Union Bank records 12% profit before tax for the first quarter of 2021

NIGERIA – Union Bank, a commercial bank, has announced that its profit before tax rose by 12 per cent to N6.9 billion (US$18.13m) as of the end of the first quarter of 2021 from N6.2 billion (US$16.29m) in the corresponding period of 2020 driven by higher non-interest income and lower operating expenses. According to a statement by the company, its gross earnings…

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Nigeria’s Union Bank secures a US$40m finance guarantee facility from IFC to boost trade finance

NIGERIA – Union Bank, one of Nigeria’s leading commercial banks, has secured a US$40 million finance guarantee facility from IFC- a member of the World Bank Group-to boost access to finance for local business. As a result of the transaction, Union Bank also gained access to IFC’s Global Trade Finance Program – a platform that promotes international trade by leveraging…

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Nigeria’s Union Bank appoints Emeka Ogbechie and Paul Kokoricha as non-executive directors

NIGERIA – Union Bank of Nigeria Plc, one of the leading commercial banks in Nigeria, has announced the appointment Mr Emeka Anthony Ogbechie and Mr Paul Kokoricha as Non-Executive Directors. Their appointment comes at a time when the Covid-19 pandemic is taking its toll on the Bank’s operations, significantly affecting its revenues. In the first half of the year, Union…

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Nigeria’s Union Bank posts 10% rise in half year revenues despite of COVID-19 crisis

NIGERIA – Union Bank Plc, one of Nigeria’s leading commercial banks, has reported a 10% rise in gross earning for the half-year ended June 30, 2020 despite operating in a tough economic environment characterized by the COVID-19 economic and health crisis. Union bank’s gross earnings rose to N79.9bn (US$ 206.05 million) from N72.4bn (US$ 186.71 million) in H1 2019, driven…

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