UBA, Wema record profits

By Agency Reporter

Friday, 22 Oct 2010

United Bank for Africa Plc said on Thursday it recorded a N16.87bn ($110m) pre-tax profit in the nine months to September from a loss of N13.45bn last year.

Gross earnings fell to N136.36bn in the period from N146.41bn last year, the bank said in a filing with the Nigerian Stock Exchange, Reuters reported from Lagos.

In the same vein, Wema Bank said on Thursday it had swung to a pre-tax profit of N1.92bn ($12.60m) in the nine months to September from a loss of N29.43bn a year earlier.

Gross earnings of the bank declined to N24.08bn from 25.29bn during the same period a year ago, Wema said in a filing with the Nigerian Stock Exchange.

Source: Punch

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