March 27, 2017/InvestmentOne Research

UBA released its Q4 2016 results late on Friday.

Find below key highlights of the Q4 2016 results:

·         Net interest income of N53.1bn, up +10.8% q/q; up +48.3% y/y

·         Profit before tax of N29.1bn, up +36.7% q/q; up +162% y/y

·         Profit after tax of N20.0bn, up +1.8% q/q; +80.2% y/y

The bank proposed a final dividend 55kobo per share representing a dividend yield of c.10% based on Friday’s close price.