UBA group indicates strong start in first quarter profit growth

BY NDUMBE BELL GASTON IN DOUALA The United Bank for Africa PLC has released its first quarterly figures showing gross earnings in financial results of N101.2 billion and profit before tax of N25.5 billion (in Nairas). This according to the Earnings Press release, is a profit growth of 41% in the first quarter of this year. The Group, says their report, is said to have sustained strong profitability, recording an annualized 19.4% return on average equity. According to their income statement, gross earnings this quarter vis that of N73.7 billion at same period in 2016 showed a climb of 37.5%.…