reports
United Bank For Africa: 1 director
A director at United Bank For Africa maiden bought 1,401,769 shares at 21.850NGN and the significance rating of the trade was 68/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the las...
Q1:2024 Earnings Update | UBA | Impressive Performance Riding on Core ...
Impressive Performance Riding on Core Banking Income United Bank for Africa Plc. recently released its unaudited Q1:2024 financial result. Gross earnings grew 110.25% YoY to NGN570.16bn following impressive interest and non-interest income growth. Interest Income soared 129.71% YoY to NGN440.76bn while Non-Interest Income grew by 63.17% YoY to NGN129.39bn. On the other side, Operating Expenses advanced 104.05% YoY to NGN218.97bn owing to employee expenses, energy, and maintenance cost. Profit B...
2023FY Banking Stock Note | ZENITH | UBA | GTCo | ACCESSCORP
Zenith Bank released the audited Full-year results for 2023, revealing a robust topline performance. Gross Earnings, which exceeded our 2023FY estimates, grew by 125.45% YoY to NGN2.13trn on the wheels of increased interest and non-interest income. For context, Interest Income climbed 111.91% YoY to NGN1.15trn while Non-Interest Income grew significantly by 143.49% YoY to NGN987.08bn. United Bank for Africa Plc. audited Full-year results for 2023 showed an impressive topline and bottom-line per...
- MarketLine Department
FCMB Group Plc - Strategy, SWOT and Corporate Finance Report
Summary FCMB Group Plc - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights FCMB Group Plc (FCMB) is a provider of banking, retirement, stockbroking, and capital market services through subsidiaries, catering to individuals, commercial customers, corporates, SMEs, high...
H1:2023 UBA Plc Earnings Result | Marked by Increased Fair Value Gain...
UBA’s H1:2023 financial results mirrored the earnings growth across its Tier-1 peers on the back of the FX liberalization policy implemented during the period. Gross earnings increased by 163.66% YoY to NGN981.78bn, largely supported by higher non-interest income (+381.30% YoY to NGN553.48bn). Interest Income remained elevated, growing by 66.57% YoY to NGN428.29bn. On the other side, Operating Expenses advanced 39.82% YoY to NGN226.37bn owing to rising personnel costs and AMCON levy. The group p...
EQS-News: United Bank for Africa (UBA) Foundation Walks the Talk on Su...
EQS-News: United Bank for Africa Plc (UBA) / Key word(s): Sustainability United Bank for Africa (UBA) Foundation Walks the Talk on Sustainability, Pioneers Commitment to Environment, Africa’s Green Revolution 24.07.2023 / 13:15 CET/CEST The issuer is solely responsible for the content of this announcement. United Bank for Africa (UBA) Foundation Walks the Talk on Sustainability, Pioneers Commitment to Environment, Africa’s Green Revolution Launches 2023 Tree Planting Campaign UBA Foundation, the corporate social responsibility arm of the United Bank for Africa (UBA) ...
United Bank for Africa (UBA) Q1:2023 Earnings Result | Interest Income...
United Bank for Africa Plc. recently released its unaudited Q1:2023 financial result. Gross earnings grew 47.12% YoY to NGN271.18bn on the back of interest and non-interest income growth, slightly exceeding our Q1:2023 estimates. Interest Income soared 53.41% YoY to NGN191.88bn while Non-Interest Income grew by 33.84% YoY to NGN79.30bn. On the other side, Operating Expenses advanced 38.21% YoY to NGN107.31bn owing to rising energy and staff costs. Profit Before Tax (PBT) and Profit After Tax (PA...
United Bank for Africa (UBA) 2022FY Earnings Result-Impressive Bottom-...
United Bank for Africa Plc. released the audited Full-year results for 2022, showing an impressive topline and bottom-line performance. Gross Earnings, which exceeded our 2022FY estimates, grew by 29.23% YoY to NGN853.74bn on the wheels of increased interest and non-interest income. Interest Income grew by 17.48% YoY to NGN557.15bn while Non-Interest Income soared 59.19% YoY to NGN296.02bn. On the other hand, Operating Expenses surged 25.59% YoY to NGN350.39bn owing to rising staff costs and con...
UBA 9M:2022 Financial Results-Coasting Through the Storm
The 9M:2022 financial results for United Bank for Africa (UBA) showed a strong topline and bottom-line performance. For context, Gross Earnings grew by 23.27% YoY to NGN608.29bn, which is on track to exceed our 2022FY forecast. The growth in Gross Earnings is buoyed by increases recorded in Interest Income (+22.26% YoY to NGN420.23bn) and Non-Interest Income (+25.59% YoY to NGN188.06bn) in the period. Although, Operating Expenses surged 27.48% YoY to NGN262.63bn, the bank was able to muster a do...
- Joshua Odebisi
- Vetiva Research
UNITED BANK FOR AFRICA PLC H1'22 Earnings Release - Earnings meet expe...
Earnings meet expectations amid NIR improvement UBA’s recently released H1’22 earnings were broadly in line with our expectations, with the bank posting an 18% y/y growth in Gross Earnings to ₦372 billion, 2% above our estimate of ₦365 billion. This came about due to a 16% y/y increase in Interest Income to ₦257 billion, as the bank recorded improvements across all the interest income lines. Interest Expense was only 7% higher y/y at ₦80 billion, in line with our estimate, as ...
- Joshua Odebisi
- Vetiva Research
UNITED BANK FOR AFRICA PLC Q1'22 Earnings Release - Profits up 18% y/y...
UBA recently released its Q1’22 earnings, posting an 18% y/y growth in Gross Earnings to ₦184 billion, in line with our estimate. This was driven by a 15% y/y rise in Interest Income to ₦125 billion, as the bank saw a 30% jump in interest income from investment securities. Meanwhile, Non-Interest Revenue (NIR) also supported earnings, rising 27% y/y to ₦41 billion, driven by a 43% surge in FX and trading income, specifically, income from Fixed Income securities trading, which grew 4.3x y/y...
UBA Plc FY 2021 - Loan Repricing Boosts Earnings as Trading Performanc...
Gross earnings and Profit Before Tax for UBA Plc posted respective YoY growth of 6.1% and 16.1% to ₦658.3bn and ₦153.1bn. This growth comes on the wheel of higher interest and fee & commission income as well as lower funding costs. In specific terms, interest income rose 10.8% YoY to ₦474.3bn driven by higher yield on the loan book. Management explained that repricing of loans complemented the 7.7% YoY growth in loans to drive the gains in income from loans. Yield on investment securities, how...
- Busola Jeje
UBA: FY 21 results underperform on taxes from other African subsidiari...
UBA Group’s after-tax profits for FY 21 grew 9% yoy to NGN116bn. We had expected the group to post a profit of NGN138bn (Bloomberg consensus estimate: NGN131bn). However, the major source of underperformance was higher taxes, which grew 90% yoy and doused the 20% (vs 22% expected) growth in pre-tax profits. By our calculations, the group’s effective tax rate for its “other African” subsidiaries grew from 22% to 31%, while Nigeria’s effective tax rate grew from 4.4% to 8.0% for FY 21. The eff...
- Busola Jeje
Nigeria Banks in 2022: Neither the best nor worst of times
In this report, we highlight four key trends that will shape Nigeria’s banking sector in 2022. We also roll our models forward to 2026 and make changes to our valuation inputs, by raising our cost of equity to better reflect higher interest rates compared to 2020 and the appropriate risk premium for Nigerian equities. Overall, we expect our coverage to deliver an average ROE of 14.5% in 2022, vs 14.8% previously. The marginal drop in our forecast is based on slower expected growth in margins,...
- Busola Jeje
Nigerian banks are pushing into fintech and digitalisation to survive
Nigeria's banks face three main headwinds in 2022: 1) continued regulatory hurdles; 2) declining profitability; and 3) the growing threat of fintechs and telcos. The banks that succeed will be those that can amend their strategy and adapt to the new environment. In this report, we highlight two banks – Stanbic IBTC and Standard Chartered – that have done just that, moving to embrace financial technology and digitalisation. STANBIC IBTC BUILDING ITS OWN FINTECH The diversified financial holdin...
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