UBA Nigeria Plc, one of Nigeria’s oldest and largest banks, reported its audited accounts for 2023, revealing gross earnings of N2 trillion, a significant increase from N835 billion just a year earlier.
This achievement marks the bank’s highest gross earnings on record and ranks as one of the highest in the banking sector for 2023.
Following this remarkable top-line performance, the bank announced a profit after tax of N607.696 billion in 2023, which represents a 257% surge from N170.277 billion in 2022.
This performance not only sets a record for the bank but also ranks among the top two best results observed so far.
UBA’s blistering full year performance is largely driven by its an impressive growth in its Interest Income which surged a whopping 93% to over one trillion naira.
On other income earned the bank’s earnings from commissions and fees is largely driven by electronic banking income, trade transaction income, credit related fees and commissions on transaction services.