12th September, 2023
UBA Plc has recorded the highest jump in profitablity in the first half of 2023, in comparison with its peers.
In the audited report made available to the Nigerian Exchange today, the bank posted a gross earnings of N821 billion, a big jump from the N491 billion recorded at the same period in 2022.
Profit before tax rose from N85.7 billion to N403 billion, while profit after tax also quintupled from N70.3 billion in the first half to N378.2 billion.
The bank’s ballooned fortune also showed in the earning per share, which rose for the period under review from N1.98 to N10.95.
The bank has decided to pay an interim dividend of 50 kobo per share to shareholders.
The money will be paid electronically on 6 October, to shareholders in the register by 26 September.
Of all the banks which have made their performance public so far, UBA has shown the highest PAT.
While Zenith reported N291 billion for the six months, a rise from N111.4 billion last year, Guaranty Bank Holdings posted N280 billion, also a big jump from the N77 billion declared same time last year.
Stanbic-IBTC which has also declared its results for H1, declared N67 billion PAT, bigger than the N30 billion made last year.
Stanbic’s performance is slightly better than Fidelity Bank which reported N61 billion as PAT.
All the banks are paying interim dividends to shareholders.
Zenith, UBA, GTB are all paying 50 kobo per share, while Stanbic is paying N1.50 per share.
Fidelity on its part is sharing 25 kobo each to stockholders, the lowest interim dividend announced by the banks so far.