By InvestAdvocate

Lagos (INVESTADVOCATE)-Nigeria’s rescued lender, Union Bank of Nigeria Plc said on Friday its pretax profit for the period ended December 31, 2015 declined 47.5 percent to N14.55 Billion from N27.71 billion recorded a year ago.

Similarly, profit after tax (PAT) of the Bank dropped 50 percent to N13.98 billion from N26.82 billion declared the corresponding period of 2014.

In the same vein, gross earnings of the rescued lender depreciated from N135.89 billion in 2014 end to N117.21 billion in 2015 review period; representing a decrease in gross earnings of 13.33 percent, Union Bank of Nigeria said in a filing with the Nigerian Stock Exchange (NSE).

Click here to download Union Bank of Nigeria Plc Annual Report December 31, 2015