By Dipo Olowookere
United Bank for Africa (UBA) Plc on Friday released its financial statements for the period ended December 31, 2017.
The lender, one of the biggest five in the country, declared a profit after tax of N78.6 billion in the period under review compared with N72.3 billion in the corresponding period of 2016.
This was after the financial institution recorded a profit before tax of N105.3 billion in 2017 against N90.6 billion in 2016.
In the results analysed by Business Post, the bank achieved an interest income of N325.7 billion against N264 billion in 2016, while the net interest income stood at N207.6 billion as at December 31, 2017 compared with N165.2 billion as at December 31, 2016.
For the net trading and foreign exchange income, it closed at N49.1 billion in the period under review against N43.8 billion in 2016.
It was disclosed in the financial results that the total assets of UBA stood at N4.1 trillion as at December 31, 2017, in contrast to N3.5 trillion as at December 31, 2016 with the deposits from customers at N2.7 trillion in 2017 compared with N2.5 trillion.
For the total liabilities, the lender said it was worth N3.5 trillion last year against N3.1 trillion two years ago.
Meanwhile, the board of directors of UBA said it is proposing the payment of 65 kobo per share for the year 2017 against 55k it paid in2016.
The lender noted that this proposed final dividend and the 20 kobo per share interim dividend paid in September 2017 would be presented to shareholders for approval at the next Annual General Meeting (AGM).
