The Nation Newspaper UBA records N1.3tr gross earnings in Q3
UBA) Plc recorded impressive growths in earnings and profitability in the third quarter with gross earnings crossing the trillion naira mark to N1.31 trillion.
The balance sheet also improved significantly. Total assets rose to N16.24 trillion, representing a 49.5 per cent increase over N10.86 trillion recorded at the end of December 2022. Group Managing Director, United Bank for Africa Plc, Mr. Oliver Alawuba, said the group has once again shown sustainable and remarkable improvement in key performance metrics over the period, reflecting its commitment to delivering value to shareholders and various stakeholders.
Speaking on plans and strategy to sustain and surpass the performance at the end of the year, he explained that the bank will continue to leverage its customer-centric strategies, speed to market, and innovation to consolidate market share in its various jurisdictions.He assured of the bank’s commitment towards expanding and deepening digital and other transactional banking offerings while building strategic alliances to take advantage of emerging opportunities in due time.
“This is reflective of the combined impact of higher asset yields, modest funding cost, and balance sheet optimisation,” Nwaghodoh said.
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