United Bank for Africa Plc (UBA), a leading Pan-African financial services group with a presence in 20 African countries as well as the United Kingdom, the United States of America and France have reported total assets of N8.5 trillion, representing an 11 per cent growth in the year ended December 31, 2021.
The Bank also announced a final dividend payment of 80 kobo for every 50 kobo ordinary share for the period under review. This takes the total dividend to N1. 00 kobo, made up of the interim dividend of 20 Kobo earlier declared.
In the audited results presented to shareholders at the Bank’s Annual General Meeting (AGM) held in Abuja on Thursday, the Bank said its Gross Earnings grew by 16.9 per cent from N615.77 billion to N658.29 billion.
Profit before tax stood at N153.07 billion, while Profit after tax stood at N118.68 billion and the share price of the Bank currently stands at N8.25k.
Overall, the group profitability grew by 20.3 per cent, further demonstrating UBA’s dominance in the financial services space.
Chairman, Board of Directors of UBA Plc, Tony Elumelu said the year 2021 demonstrated human resilience and innovativeness, in the face of unprecedented challenges.
“Against a backdrop of a world economy that continued to be challenged by Covid-19, we saw extraordinary human responses – not least in Africa, where policymakers, the private sector and our African academics and scientists showed that adversity, can also create opportunity.
“UBA epitomised this spirit of tenacity, responsiveness, and ingenuity, as illustrated by our exceptional performance during the year”.
Group Managing Director/CEO of UBA Plc, Kennedy Uzoka pledged to consolidate the Bank’s operations globally and explore new opportunities as they manifest in the normal course of business.
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