Kennedy Uzoka, MD UBA

Adebayo Obajemu

The financial report of United Bank for Africa for the three months ended 31, March 2020 shows that the bank made improvement in its top line and bottom line figures.

The unaudited financial statement shows that the Bank made grow earnings of N147.17 billion, up by 11.77% when compared to the gross earnings of N131.67 billion in Q1 2019.

Profit before tax appreciated by 8.52% to N32.73 billion from N30.16 billion reported in the first quarter of 2019.

UBA in three months posted N30.1 billion as profit after tax, up by 5.01% when compared to the profit after tax of N28.67 billion reported in the first quarter of 2019. The earnings of the firm stand at N0.88.

With reference to the share price of N5.95, the P.E ratio of United Bank for Africa stands at 6.76x with earnings yield of 14.79%