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Mr. Kennedy Uzoka, Group Managing Director/CEO United Bank for Africa (UBA),.

UBA Plc FY 2018 Conference Call & Earnings Presentation – The Key Takeaways

United Bank for Africa Plc held its FY 2018 Investors and Analyst Conference Call Earnings Presentation.

Proshare NG participated along with leading market analysts and professionals.

The management of the bank in its review of the domestic operating environment stated that Nigerian macros is gaining strength. Nigeria’s Interest rate policy remains stable, as Naira stabilizes and inflation moderates.

         United Bank for Africa Plc recorded gross earnings of N494.04bn in FY 2018 as against N461.56bn in FY 2017, up by +7% YoY. The increase in earnings was driven by interest income growth as a result of strong interest income on treasuries, reflecting the low-risk appetite and treasury-led strategy adopted during the year.

The bank’s Profit After Tax increased by 1.4%  YoY from N77.55bn in FY 2017 to N78.61bn in FY 2018.

The bank’s balance sheet/statements of financial position reflected that it recorded a drop of 4.8% in its shareholder’s fund while its total assets, Loans and advances and customer deposits went up 19.7%, 3.9% and 22.5% respectively.

At the close of trading today, the share price of UBA Plc closed flat at N7.70k.

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