BREAKING: UBA reports N85.75bn PBT in H1 2022, proposes N0.20 interim dividend
United Bank for Africa Plc (UBA) on Thursday announced N85.75billion profit before tax in its audited half year (H1) ended June 30, 2022, an increase of 13 per cent from N76.19billion reported in the corresponding period last year.
The pan-African bank on the Nigerian Exchange Limited (NGX) declared 16 per cent increase in profit to N70.33billion in H1 2022 from N60.58billion in H1 2021, amid 1.22 per cent drop in tax expenses.
With the growth in profit, the management of the bank declared N0.20 interim dividend for the second consecutive year.
Earnings per share for the period was reported at N1.98, a 17.2per cent increase from the N1.69 reported a year earlier.
From the balance sheet position, total assets rose by 5.4 per cent to N8.99trillion as of June 30, 2022 from N8.54trillion reported in 2021 full financial year.
The growth in UBA’s total assets was driven by six per cent increase in deposits from customers to N6.73trillion as of June 30, 2022 from N6.4trillion in 2021, while loans and advances to customers rose by 2.7 per cent to N2.75trillion as of June 30, 2022 from N2.68trillion in 2021.
The bank recently paid a final dividend per share of N0.80 per share to its eligible shareholders for the period ended December 31, 2021.
