UBA Plc reports profit of N119 billion in 2021

United Bank for Africa (UBA) Plc has issued its full-year financial results for 2021, which show a profit of N118.68 billion. This represents an increase of 8.72 percent year over year.

In addition, the bank recorded earnings per share of N3.39, up 9.35 percent from N3.10 a year earlier in 2020. UBA Plc has almost doubled its profits in the last six years, from N60 billion in 2015 to almost N119 billion currently.

According to the announcement, interest income increased by 10.84 percent in FY 2021, from N427.86 billion to N474.26 billion.

UBA’s profit gain is due to an increase in all margins, since interest and fee income, as well as commission income, have all increased year over year.