UBA records N204.8 billion interest income for H1 2019

United Bank for Africa Plc reported a 9.3% increase in its interest income for the half-year period ended June 30, 2019.

United Bank for Africa Plc reported a 9.3% increase in its interest income for the half-year period ended June 30, 2019.

This was disclosed in the company’s H1 2019 financial statements published earlier today on the website of the Nigerian Stock Exchange.

Interest income: The bank’s interest income for the period stood at N204.8 billion, compared to N187.2 billion recorded in 2018, representing a 9.3% increase.

Profit Before Tax: This went up by 20.8% to N70.2 billion during the period under review, compared to N58.1 billion in June 2018.

Profit After Tax: Similarly, the bank’s profit after tax stood at N56.7 billion as against N43.7 billion which was recorded during the same period in June 2018; representing a 29.5% increase.

Earnings Per Share (EPS) stood at N1.23 in 2018 compared to N1.62 in 2019.

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Major assets were derived from Cash and balances, financial assets at fair value through profits or loss, derivative assets, investments securities.