While gross earnings of the group soared by 8.4 percent to N60.1 billion from N55.4 billion declared in the prior period, interest income jumped by 3.9 percent to N44.3 billion from N42.7 billion.
The bank’s interest expenses declined by 18 percent to N13.4 billion and total expenses was cut marginally to N29.1 billion from N29.3 billion recorded for the corresponding period of 2015.
The banking group declared a profit before tax of N8.8 billion; representing a 35.7% growth from N6.5 billion in the first half of 2015.
Other highlights of the group’s results are basic and diluted earnings per share at 40.5 percent growth to 52 kobo per share from 37 kobo per share.
In reaction to the result, Union Bank Plc stock price at the Nigerian Stock Exchange, recorded a growth of 3.75 percent or 15 kobo to close at N4.15 today.
