2017 results: Union Bank Plc profits dip 4.5%

Union Bank recently released its financial statements for the year ended December 2017.

Here are the key highlights of the results;

Revenue

Gross Earnings rose from N129  billion in 2016 to N163 billion in 2017. This represents a 26.3% increase year on year.  

Profit Before Tax

Profit Before Tax for the bank dropped slightly from N15.7 billion in 2016 to N15.5 billion in 2017.This represents a  1.2% decline year on year.

Profit After Tax

Profit after tax also dropped from N15.3 billion in 2016 to N14.6 billion in 2017. This represents a 4.5% decline year on year.

Earnings Per Share

Earnings per share also dropped from N0.92 in 2016 to N0.81 in 2017. This amounts to a 11.9% fall year on year.  

Dividends

The bank did not declare any dividends for the 2017 financial year.

Current Share price

Union Bank closed at N6.75 in yesterday’s trading session, down 0.75%. The bank made N163 billion as gross earnings. 

DOWNLOAD UNION BANK PLC FY 2017 RESULTS