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Tag: UBA

Banking

UBA hits N2trn revenue, raises N607.69bn post-tax profit

United Bank of Africa has announced a 143 per cent increase to N2.08 trillion in its gross revenue for the 2023 financial year, its highest ever, as well as a profit after tax of N607.69 billion. The company’s profit before tax increased by 277.2 per cent to N757.68 billion. This was disclosed by Chairman of […]

News

UBA vows to meet CBN’s N500bn capital demand before deadline

The Executive Director of Finance and Risk Management for United Bank for Africa, Ugochukwu Nwaghodoh, has said that the banking group would meet the new capital requirement before the March 2026 deadline given by the Central Bank of Nigeria. This disclosure was made by Nwaghodoh at the 75th International Global Media Conference held at the […]

Banking

UBA, Stanbic, two other banks fail to file 2023 results

Four banks have disclosed that they will delay the filing of their audited results for 2023. The United Bank for Africa, Zenith Bank, Stanbic IBTC, and Wema Bank had announced that they would not meet the deadline for the filing of their audited results for the last financial year. The listed companies are expected to […]

UBA, African Guarantee Fund partner on $100m SME loan
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UBA, African Guarantee Fund partner on $100m SME loan

Melvin Onwubuke   The African Guarantee Fund and United Bank for Africa have signed a partnership that will benefit Small and Medium Enterprises across 20 African countries. According to a statement from UBA on Monday, under this agreement, the AGF will support and guarantee $50 million portfolio guarantees for bank clients that run SMEs across […]

Equity investors lose N1.5tn as bond yield rises
News

Equity investors lose N1.5tn as bond yield rises

Due to the strong rates in the fixed-income market, investors in the equities market lost around N1.55 trillion in February. The PUNCH recorded that, In the short- to medium-term, it is anticipated that investors would become less interested in the capital market as they pursue higher returns due to the increase in the monetary policy […]

UBA vows to draw capital to ECOWAS mining industry
Banking

UBA vows to draw capital to ECOWAS mining industry

The Economic Community of West African States and United Bank for Africa Plc have committed to collaborating on projects that would bring in capital and foster sustainable growth for the mining and oil industries in the subregion. According to The PUNCH, the promise was made at the recently finished fourth ECOWAS Mining and Petroleum Forum, […]

NNPCL secures $2bn oil-for-cash loan from Afreximbank, UBA
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NNPCL secures $2bn oil-for-cash loan from Afreximbank, UBA

The African Export-Import Bank as well as the United Bank for Africa have disbursed $2.25 billion from a $3.3 billion oil-for-cash loan facility created by the Nigerian National Petroleum Company Limited. The first payment of $2.25 billion has been disbursed, with a second tranche of $1.05 billion scheduled to follow. The $3.3 billion emergency loan […]

AfCFTA, UBA sign $6bn MoU to support SMEs
Business

AfCFTA, UBA sign $6bn MoU to support SMEs

The African Continental Free Trade Area secretariat and United Bank for Africa, one of Nigeria’s Tier One lenders, have signed a $6 billion memorandum of understanding to finance small and medium-sized businesses so they may take advantage of the opportunities provided by the AfCFTA. The Punch reported that this was said at the Nigerian Canadian […]

UBA wins Bank-of-the-Year award in Nigeria, seven other countries
Business

UBA records N115% growth in Q3 2023

United Bank for Africa Plc has again announced a splendid performance in its unaudited financial results for the third quarter ended September 30, 2023, recording impressive growth across all key performance metrics. According to The Times, the bank’s gross earnings increased by 115.2 percent to N1.309 trillion from N608 billion in the previous year, mirroring the impressive performance […]

UBA, African Guarantee Fund partner on $100m SME loan
Banking

UBA begins anti-fraud campaign

        By Wilson Adekumola United Bank for Africa Plc is set to begin a Fraud Awareness Week – an initiative aimed at empowering customers with knowledge and tools to protect themselves against fraud and financial malpractices on Monday. The week-long event, which has as its theme, ‘Fighting Fraud Together’, will begin Monday […]

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