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UBA announces  20 kobo bonus, reports 33% profit rise

UBA announces  20 kobo bonus, reports 33% profit rise

In accordance with the bank’s culture of paying both interim and final cash bonus, the United Bank of Africa’s Board of Directors has announced an interim bonus of 20 kobo per share for all ordinary shares of 50 kobo held by each of its stakeholders. Information Guide Nigeria

This announcement was made yesterday in the bank’s audited financial results for the period ended June 30, 2021, with the title ‘UBA records 33 percent YoY profit growth, declares 20k per share interim dividend.

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Punch reports that the bank has attained growth across major income lines irrespective of the challenges faced due to the emergence of the Covid-19 pandemic. Jamb Result

UBA recorded a rise in gross earnings from 316bn to N300.6bn in H1 2020 and the group’s profit after tax increased to N60.6bn indicating 36.3 percent increase against the initial N44.4bn.

According to the audited financial result statement, in December 2020, the bank’s shareholders’ funds remained robust at N752.5bn up from N724.1bn showing its strong capacity to generate internal capital.

With an increase of 7.4 percent, Customers’ deposits rose to N6.1tn. dollar to naira

Speaking, The Group Managing Director/Chief Executive Officer, UBA, Mr. Kennedy Uzoka said the first half of the year witnessed positive growth, as global economic improvement exceeded expectations.

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Idongesit Akpa-Ayang

Idongesit is a graduate of Communication Arts, University of Uyo. Currently working as a news reporter at InfoGuide Nigeria.

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