Leveraging its expansive footprint, pan-African banking group, United Bank for Africa Plc (“UBA” or “the Bank”), announced its unaudited Third Quarter Financial Results, showing a 7% year-on-year growth in profit before tax to N62 billion despite the challenging macro-economic environment. This represents an impressive 18.2% annualized return on average equity. The Bank recorded an appreciable…
Guaranty Trust Bank plc has released its unaudited financial results for the first quarter ended March 31, 2016 to the Nigerian and London Stock Exchanges. A review of the 1Q 2016 result shows that the Bank continued to consolidate on its position as one of the most profitable and well managed financial institutions in Nigeria,…
Despite the regulatory headwinds and downturn in the Nigerian economy, Sterling Bank Plc recorded growth in virtually all its performance indicators for the year ended December 31, 2015, pushing up profit before tax by 2.5 per cent to N11.0 billion. Similarly, profit after tax rose by some 14.3 per cent to N10.3 billion due to…
Nigeria’s top tier lender, Zenith Bank Plc said on Tuesday its pre-tax profit for the period ended December 31, 2015 rose 4.85 percent to N125.62 billion from N119.79 billion recorded a year ago. Similarly, profit after tax (PAT) increased 6.24 percent to N105.66 percent to N99.45 billion posted the same period of 2014. Gross earnings…
t One of the leading banks in Africa, Guaranty Trust Bank, GTBank, has released its audited financial results for the half year ended June 30, 2015 to the Nigerian and London Stock Exchanges. The audited report shows an encouraging growth across all key financial metrics and improved strategic positioning of the brand. According to the…
Managing Director of Guinness Nigeria Plc, Seni Adetu, has been asked to step down from his exalted office at the end of October 2014. He will formalise his exit at the next Board meeting of the company in November, Punch reports. Adetu is leaving as MD of Guinness Nigeria following decline in the profit of…