UBA Shares Gain as Investors Respond to Impressive Half-year Performance
The shares of United Bank for Africa Plc gained 5.9 per cent yesterday following investors’ positive reaction to its impressive half year financial results ended June 30, 2019. The pan-African bank last Friday unveiled its results, showing a jump of 21 per cent in profit and recommended an interim dividend of 20 kobo per share.
Market operators said the shares would rise further as investors move in to benefit the interim dividend and take advantage of the low price of the stock to increase their stakes because of the prospects in the bank. As at 30 June 2019, the bank’s total assets grew by 4.8 per cent crossing the N5 trillion mark to N5.10 trillion. Customer deposits also rose by 4.8 per cent to N3.51 trillion, compared to N3.35 trillion as at December 2018. This growth trajectory underscores UBA’s market share gain, as it increasingly wins customers through its revitalised customer service culture coupled with innovative digital banking offerings.
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