At the end of June 30, 2022, the pan-African bank United Bank for Africa recorded growth in profit before tax (PBT) and profit after tax. Since the operating environment is challenging, this performance is considered very healthy and commendable.

The growth in pre-tax profit recorded by UBA in the first half of the year was 12.6% to N85.75 billion from N76.19 billion while the after-tax profit increased to N7.9 billion.profit after tax rose to N70.33 billion, an increase of 16.1% from the N60.58 billion reported in the first half of 2021.

The double-digit growth in PBT was largely driven by a 15.5% growth in interest income and a 30.1% growth in fee and commission income. Also, UBA recorded a 17.8% increase in gross revenue to N372.4 billion in the first half of 2022 from N316.04 billion in the first half of 2021, driven by double-digit growth in interest income and 30.1% growth in fees and commissions.double-digit growth in interest and non-interest income.