UBA grows Q3 profit by 35.61% to N104.6bn

United Bank for Africa (UBA) between January and September, reported N104.6 billion in post-tax profit.

The figure is a significant increase from the N77.1 billion reported in 2020.

The result is contained in UBA’s third quater result published on the Nigerian Exchange on Sunday.

Analysis of the report shows a significant growth in the banks top-line and bottom-line figures.

Read also: UBA publishes names, bank details of forex policy violators

The breakdown shows UBA recorded gross earnings of N489.192 billion in the first nine months up by 7.83% when compared to N77.1 billion in 2020.

While Profit after tax grew year on year by 35.61% to N104.597 billion from N77.132 billion reported in Q3 2020.

Also, earnings per share for the period under review stands at N3.06, up by 35.61% from the EPS of N2.26 in Q3 2020.

At the share price of N8.40, the PE ratio of UBA stands at 2.75x with earnings yield of 36.41%.

Also, there was an increase in the amount made from electronic banking transactions with the figure coming to N41.9 billion.

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