021 with 8.72% rise in group profit after tax to N118.678 billion from N109.162 8billion in 2020.

Group net interest income rose to N316.711 billion from N259.467 billion while total assets rose to N8.541 trillion from N7.693 trillion in 2020.

Meanwhile, the directors of the group have proposed a final dividend of N0.80 per share (31 December 2020: N0.35 per share) from the retained earnings account as at 31 December 2021.

This proposed final dividend and the N0.20 per share interim dividend paid in September 2021, brings the total dividend for the year to N1.00, amounting to a pay-out ratio of 29% (31 December 2020: 16%), and a yield of 12.4%.

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