Union Bank, one of Nigeria’s longest standing financial institutions, announces its audited financial statements for the year ended 31st December 2019 which reflect strong growth in the Bank’s underlying business operations and enhanced profitability.
The financial institution reported a Gross Earnings of N166.55 billion, up by 14.45% when compared to the previous gross earnings of N145.52 billion reported in 2018.
Profit before tax grew by 37.47% to settle at N24.84 billion from N18.07 billion reported in 2018.
The Bank reported a profit after tax of N19.88 billion, up by 9.85% when compared to the profit after tax of N18.09 billion reported in 2018.
The earnings per share of the firm stands at N0.68, up by 9.85% when compared to the earnings per share of N0.62 in 2018.
With reference to the share price of N6.85, the PE ratio of Union Bank stands at 10.07x with earnings yield of 9.93%.