Amidst the economic uncertainties and volatilities in the operating environment in the first half of
2023, the United Bank for Africa (UBA) posted a solid financial performance. Specifically, UBA’s
gross earnings more than doubled (+163.88% YoY) to NGN981.76bn during the period, owing to
the 66.42% YoY and 382.61% YoY growth in funded and non-funded income, respectively. For the
first time on record, non-interest income’s contribution to gross earnings (56%) outweighed interest income in H1:2023.
