Union Bank recorded N121.4bn earnings in 2013

Union Bank Plc has reported a profit of N121.399 billion in its 2013 audited financial result.

According to the group consolidated statements of comprehensive income for the period ended 31 December 2013 released to the Nigerian Stock Exchange (NSE), yesterday, in Lagos, the bank increased its gross earnings by N4.187 billion, translating into 3.57 per cent from N117.212 billion to stand at N121.399 at the end of 2013 financial year.

The profit before income tax from continuing operations rose by N799 million to end 2013 financial year with N5.141 billion from N4.342 billion.

Its profit for the year from continuing operations rose by N2.123 billion or 53.73 per cent to end 2013 financial year with N6.074 billion from N3.951 billion.