A leading Nigerian Bank, the United Bank for Africa has said posted a profit of N131.9b.
The profit announced by the banking giant is before tax posted as at the end of the 2020 financial period. The profit rose from from N111.3bn at the end of 2019.
In a statement said on Monday made available to Irohinoodua titled ‘’UBA delivers double digit growth in gross earnings, as Profit hit M132bn’’ the bank attributed the milestone to the quality of leadership and its diligent staff and customers.
It stated that ‘’In the same vein, the profit after tax rose remarkably by 27.7percent to N113.8bn compared to N89.1bn recorded at the end of the 2019 financial year’’
The bank said this is an indication that the Bank gross earning has increased by by 10.8percent to N620.4bn from N559.8bn recorded in the period of 2019 which has also make an increase in asset of the Bank by 37percent to N7.7tn for the year.