United Bank for Africa, a leading financial institution in Nigeria released its first quarter result for the period ended March 31, 2019 on Tuesday. The financial giant grew its profit after tax (PAT) by 20.77% to close at N28, 665 billion from the previous PAT of 23,736 billion in the first quarter of 2018.
Interest Income for the period under review stands at 98.56 billion which is 9.11% growth compared to the previous Interest Income of N90.33 billion in Q1’18. Interest expense was up by 10.08% bringing Net interest income to close at N58.075 billion.
Profit before tax (PBT) increased by 13.56% to close at N30.16 billion compared to the previous PBT of N26.56 billion.
The earnings per share (EPS) for the period under review is 84 kobo, compared to the previous EPS of 69 kobo in Q1’18.
With reference to the share price of N6.85, the PE ratio of UBA in Q1’19 stands at 8.15x with earnings yield of 12.26%