By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Africa’s global lender, United Bank for Africa Plc (UBA) said on Tuesday its first quarter (Q1) 2015 pretax profit for the period ended March 31, soared 36 percent to N18.389 billion from N13.544 billion recorded the same period of 2014.

In the same vein, profit after tax (PAT) grew 35 percent to N16.956 billion from N12.587 billion in 2014 Q1.

Gross earnings also increased 22.1 percent to N83.098 billion from N68.079 billion recorded in the corresponding period of 2014, the lender said in a filing with the Nigerian Stock Exchange (NSE).

At the close of business on Tuesday at the Nigerian bourse share price of the bank declined 3.27 percent to N4.74 from N4.90; losing 0.16 kobo.