United Bank for Africa has announced its 2024 half-year earnings, declaring a pre-tax profit of N401.5 billion, slightly down from N403.6 billion reported in the same period last year.
The bank’s strong profit performance was supported by a substantial net interest income of N614.4 billion after impairments, representing a remarkable 395% increase from N124.1 billion in H1 2023.
This growth indicates that the bank’s profit was primarily driven by core business fundamentals rather than foreign exchange fluctuations.
UBA further impressed investors by declaring an interim dividend of N2 per share, reflecting its solid financial performance in the first half of 2024.
This move underscores the bank’s commitment to returning value to shareholders as it navigates a challenging market landscape.
