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Headline : Nigeria : UBA’s first quarter profits rise by 154% on the back of higher interest income

Read more from the original article on here at www.african-markets.com.




Tags : #nigeria #ubas #first #quarter #profits #rise #15425 #back #higher #interest #income


No. of Paragraph 21

UBA released its unaudited financial results for Q1 2024 showing pre-tax profit grew by 154.74% year-on-year to 156.344 billion. 

This outcome reflects the mixed nature of strengths and limitations stemming from macroeconomic challenges of heightened inflation, elevated interest rates, and foreign exchange volatility. 

A further analysis of the results reveals that the Q1 impressive performance can be attributed to a combination of robust growth in interest income, primarily propelled by lending activities and investments in securities, particularly bonds. 

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Read more from the original article on here at www.african-markets.com.


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