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the Pan-African Payment and Settlement System (PAPSS), an AfCFTA agenda and brainchild of Afrexibank which is currently operating in six pilot countries in West Africa – Nigeria, Ghana, Sierra Leone, Guinea Liberia and Gambia.”
“UBA remains on the trajectory of achieving and even surpassing its targets for the 2023 financial year. We continue to maintain a close focus on cost efficiency and strictly control operating expenses across the group, including our new strategic investments. We are committed to delivering improved performances in the years ahead.”
“At the end of the 2022 financial year, UBA delivered gross earnings of N853 billion, up 29.2 per cent on the prior year, and an operating income of N591 billion, representing an increase of 33.6 per cent from N443 billion in 2021.”
“Profit Before Tax increased by 31.2per cent to N201 billion from N153 billion recorded in 2021 while Profit After Tax rose by 43.5 per cent to close the year at N170 billion from N119 billion in 2021. In line with the bank’s overall objective of stimulating growth in the real sector, the bank grew its loan portfolio by N605 billion, or 21.4per cent, from the prior year.”
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