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Home Business Banking & Finance

UBA Ghana adds GHS 1.4bn to assets value; records GHS 141m in profit

3 years ago
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UBA Ghana adds GHS 1.4bn to assets value; records GHS 141m in profit

UBA Ghana, subsidiary of pan-African bank United Bank for Africa Plc, grew its total assets value by GHS 1.4bn in 2021.

The bank’s total assets value at end-December 31, 2021 amounted to GHS 5.37bn from the previous year’s total assets value of GHS 3.95bn.

Driving the increment in the bank’s assets value were its investment securities, other assets and deferred tax asset.

Investment securities value of the bank within the review period grew from GHS 1.24bn in 2020 to GHS 2.71bn in 2021; value of ‘Other assets’ also grew from GHS 85m to GHS 431m in the review period; and deferred tax asset also increased from GHS 3.04m to GHS 13.45m in the review period.

Total liabilities of the bank for the year under review stood at GHS 4.24bn, an increase of GHS 1.28bn from the GHS 2.95bn posted at end-December 2020.

Regarding profit made for the year, UBA Ghana per its 2021 Financial Statement, posted a profit-after-tax of GHS 141.7m, a reduction of some GHS 20m when compared to the GHS 162.2m profit-after-tax recorded in the corresponding period of 2020.

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Based on the profit-after-tax made for the 2021 fiscal year, earnings per share for shareholders of the bank will amount to 0.02 pesewas.

Loan asset quality of UBA Ghana witnessed significant improvement as the bank was able to reduce its non-performing loans (NPL) by 14.9 percentage points.

With a NPL ratio of 44.3% at end 2020, UBA Ghana ended 2021 with a NPL ratio of 29.4%.

The bank’s Capital Adequacy Ratio (CAR) witnessed a marginal reduction ending 2021 with CAR of 22.8% from the previous year’s CAR of 24.4%.

Despite the marginal decline, UBA Ghana’s 22.8% CAR is well above the Bank of Ghana’s 11.5% minimum CAR regulatory requirement.

Read details of Financial Statement below:

UBA_FS-31Dec2021 by Fuaad Dodoo on Scribd

Source: norvanreports
Tags: ghanapan-African bank United Bank for Africa PlcUBA GhanaUBA Ghana adds GHS 1.4bn to assets value; records GHS 141m in profit
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