 has released its half-year financial results for the period ending June 2024){kind=link}
United Bank for Africa (UBA) has released its half-year financial results for the period ending June 2024, highlighting key developments in profitability, asset growth, and credit risk management.
The bank reported a profit of N316.4 million for the first half of 2024, a decrease compared to N378.2 million in the same period last year. Despite this drop in profitability, the bank made strides in reducing its impairment charges for credit losses.
The impairment charge on loans was N58.6 billion, a marked improvement from N143.9 billion in the corresponding period of 2023, reflecting stronger loan performance and credit risk management.
In terms of balance sheet growth, UBA’s total assets surged to N28.3 trillion, up from N20.7 trillion in June 2023.
Liabilities also rose to N25.4 trillion from N18.6 trillion during the same period.
To reward shareholders, UBA has declared an interim dividend of N2 per share.
Shareholders whose names appear on the Register of Members as of the close of business on Monday, October 14, 2024, and who have completed their e-dividend registration, will receive the dividend electronically on Tuesday, October 22, 2024.
The hunt for dividends pushed UBA’s share price to N28 on Monday, marking its highest level in six months.
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