Union Bank recorded N121.4bn earn­ings in 2013

Daily Trust - - BUSINESS - From Kay­ode Ogun­wale, La­gos

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.

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