United Bank of Africa (UBA) Ghana, for the year 2020, reduced its total liabilities by a little over Ghs 709 million.
UBA Ghana for the year ended 2020, recorded total liabilities worth Ghs 2.9 billion from a previous figure of Ghs 3.6 billion.
A perusal of the banks’ 2020 Audited Financial Statement by norvanreports, revealed that the reduction in the bank’s total liabilities was on the account of significant reduction in deposits from other banks.
Per the financial statement, deposits from other banks dropped from Ghs 1.2 billion in 2019 to Ghs 72 million in 2020.
The reduction in the bank’s liabilities was however, not complimented by an increase in its assets value as UBA Ghana’s total assets value declined by some Ghs 547 million.
Total assets value for end-2019 and end-2020 were Ghs 4.4 billion and Ghs 3.9 billion respectively.
The bank also saw a decline in its profit for the year under review as its profit for end-2020 amounted to Ghs 162 million from a previous profit of Ghs 188 million. A reduction of some Ghs 26 million.
In terms of Capital Adequacy Ratio (CAR), UBA Ghana increased its CAR from 22.3 percent in 2019 to 24.4 percent in 2020.
The bank also reduced its Non-Performing Loans as a ratio to gross loans from 55 percent in 2019 to 44.3 percent in 2020.
Dividends paid per share for the year ended 2020 was Ghs 0.02 pesewas, a decline of Ghs 0.01 pesewas from the Ghs 0.03 pesewas paid in 2019.
