Official: UBA Plc Post 9% Drop in PAT To N46.6billion. See Highlights…

UBA PCL released its 2013 FY results showing a 12% increase in Gross Earnings from N220billion in 2012 to N246.6billion. Highlight of the results are as follows;

• Net Interest income rose 12.6% to N103billion (2012: N91.6billion)
• Loan Impairment rose 186% to N13billion
• Operating expenses rose 5% to N107billion (2012: N102billion)
• Operating profit was N56billion a 7% rise from N52billion posted a year earlier
• Profit after tax was N46.6billion a 9% drop from N51.4billion posted in 2012.
• Drop in PAT was a result of a massive rise in taxation from N533million in 2012 to N9.4billion in 2013.
• Loans and advances to customers also rose 42% to N937billion
• Customer deposits rose 25% to N2trillion.

UBA Results. First appeared in the website of the NSE