The United Bank for Africa (UBA) Plc has reported a profit after-tax of N766.5 billion for the 2024 financial year, a 26.1% surge from N607.6 billion in 2023.
UBA disclosed the profit in the group’s 2024 financial statement, which revealed commendable improvements across key performance indicators:
- Revenue surged by 53.5% to N3.1 trillion from N2.07 trillion in 2023.
- Earnings per share increased to N21.73, compared to N17.49 in 2023.
- Profit before tax grew by 6.1% to N803.7 billion, from N757.6 billion.
- Total assets expanded by 46.6%, reaching N30.3 trillion, up from N20.6 trillion the previous year.
- Total liabilities rose by 44.5% to N26.9 trillion, compared to N18.6 trillion in 2023.
- Net operating income increased by 8.4%, hitting N1.2 trillion from N1.1 trillion in 2023.
- Retained earnings grew by 54.9% to N1.4 trillion, from N919.8 billion.
UBA’s strong financial standing is also seen in its deposit portfolio, with loans and advances to customers totaling N7.5 trillion, while customer deposits surged by 42% to N24.6 billion.
The bank declared a final dividend of N3.00 per ordinary share of 50 kobo, subject to applicable withholding tax.
This follows the N2.00 interim dividend paid in October 2024, bringing the total dividend payout for the year to N5.00 per share.
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