A review of the unaudited half year result (H1’2021) released to the Nigerian Stock Exchange, the agric-focused lender showed notable improvement across key financial matrices.
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The company’s Managing Director/Chief Executive Officer, Dupe Olusola, said this at the virtual “Facts behind the Figures” organised by the Nigerian Exchange on Wednesday in Lagos.
The pan-African bank recorded a Profit Before Tax of N40.3 billion, representing 22 per cent increase over the N33 billion reported at the same time in 2020.
A review of the result shows a resilient performance across all key financial metrics in the face of the unprecedented macroeconomic challenges, reflecting the quality of past decisions and reaffirming its position as one of the best managed financial institutions in Africa. The Group reported Profit before tax of ₦53.7billion, representing a drop of 7.8% over ₦58.2billion recorded in the corresponding period of March 2020. Deposit Liabilities increased by 3.0% from ₦3.611trillion in December 2020 to ₦3.717trillion in March 2021, whilst the Group’s Loan book (Net) dipped by 1.4% from ₦1.663trillion recorded as at December 2020 to ₦1.639trillion in March 2021.
Olumide Orojimi, NSE Head of Corporate Communications, said in a statement on Tuesday in Lagos that a closing gong ceremony was held on April 1 to honour Onyema.
The company disclosed this in its 2020 audited result released by the Nigerian Stock Exchange on Thursday.
According to the cement group’s audited results released on the floor of the Nigerian Stock Exchange, the tax charge represents an increase of 95 per cent over the sum of N50 billion recorded in 2019.
The bank said this in its audited financial statements for the year ended December 31, 2020 released by the Nigerian Stock Exchange.
Specifically, the market capitalisation, which opened at N21.494 trillion, rose by N259 billion to close at N21.753 trillion.
The Chief Executive Officer of NSE, Oscar Onyema, said this at the 2020 market recap/2021 outlook on Tuesday in Lagos.
Otunba Abimbola Ogunbanjo, NSE President, said this in a statement on Friday in Lagos.
Specifically, the market capitalisation, which opened at N21.224 trillion, shed N246 billion to close at N20.978 trillion.
The company disclosed this in a notice titled, ‘Notification of Capacity Expansion’, posted on the NSE’s website and signed by Ahmed Aliyu, BUA Cement Company Secretary.
Specifically, the market capitalisation which opened at N18.940 trillion rose by N296 billion or 1.56 per cent to close at N19.236 trillion.
Oscar Onyema, Chief Executive Officer, NSE, during the ceremony on Friday in Lagos, described the novelist as a testament that Nigeria is blessed with talented people.
This was in contrast with 257.56 million shares valued N3.53 billion transacted in 5,407 deals on Thursday.
According to the report filed with the Nigerian Stock Exchange on Friday, UBA reported a Profit Before Tax of N90.4 billion compared to N98.2 billion recorded at the end of the third quarter of 2019.
The Third Quarter result showed improved performance across key financial metrics, reaffirming the Bank’s capability to navigate the current economic challenges occasioned by the impact of COVID 19 on world economies.
This was in contrast with 430.12 million shares valued at N6.62 billion achieved in 4,319 deals on Thursday.
This was announced in a filing to the Nigerian Stock Exchange on Tuesday.