reports
UBA PLC Company Update - EPS accretion as bank cancels shares
EPS accretion as bank cancels sharesUBA crosses shares following shareholders’ approvalPrior to the UBA and Standard Trust Bank (STB) merger in 2005, we gathered that STB had a Staff Share Investment Trust Fund. The scheme was established to give employees the right to buy shares of the company. The trust deed was then renewed post-merger to cover the staff of the combined entities. We understand that the new entity - UBA, acquired its shares and transferred same to the Staff Share Investment ...
UBA PLC - Strong Q1 performance, despite tough operating environment
​Having reported a relatively weaker performance in Q4’15, UBA started 2016 on a very strong note - beating our estimates across all the key line items as top and bottom line came in 5% and 53% ahead of our estimates respectively. Although Gross Earnings was down 11% y/y to N74 billion, the top line figure was 10% stronger when compared to Q4’15. Whilst Non-Interest Income came in 2% behind our estimate, a better than expected Interest Income (N54.9 billionvs. our N53.7 billion estimate) e...
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