Earnings Report /
Nigeria

UBA: Q2 results boosted by Rest of Africa subsidiaries

  • Q2 21 profits were up 57% yoy, thanks to increased interest income and better operating efficiency

  • Rest of Africa operations continue to shore up profitability, with decreasing contributions from the Nigerian entity

  • We reiterate our Buy on UBA, given the benefits of the group's regional diversification and its discounted valuation

Busola Jeje
Busola Jeje

Research Analyst

Tellimer Research
24 September 2021
Published by