United Capital profits rise 29 percent to N3.26 billion

21 Mar 2016
Chibuike Oguh


The company’s total assets also rose 34 percent to N144.11 billion in 2015.

Oluwatoyin Sanni, Group CEO, United Capital

United Capital, a leading African financial and investment services group, has reported that its pre-tax profits rose to N3.26 billion in 2015, which is equivalent to 29 percent year-on-year rise from the N2.31 billion profits reported in 2014.
According to the group’s audited full-year 2015 consolidated financial statements released at the Nigerian Stock Exchange on Monday, United Capital said gross earnings rose 24 percent to N6.15 billion for the full year ended on December 31, 2015, compared to N4.68 billion in 2014.

The company’s total assets also rose 34 percent to N144.11 billion in 2015, compared to N95.29 billion recorded in 2014.

United Capital – formerly UBA Capital – said earnings per share rose to N43 last year, compared to N41 in the previous year. The company has proposed a dividend of 35 kobo per share.

In 2011, UBA Capital was spun off from the United Bank for Africa (UBA) Group after the Central Bank of Nigeria directed banks to either divest from non-core banking subsidiaries or form holding companies to house such subsidiaries. The company rebranded to United Capital in 2015.

United Capital offers four main services, including investment banking, asset management, trusteeship, and securities. In December last year, the company announced that it had organized a syndicated loan of $250 million for Orion Oil, one of Africa’s largest oil trading companies.

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