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UBA records 110% rise in gross earnings to N570bn

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United Bank for Africa Plc has achieved a 110 percent Year-on-Year rise in gross earnings to N570.2 billion in the first quarter of 2024 as against N271.1 billion recorded in the same period in 2023 .

Commenting on the results, UBA’s Group Managing Director, Oliver Alawuba, said the Group delivered 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 percent to N25.4 trillion. Customer deposits closed at N18.4 trillion, recording a 23 percent increase year-on-year, largely attributed to growth in current accounts and savings accounts.

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