United Bank for Africa (UBA) Plc has assured its shareholders and investors of excellent performance in the 2022 financial year, as the bank continues to deepen its foothold to reap the benefits of its investments in strong and innovative digital product offerings and expanded scope over the past few years. Considering the significant investment, the bank has made over the years across the globe – this is about $105 million in 20 African countries, United Kingdom, France and the United Arab Emirates, and the fact that UBA is the only Sub-Saharan bank with a deposit-taking license in the United States of America.
Breaking down the full year 2021 financial results to the investors, Uzoka pointed out that gross earnings rose significantly to N660.2 billion representing an increase of seven percent compared to N616.8 billion recorded at the end of the 2020 financial year, whilst total assets grew by 11 percent to an unprecedented N8.5 trillion in the year under review, up from N7.7 trillion in 2020, marking the first time the Bank’s assets will cross the N8 trillion mark. UBA’s Profit Before Tax was impressive with a 20.3 percent growth to N153.1 billion, compared to N127.3 billion at the end of the 2020 financial year as Profit After Tax rose by 8.7 percent to N118.7 billion in 2021, compared to N109.2 billion recorded the previous year. As a result, the Bank proposed a total dividend of N1.00, comprising an interim dividend of 20 kobo, already paid, and a final dividend of 80 kobo, to be presented to shareholders for approval at the 60th Annual General Meeting scheduled for April 7, 2022. United Bank for Africa Plc is Africa’s global bank with a presence in the United States of America, the United Kingdom and France and more recently the United Arab Emirates. UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross-border payments and remittances, trade finance, and ancillary banking services.