UBA records N153billion profits before tax 

United Bank for Africa (UBA), grew its Profit Before Tax (PBT) by 20.3 percent to N153.1 billion in 2021 compared to N127.3 billion at the end of the 2020 financial year.

These figures were made public at the bank’s 60th Annual General Meeting in Abuja yesterday. In the bank’s annual reports, it was also stated that UBA’s Profit After Tax (PAT) rose by 8.7 percent to N118.7 billion in 2021, compared to N109.2 billion recorded the previous year.

As a result of the performance, the bank proposed a final dividend of 80 kobo for every ordinary share of 50 kobo for the financial year ended December 31, 2021, thus bringing the total dividend for the year to N1.00 as the bank had earlier paid an interim dividend of 20 kobo

UBA Chairman, Tony Elumelu assured shareholders and investors of the bank’s “unwavering commitment to sustain its current growth trajectory, pointing out that the bank’s efforts at business diversification across Africa and beyond will be vigorously pursued.’’

Elumelu said the bank’s strategic investment decisions over the past few years have “translated to huge returns for its investors, despite the challenging business environment witnessed in the last two years.”