Union Bank of Nigeria Plc Q3 2018 Conference Call and Earnings Presentation - The Key Takeaways

Proshare

Thursday, November 01, 2018 07:20 PM / Proshare Markets

 

Union Bank Plc held its Q3 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 by stating the macroeconomic conditions within the period under review, regulatory updates within its industry of operations and national priorities and consumer trends.    

Union Bank Plc, according to its Q3 2018 financial highlights, recorded a gross earnings of N122.2bn in Q3 2018 as against N109.5bn in Q3 2017, up by 12% YoY while its net interest income also moved up by 5% from N49.4bn in Q3 2018 as against N46.9bn in Q3 2017.The bank’s  Profit After Tax increased by 18%  YoY from N12.4bn in Q3 2017 to N14.7bn in Q3 2018.  

 

Its balance sheet snapshot reflected that its shareholders’ funds declined by -15.12% while its Capital Adequacy Ratio also dropped by 1% to 16.8%

 

Proshare Nigeria Pvt. Ltd.

 

At the close of trading today, the shares of Union Bank Plc closed flat at N5.05k.  YTD, the stock has dropped by -35.26%.

 Proshare Nigeria Pvt. Ltd.

 

In a nutshell, below are the key takeaways from the Q3 2018 earnings presentation made by the bank’s management;

  1. Union Bank Plc Deposit growth was largely driven by FCY and low cost LCY deposits
  2. The growth in its Gross earnings recorded by the bank was driven by higher earning assets and growth in non-interest income.
  3. The bank look to be Nigeria's most reliable and trusted banking partner  by 2019 and beyond and also focus on digital and innovation
  4. The bank recorded N3.9bn in recoveries in 9M 2018 in relation to NPL; and
  5.  It also continue to selectively grow its loan book with high quality risk assets.

 

Visit Union Bank Plc IR Page on Proshare MARKETS


Proshare Nigeria Pvt. Ltd.


Related News

1.       Union Bank Plc IR Page – Proshare MARKETS

2.      UBN Declares N14.66 billion PAT in Q3'18 Results (SP:N5.05k)

3.      Union Bank Plc Announces Resignation and Appointment of Chief Financial Officer

4.      Union Bank’s Rights Issue Records 120 percent Subscription Success

5.      Union Bank Plc Announces Results of Its Rights Issue

6.      Union Bank Plc Announces Board Changes

7.      Union Bank Plc Q3 2017 Conference Call and Earnings Presentation - The Key Takeaways

8.     UBN declares N12.4billion PAT in Q3 2017 Results,(SP:N6.19k)

9.      UBN Rights Issue: Tactical or Strategic?

10.  Union Bank 2017 Rights Issue Opens Today; Closes October 30th, 2017

 

READ MORE:
Related News
SCROLL TO TOP