United Bank for Africa Plc (UBA) has demonstrated resilience and strong performance in the face of macroeconomic headwinds, announcing a significant 83.2% growth in gross earnings to N2.398 trillion for the nine months ended September 30, 2024. The bank’s profit after tax rose by 16.92% to N525.313 billion, a testament to its sustainable growth strategy and commitment to operational excellence.
The bank’s Managing Director/Chief Executive Officer, Oliver Alawuba, expressed pleasure at the group’s strong and sustainable growth in its various revenue streams, building on its strong performance earlier in the year. He attributed the growth to consistent strong growth on all core and sustainable banking income lines, as well as substantial investments in technology yielding tangible business value.
UBA’s Executive Director, Finance & Risk, Ugo Nwaghodoh, also commented on the performance, highlighting the bank’s operational efficiency and significant capacity for future growth. He noted that the group remains committed to sustainable growth in its core banking revenue lines and maintaining a strong compliance and risk management culture.
The bank’s performance is a testament to its ability to navigate macroeconomic challenges and deliver value to its stakeholders. With its strong financial position and commitment to operational excellence, UBA is well-positioned for continued growth and success.
