{"id":5831,"date":"2025-04-27T12:16:42","date_gmt":"2025-04-27T12:16:42","guid":{"rendered":"https:\/\/panoramanews.com.ng\/?p=5831"},"modified":"2025-04-27T12:16:42","modified_gmt":"2025-04-27T12:16:42","slug":"uba-declares-n3-19trn-revenue-n767bn-profits","status":"publish","type":"post","link":"https:\/\/panoramanews.com.ng\/index.php\/2025\/04\/27\/uba-declares-n3-19trn-revenue-n767bn-profits\/","title":{"rendered":"UBA declares N3.19trn revenue, N767bn profits"},"content":{"rendered":"

\"\"<\/p>\n

By Amah<\/p>\n

\n
Kindly share:<\/p>\n

The United Bank for Africa (UBA) has declared a gross revenue of N3.19 trillion and a profit after tax of N767 billion for the 2024 financial year.<\/p>\n

Chairman, Board of Directors of UBA, Mr Tony Elumelu announced the feat at the bank\u2019s 63rd Annual General Meeting (AGM) on Friday in Abuja.<\/p>\n

Elumelu said that the bank sustained its deposit mobilisation efforts by growing total deposits by 42 per cent to N24.65 trillion from N17.36 trillion in 2023.<\/p>\n

He said that its loan book also expanded by 35 per cent to N7.51 trillion from N5.55 trillion.<\/p>\n

\u201cThe group maintained a well-structured and diversified balance sheet, with total assets and shareholders\u2019 funds closing at N30.32 trillion and N3.52 trillion respectively,\u201d he said.<\/p>\n

Elumelu announced an interim dividend of two Naira per share, and a final dividend of three Naira per share to make a cumulative dividend of five Naira per share.<\/p>\n

He said that UBA was on course to meet the new minimum capital requirement of N500 billion for international commercial banks as stipulated by the Central Bank of Nigeria (CBN).<\/p>\n

The chairman expressed the bank`s commitment to driving Africa\u2019s economic transformation by facilitating cross-border trade and empowering Small and Medium Enterprises (SMEs).<\/p>\n

\u201cThrough a straight partnership with the African Continental Free Trade Area (AfCFTA) Secretariat, UBA has pledged up to six billion dollars over three years to support SMEs in key sectors.<\/p>\n

\u201cThe sectors include agro-processing, automotive, pharmaceuticals and transport\/logistics, aimed at reducing import dependency and boosting intra-African trade.<\/p>\n

\u201cBeyond financing, UBA is focused on de-risking critical sectors, equipping SMEs with essential skills and leveraging technology to enhance trade integration and economic resilience across the continent,\u201d he said.<\/p>\n

The Group Managing Director of UBA, Mr Oliver Alawuba, said that in spite of the global uncertainties and economic challenges, the bank delivered outstanding results<\/p>\n

He said that it expanded its global presence and reinforced its position as a leading financial institution.<\/p>\n

According to Alawuba, these accomplishments are a testament to the bank`s unwavering focus on enterprise, excellence and execution.<\/p>\n

He said that the bank\u2019s gross earnings and net interest income reached their highest levels.<\/p>\n

\u201cGross earnings grew year-on-year by 53.6 per cent to N3.19 trillion and our net interest income increased by 116.4 per cent to N1.53 trillion, asserting UBA\u2019s position as a leading financial institution,\u201d he said. (NAN)<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

By Amah Kindly share: The United Bank for Africa (UBA) has declared a gross revenue of N3.19 trillion and a…<\/p>\n","protected":false},"author":1,"featured_media":5832,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[466],"class_list":["post-5831","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-economy","tag-united-bank-of-africa"],"yoast_head":"\nUBA declares N3.19trn revenue, N767bn profits - Panorama News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/panoramanews.com.ng\/index.php\/2025\/04\/27\/uba-declares-n3-19trn-revenue-n767bn-profits\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UBA declares N3.19trn revenue, N767bn profits - 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