UBA Ghana posts Ghs 4.9 billion total assets value in Q3 2021
United Bank of Africa (UBA) Ghana, for the period ended Q3 2021, posted an amount of Ghs 4.95 billion as the value of its total assets.
The recorded total assets value when compared to the Ghs 3.71 billion recorded same period last year – Q3 2020 – marks a surge of some Ghs 1.23 billion.
Accounting for the increase was the bank’s investment securities which amounted to some Ghs 2.5 billion from the previous amount of Ghs 1.26 billion.
A perusal of UBA’s Q3 2021 Financial Statement by norvanreports revealed appreciable increments in the bank’s cash and bank balances and other assets which added to the overall total assets value.
UBA’s cash and bank balances and other assets ended Q3 2021 with a value of Ghs 870 million from Ghs 768 million and Ghs 239 million from Ghs 65 million respectively.
Recorded liabilities of UBA for the period under review stood at Ghs 3.86 billion.
Increments in deposits by customers coupled with a marginal increase in the bank’s other liabilities resulted in the Q3 2021 liabilities of Ghs 3.86 billion from the Q3 2020 amount of Ghs 2.74 billion.
Deposits from customers on a year-on-year basis rose from Ghs 2.57 billion in Q3 2020 to Ghs 3.66 billion in Q3 2021.
Other liabilities of the bank also rose from Ghs 88,321 to Ghs 106,819 in Q3 2020 and Q3 2021 respectively.
Loan asset quality of UBA Ghana in the review period was slightly strengthened as the bank’s non-performing loans decreased from 15.30 percent in Q3 2020 to 14.33 percent in Q3 2021 of gross loans made.
At 14.33 percent, the bank’s NPLs is below the banking industry’s average NPL rate of 17 percentage points.
Capital Adequacy Ratio (CAR) which measures the solvency of a bank and its ability to absorb bad debts was also slightly improved upon by the bank.
UBA posted a CAR of 23.38 percent at the end of Q3 2021 representing an increase of some 1.41 percentage points as against the 21.97 percent CAR recorded for Q3 2020.
Despite the recorded increments in the bank’s total assets value, CAR and reduction in its NPLs, UBA for the third quarter of 2021 witnessed a decline in its net profit.
UBA’s net profit declined by Ghs 43 million ending Q3 2021 with a net profit of Ghs 96 million from last year’s Ghs 139 million.
Primarily accounting for the reduction in the bank’s profit as per data contained in its Q3 2021 Financial Statement was the allowance for credit losses on financial assets.
Peruse Financial Statement below:
UBA Ghana 2021 Q3 Financial Statements by Fuaad Dodoo on Scribd
