UBA’s gross earnings rise 143%, profit hits N757.7bn

United Bank for Africa Plc has recorded a 143 per cent rise in gross earnings to N2.08 trillion in 2023 financial year from N853.2 billion in 2022.

The banks’ total assets also rose by 90.22 percent, doubling the N10 trillion mark, to close at N20.65 trillion in December 2023; up from N10.86 trillion in 2022. During the 2023 financial year, UBA Group cost-to-income ratio dropped from 59.2%, in 2022, to 37.2 per cent pointing at the Group’s improving efficiency.

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