Union Bank of Nigeria Says 2016 H1 Pretax Profit up 35%

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union bank logoUnion Bank of Nigeria Plc (UBN) on Wednesday said its 2016 pretax profit for the first-half (HI) period ended June 30, 2016 climbed up 35 percent to N8.92 billion from N6.61 billion declared a year ago.

Similarly, profit after tax (PAT) grew 35.7 percent to N8.76 billion from N6.45 billion recorded the same period of 2015.

Also, gross earnings of the bank increased from N55.38 billion in 2015 H1to N60.1 billion in the review period of 2016; indicating an increase of 8.4 percent, Union Bank of Nigeria said in a filing with the Nigerian Stock Exchange (NSE).

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Shares of the bank at the close of the session on the Nigerian bourse declined 2.22 percent to N4.40 from N4.50 posted the previous session; losing 0.10 kobo per share.

Click here to download Union Bank of Nigeria Plc Half-Year Interim Report June 30, 2016