United Bank for Africa (UBA) Plc, has released its audited results for the full fiscal year ended December 31, 2021. The African bank posted a profit of 153 billion naira ($373.8 million) and recorded growth of 11 % of its balance sheet.

UBA recorded impressive performance in terms of key financial measures. The 2021 financial result filed by the bank on the Nigerian Stock Exchange (NSE) on March 4, 2022, showed gross profit increased significantly to N660.2 billion ($1.6 billion), a 7% increase from 616.8 billion naira ($1.5 billion) recorded at the end of FY2020.

Total assets increased by 11% to a record 8.5 trillion naira ($20.1 billion) in the reporting year, from 7.7 trillion naira ($18.1 billion). dollars) in 2020. Profit before tax grew by 20.3% to N153.1 billion ($373.8 million); while profit after tax increased by 8.7% to 118.7 billion naira ($289.9 million) in 2021.