6/9/2016/Punch Stanley Opara The Group Managing Director/ CEO, United Bank for Africa, Mr. Kennedy Uzoka, has said the banks African subsidiaries contributed 25 per cent of the group’s profit and account for over a quarter of its overall total deposit base, which is largely made up of low-cost savings and […]
Results & Dividends
Nigerian Breweries Q2’2016 Result: Spike in interest expense on FX devaluation weighed on Earnings
August 30, 2016/InvestmentOne Research Maintaining sell rating on Nigerian Breweries Plc NB’s Q2 2016 results showed moderation in sales and a spike in net finance cost which weighed on bottom-line performance. Relative to our estimate, sales was down by over -4% y/y while PBT declined by -29% y/y, due largely […]
UBA Records N58bn Other Comprehensive Income Line; Shares Outperform Market by 36%
August 26, 2016/UBA Plc Event: United Bank for Africa (UBA) reports Q2 2016 results Implications: Market reaction likely to be positive Positives: Strong non-interest income growth; significant (N58bn) positive result on the other comprehensive income line Negatives: Net interest income down -12% y/y Late yesterday, United Bank for Africa (UBA) […]
