United Bank for Africa Plc (NGX: UBA)

United Bank for Africa Income Statement

Financials in millions NGN. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	2,167,335	1,073,246	556,737	473,909	422,655	390,304
Interest Income on Investments	40,615	2,101	415	353	5,207	14,526
Total Interest Income	2,207,950	1,075,347	557,152	474,262	427,862	404,830
Interest Paid on Deposits	840,169	367,807	177,663	157,551	168,395	182,955
Net Interest Income	1,367,781	707,540	379,489	316,711	259,467	221,875
Net Interest Income Growth (YoY)	153.27%	86.45%	19.82%	22.06%	16.94%	7.89%
Gain (Loss) on Sale of Assets	113	121	21	1,992	-168	251
Gain (Loss) on Sale of Investments	-63,152	-63,152	-22,297	-3,012	-4,566	-1,916
Other Non-Interest Income	714,451	848,860	213,114	124,291	143,575	124,167
Total Non-Interest Income	651,412	785,829	190,838	123,271	138,841	122,502
Non-Interest Income Growth (YoY)	2.83%	311.78%	54.81%	-11.21%	13.34%	19.43%
Revenues Before Loan Losses	2,019,193	1,493,369	570,327	439,982	398,308	344,377
Provision for Loan Losses	122,911	144,049	19,671	9,851	22,443	16,336
Revenue	1,896,282	1,349,320	550,656	430,131	375,865	328,041
Revenue Growth (YoY)	85.39%	145.04%	28.02%	14.44%	14.58%	8.02%
Salaries and Employee Benefits	297,123	182,812	113,988	93,244	87,545	75,099
Occupancy Expenses	47,808	36,596	26,218	22,700	20,005	15,490
Selling, General & Administrative	46,495	18,859	11,022	8,747	8,509	7,433
Other Non-Interest Expense	641,502	353,373	198,863	154,295	133,620	119,145
Total Non-Interest Expense	1,032,928	591,640	349,780	277,058	248,608	216,754
EBT Excluding Unusual Items	863,354	757,680	200,876	153,073	127,257	111,287
Other Unusual Items	-4,282	-	-	-	-	-
Pretax Income	859,072	757,680	200,876	153,073	127,257	111,287
Income Tax Expense	175,359	149,984	30,599	34,395	18,095	22,198
Earnings From Continuing Operations	683,713	607,696	170,277	118,678	109,162	89,089
Minority Interest in Earnings	-22,081	-9,411	-4,826	-2,795	-3,253	-2,869
Net Income	661,632	598,285	165,451	115,883	105,909	86,220
Net Income to Common	661,632	598,285	165,451	115,883	105,909	86,220
Net Income Growth	33.51%	261.61%	42.77%	9.42%	22.84%	14.41%
Basic Shares Outstanding	34,199	34,199	34,199	34,199	34,199	34,199
Diluted Shares Outstanding	34,199	34,199	34,199	34,199	34,199	34,199
EPS (Basic)	19.35	17.49	4.84	3.39	3.10	2.52
EPS (Diluted)	19.35	17.49	4.84	3.39	3.10	2.52
EPS Growth	33.51%	261.61%	42.77%	9.42%	22.84%	14.41%
Dividend Per Share	4.300	2.800	1.100	1.000	0.520	1.000
Dividend Growth	207.14%	154.55%	10.00%	92.31%	-48.00%	17.65%
Effective Tax Rate	20.41%	19.80%	15.23%	22.47%	14.22%	19.95%

Source: S&P Capital IQ. Banks template. Financial Sources.