Alabingo Finance Report || The United Bank for Africa (UBA) took advantage income from foreign exchange trading and term loans to corporate organizations to post a double digit profit-after-tax (PAT) in third quarter of 2017, despite operating expenses rises during this period.



The pan-African bank gross revenue grew 25.75 per to N333.91 billion in Q3 2017 from N265.51 billion in the comparable period last year, driven largely by term loans to corporate organization which was up 48.71 per cent year-on-year to N113.20 billion and fixed income securities trading which leaped 81.58 per cent to N28.95 billion against N15.94 in Q3 2016.

And the 30.11 per cent rise in interest income to N238.09 billion and 29.27 per cent increase during this period and 79.38 per cent surge in other operating income to N3.45 billion on the back of 119.96 per cent upswing in dividend income saw post-tax post improved 23.04 per cent to N60.92 billion (Q3 2017: N49.51 billion)...

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