United Bank for Africa Plc has posted gross earnings of N570.2 billion in its First quarter 2024 operations against N271.1 billion recorded in the corresponding period in 2023. Specifically, the group achieved 110 percent rise in gross earnings from N271.1billion to N570.2 billion while Profit Before Tax rose by 155 percent from N61.7…United Bank for Africa Plc has posted gross earnings of N570.2 billion in its First quarter 2024 operations against N271.
Commenting on the results, UBA’s Group Managing Director, Oliver Alawuba, said the Group delivered a strong first quarter performance, building on the solid momentum of 2023, as well as the ongoing execution of its long-held strategy of customer focus, geographic diversification, and effective risk management and governance.
“The Group’s balance sheet grew steadily with total assets increasing by 23 per cent to N25.4 trillion while customer deposits closed at N18.4 trillion, recording a 23.per cent increase year-on-year, largely attributed to growth in current accounts and savings accounts. “We continue to differentiate ourselves across all key financial metrics, with a keen focus on high-quality risk adjusted revenues and cost discipline, while maintaining very sound asset quality.
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