United Bank for Africa (UBA) reported a 16.9 per cent jump in net profit to N525.3 billion in the first nine months of the year, according to its latest earnings report issued on Monday.
The chunk of revenue was provided by interest income, which accelerated by 170 per cent to N1.8 trillion on the back of a series of interest rate increases by the Central Bank of Nigeria (CBN), aimed at curtailing sticky inflation in Nigeria.
The CBN’s monetary policy committee has raised the…
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