Tuesday, August 29, 2017 5:43PM / Proshare Markets
UBA Plc held its H1’17 Investors and Analyst Conference Call Earnings Presentation. Proshare NG participated along with leading market analysts and professionals.
The management of the bank in its IR presentation described the macro-economic overview for Nigeria as gradually growing as the economy is slow but recording steady recovery. Also, an overview of the Nigerian market and regulatory environment was given as the key developments in selected African markets.
A snapshot on the bank’s half year 2017 financial results revealed that it recorded 34.5% growth in Gross Earnings; 58.1% growth in Net Interest Income; 39.2% growth in Net Operating Income; 65.5% growth in PBT and 56.2% growth in PAT while its cost to income ratio stood at 58.6% in H1 2017 from 64.2% in H1 2016.
The splitting of the bank’s gross earnings by geography revealed that Nigeria contributed 66% of the earnings while Africa and RoW contributed 34% of the earnings. Similarly, in terms of total assets, Nigeria contributed 71% while Africa and RoW contributed 29%.
In a nutshell, below are the key takeaways from the H1 2017 earnings presentation made by the bank’s management;
· The bank expects its net interest margin to be greater than 7% at the end of 2017FY.
· The bank is connecting Africa and the world through its presence in key African markets and major global financial centres – New York, London and Paris.
· Maintains strong financial capacity – high capitalization (BASEL II capital ratio well above requirement) and strong liquidity.
· It has a sound governance, risk management and compliance culture and adhere to international best practice; and
The bank expects its NPL ratio to be at 4% for FY2017.
1. UBA Plc Q2 2017 Results: Stringent Cost Management and Gains from FX Boost PBT
2. UBA Plc H1-17 Results: Impressive Performance Despite OPEX Pressure
3. United Bank for Africa Plc H1'17 - Earnings Beat as Bank Maintains Strong Earlier Run Rate
4. UBA Reports Q2 2017 Results - OPEX Increased by 20% YoY
5. UBA Declares N42.34bn PAT in Q2 2017 Results; Proposes 20k per share Interim Dividend,(SP:N9.71k)
6. UBA Plc Has Fully Complied With TSA Policy
7. UBA Plc Issues notification of 2017 Half Year Results & Payment of Interim Dividend.
8. UBA Plc Announces Cancellation of UBA Staff Share Investment Trust Scheme
9. UBA Plc Announces Board Closed Period.
10. UBA Plc Announces Board Meeting Date
11. S&P assigns ‘B and B’ ratings and stable outlook on UBA Plc
12. UBA Plc – PBT and PAT Advanced by 41% and 62% Respectively in Q1 2017
13. UBA Plc - Notice to Shareholders on AGM
14. UBA Issues Notification of Closed Period and Dividend Consideration
15. UBA Plc Scoops Awards in Five categories at the Global Banking Awards, London