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BANKING & FINANCE

UBA Maintains Gradual Loan Growth

United Bank for Africa Plc’s (UBA) audited 2013 full year results has shown the bank has maintained an incremental loan growth in the last four years.

The bank’s five-year financial summary reflected a steady, but gradual increase in its loan book. It showed that its loans and advances to customers climbed by 58 per cent in the past four years, to N937.620 billion in 2013, as against the N590.797 billion recorded in 2010.

The bank has continued to increase loans to consumer, upstream oil and gas, manufacturing and the telecoms sectors. In fact, this made up 70 per cent of its loan books in 2013.

Similarly, its customer deposit has climbed steadily in the last five years by 61 per cent, as it stood at N2.161 trillion in 2013, compared to the N1.245 trillion recorded in 2009.

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