UBA In Trouble As Profit Falls By 21%

 

United Bank for Africa (UBA) is in trouble-and there is no better indicator than its financial figures that had just been made public which indicate that the bank is bleeding.

According to UBA, though Gross Earnings rose from N62.9b  last year to N68.1b this year, its Profit Before Tax has fallen drastically from N17.1b to N13.5b a shortfall of 21.1 per cent.

According to Reuters,UBA’s Profit After Tax fell from N15.5b to N12. 5b a loss of 19.1 per cent. And for the shareholders, they will be in deep trouble as their shares are now 18.3 per cent weaker.