United Bank for Africa Plc on Monday submitted its financial report for the nine months (Q3) ended September 30, 2017 showing a strong growth of 25 per cent in gross earnings at N333.905billion from N265.527billion in Q3’16.
The tier-1 lender’s reported interest income improved by 30.11percent for the 9M’17 to N238.092billion from N182.989billion in the corresponding period of 2016.
Net fee and commission income grew slightly by 4.030 per cent. Other operating income also impressed with a 79.38 per cent growth to N3.453billion, from N1.925billion.
Total operating expenses grew by 26.37 per cent N145.699billion from N115.297billion.
Profit before tax grew by 33.21 per cent to N78.325billion from N58.798billion.
Profit after tax (PAT) grew by 23.04 per cent N60.920billion from N49.512billion.
Kenneth Uzoka, MD UBA