United Bank for Africa (UBA) has recorded a 19.9% growth in its net interest income to N177.46 billion while fees and commission income improved by 30.9% to N59.92 billion in the same period.
Town Crier News Nigeria reports that UBA recorded a post-tax profit of N70.33 billion in the first half of the year, a 16.1% increase compared to N60.58 billion posted in the corresponding period of 2021. UBA accounted for 14% of the total profit aggregate by the thirteen banks.
Meanwhile, personnel expenses surged by 22.7% to N52.29 billion, while other operating expenses increased by 22.6% to N96.57 billion.
Tax expenses on the other hand declined marginally by 1.2% to N15.42 billion in the first six months of the year.