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UBA records N1.6bn profit in Q1


By Agency reporter, Published: Tuesday, 27 Apr 2010

The management of United Bank for Africa Plc, on Monday, presented the bank‘s first quarter results for the period ended March 31, 2010, to the Nigerian Stock Exchange and stockbrokers at the trading floor.

By the result, the bank‘s after tax profit fell by 79.42per cent, from N7.56bn in the same period in 2009, to N1.6bn in the review period, over a gross earnings which also fell by 15.91 per cent, from N57.29bn to N48.17bn.The market did not respond to the result on Monday, as the bank‘s share price remained at N13.07, at which it opened for trading.


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