By InvestAdvocate

Lagos (INVESTADVOCATE)-Africa’s top tier lender, United Bank for Africa Plc (UBA) said on Friday its gross earnings for the third quarter (Q3) 2014 climbed up 12.1 percent to N210.7 billion from N188 billion in the corresponding period of 2013, the lender said in a filing with the Nigerian Stock Exchange (NSE).

However, profit before tax (PBT) declined slightly 2.0 percent to N42.543 billion in the Q3 of 2014 from N43.428 billion in the same period of 2013.

Similarly, profit after tax (PBT) of UBA declined from N37.371 billion in the Q3 of 2013 to N33.628 billion in the review period of 2014; indicating a decline of 10 percent.

Also, basic earnings per share dipped 9.5 percent to N1.43 from N1.58 recorded in the Q3 of 2013.