Sunday, February 28African Business News
Shadow

Tag: emeka Emuwa

Bank hinges high revenue on productivity, efficiency

Bank hinges high revenue on productivity, efficiency

Finance
Union Bank Plc has linked improved performance recorded in the financial year ended December 31, 2019, to increased revenue productivity and efficiency achieved across all business segments.   Specifically, the bank’s financial performance for the 2019 financial year showed that profit before tax grew by 33 per cent to ₦24.7billion from ₦18.7billion posted in the corresponding period in 2018, while gross earnings grew by 14 per cent to N159.9billion from N140.1billion in 2018.   The bank’s customer deposits also increased by five per cent to ₦886.3billion compared to ₦844.4billion in 2018, reflecting the strength of the brand in a very competitive environment for deposits.     Reviewing its performance at the 2019 yearly general meeting (virtual), in Lag...