United Bank for Africa (UBA) has recorded a 34.8 per cent rise in its profit before tax for the nine months ended September 31, 2015 from N42.54 billion which it made I. The comparable period of 2014 to N57.36 billion.
The bank in its result made available to investors on the Nigerian Stock Exchange yesterday recorded a gross earnings of N247.20 billion a 17.3 per cent rise as against N210.71 billion which it recorded in 2014.
Profit for the year rose by 44.4 per cent to N48.55 billion from N33.62 billion. The bank was able to keep increase in its expenses low as personnel expenses was up by seven per cent yo N43.69 billon compared to N40.83 billion which was spent on staff in the nine months period of 2014.
Total operating expenses however rose by 11.9 per cent to N104.6 billion as against N93.46 billion figure of 2014. The amount spent on total operating costs for 2015 nine months period accounts for 42.3 per cent of the gross earnings made in the period, an improvement compared to 44.3 per cent of the gross earnings spent on operating expenses in the nine months period of 2014.
Total assets of the bank grew to N2.87 trillion in the period under review, a slight improvement of 3.9 per cent over N2.76 trillion which it had as at the end of the nine months period of 2014. 
The deposit base of the bank recorded a 0.3 per cent rise to N2.17 billion in the first nine months of the year. Lending to the public however declined as loans and advances to customers dropped to N1.01 billion. 
This shows a 5.3 declined when compared to N1.07 billion which the bank had given out as loans and advanced to its customers in the nine month period of 2014. Total liability was up by 2.1 per cent rising from N2.49 billion in Q3 2014 to N2.55 billion n Q3  2015.