Emeka Emuwa, CEO, Union Bank

Adebayo Obajemu

Union Bank, one of the longest standing Bank in Nigeria, declared gross earnings of N81.66 billion for the first half of 2020. This translates to a growth of 7.68% from N76 billion achieved the previous year.

The unaudited financial statement of Union Bank for the first half of 2020 shows that the profit after tax (PAT) of the bank declined by 9.22% to N10.76 billion from the PAT of N11.85 billion in H1’19.

Earnings per share for the H1’20 is evaluated as 37 kobo, down by 9.22% as against the EPS of 41 kobo in H1’20.

Currently trading at the share price of N5.40, the P.E ratio of the bank is 14.62x with earning yield of 6.84%.