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%
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%.
In a nutshell, below are the key takeaways from the Q3 2018 earnings presentation made by the bank’s management;
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1. Union Bank Plc IR Page – Proshare MARKETS