United Bank for Africa, UBA, Plc posted considerable growths in the top-line and bottom-line in 2015.
Key extracts of the audited report and accounts of UBA for the year ended December 31, 2015 released on Monday, March 14, at the Nigerian Stock Exchange (NSE) showed that gross earnings jumped by 10 per cent while profit after tax grew by 25 per cent.
On the back of the improved earnings, the board of the bank has recommended a final dividend of 40 kobo per share, bringing the total dividend payout per share to 60 kobo or N21.77 billion. The bank had earlier paid interim dividend of 20 kobo per share.
UBA Group’s gross earnings closed 2015 at N314.83 billion as against N286.62 billion recorded in 2014. Profit before tax rose from N56.20 billion to N68.45 billion. Profit after tax also increased from N47.91 billion to N59.65 billion. Earnings per share thus improved from N1.53 in 2014 to N1.79 in 2015.
Group Managing Director, United Bank for Africa (UBA) Plc, Phillips Oduoza, described the 2015 performance as a new high that reflects the commitment of the bank to creating values for stakeholders.
He said the bank’s resilient business model, geographic diversification, proactive strategies, and strong governance created an edge for it through the year.
“Our 2015 profit is a new high, reflecting the hard work and discipline of our board, management and staff in creating value for all stakeholders. We remain committed to growing in a responsible manner that aligns with our vision of building an enduring institution,” Oduoza said.
