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June 30, 2015 4:47 PM ET

Banks

Company Overview of Union Bank of Nigeria Plc

Company Overview

Union Bank of Nigeria Plc provides investment, corporate, commercial, and retail banking products and services for individuals, small and medium sized companies, and corporations in Nigeria and Europe. It operates through four segments: Retail Banking, Corporate Banking, Treasury and Investment Banking, and Asset Management. The Retail Banking segment offers private banking services, private customer current accounts, deposits, investment savings products, custody, credit and debit cards, consumer loans, and mortgages. The Corporate Banking segment provides debit facilities, current accounts, deposits, overdrafts, loan and other credit facilities, and foreign currency products. The Treasury ...

Stallion Plaza

36, Marina

P.M.B 2027

Lagos,  

Nigeria

Founded in 1917

3,042 Employees

Phone:

234 1 2716800

Fax:

234 1 2716850

Key Executives for Union Bank of Nigeria Plc

Union Bank of Nigeria Plc does not have any Key Executives recorded.

Union Bank of Nigeria Plc Key Developments

Union Bank of Nigeria plc Announces Unaudited Bank and Group Earnings Results for the Three Months Ended March 31, 2015

Union Bank of Nigeria Plc announced unaudited bank and group earnings results for the three months ended March 31, 2015. For the quarter, on bank basis the company reported net interest income flat at NGN 12.5 billion against NGN 12.6 billion a year ago. Net operating income up3% to NGN 18.7 billion against NGN 18.2 billion a year ago. Profit Before Tax up 11% to NGN 4.9 billion against NGN 4.45 billion a year ago. Total comprehensive income up 17% to NGN 5.6 billion against NGN 4.8 billion a year ago. Return on Equity 9.5% against 9.4% a year ago. EPS was 29 kobo against 26 kobo a year ago. For the quarter, on group basis the company reported net interest income flat at NGN 13.0 billion against NGN 13.0 billion a year ago. Net operating income up 12% to NGN 16.9 billion against NGN 15.1 billion a year ago. Profit before tax up 106% to NGN 2.7 billion against NGN 1.3 billion a year ago. Total comprehensive income up 211% to NGN 4.4 billion against NGN 1.4 billion a year ago. Return on Equity 4.4% against 10.3% a year ago. EPS was 14 kobo against 28 kobo a year ago.

Union Bank plc Reports Audited Earnings Results for the Year 2014

UNION Bank Plc reported audited earnings results for the year 2014. The bank showed an increase in gross earnings from NGN 121.4 billion in 2013 to NGN 135.9 billion during the year under review while profit after tax rose to NGN 26.8 billion from NGN 3.8 billion achieved in the previous year. The banks net interest income after impairment charge rose from NGN 45.2 billion as at in 2013 to NGN 47.0 billion in 2014. Profit before tax grew from NGN 3.77 billion to NGN 27.7 billion in 2014.

UNION Bank of Nigeria plc Introduces New Hybrid Business Account

UNION Bank of Nigeria Plc has introduced a new hybrid business account, specially tailored to cater to the needs of small businesses. The new UnionEnterprise Hybrid Account gives growing businesses the flexibility of a current account with the benefits of a savings account. It is suitable for businesses such as co-operative societies, trade associations, professional bodies, social clubs and Non governmental organizations. Some of the features of the UnionEnterprise Hybrid Account include access to Union Bank's array of E banking products and services; a minimum daily opening and closing balance of NGN 5,000; lodgement of cheques and dividend warrants; as well as provisions for third party over-the-counter transactions across the Union Bank branch network.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
April 22, 2015
Union Trustees Limited
Merger/Acquisition
September 5, 2014
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