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Q2, 2012 Earnings: UBA Grows Net Income to N 26 billion

By Afolabi Ogunde on July 11, 2012

Africa’s global bank, UBA Plc, transmitted its Q2, 2012 earnings to the Nigerian Stock Exchange yesterday.

The company reported Gross Earnings of N 111 billion, up 22%, from the N 91.2 billion it made over Q2, 2011.

Operating income for the period was N 80.5 billion, up 19%, from N 70 billion over the same period last year.

Profit before tax came in at N 31.8 billion, a rise of 159% from the N N 12.3 billion it made over Q2, 2011.

Net income for the quarter was N 27 billion, up 162% from the N 10.3 billion it made over the corresponding period in the previous year.

Deposite grew to N 1.499 trillion from N 1.464 trillion over Q1, 2011.

Credit Growth was marginal, improving by 5% to N 700 billion, from N 667 billion over the same period last year.