UBA Plc H1 2018 Conference Call and Earnings Presentation - The Key Takeaways

Proshare

Saturday, September 08, 2018 09:15 AM / Proshare Markets 

UBA Plc held its H1 2018 Investors and Analyst Conference Call Earnings Presentation. Proshare NG participated along with leading market analysts and professionals. 

The bank, in its presentation gave an overview of the operating environment. The bank stated that Nigeria’s Interest rate policy remains stable, as Naira stabilizes and inflation moderates. 

UBA Plc, according to its 2018 half year results snapshot, recorded a gross earnings of N257.92bn in H1 2018 as against N222.72bn in H1 2017, up by 15.8% YoY while its net interest income also moved up by 9.6% from N111.07bn in H1 2018 as against N101.38bn in H1 2017.The bank’s  Profit After Tax increased by 3.4%  YoY from N42.34bn in H1 2017 to N43.78bn in H1 2018.  

Its balance sheet snapshot reflected that its loan and advances and shareholders’ funds declined by -6.5% and -6.3% respectively while its total assets and customer deposits moved up by 4.9%  and 6.1% YoY respectively. 

In a nutshell, below are the key takeaways from the H1 2018 earnings presentation made by the bank’s management;

1.  UBA Ghana is close to meeting the $US400m capital requirements through internally generated revenue sources

2.  The bank translated it balance sheet in H1 2018 at N344 to a dollar.

3. The Group doubled income from trade services and grew electronic banking income by  24%, reflecting increasing  penetration of our digital banking offerings.

4.  The bank closed 2018H1 with 0.8% cost of risk, with most  provisions arising from delinquent assets outside of Nigeria; and

5.  The bank has transited to IFRS 9, making additional N48.6billion provisions through the owner’s equity.

Proshare Nigeria Pvt. Ltd.


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