November 28, 2022

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Union Financial institution posts N12.3bn revenue in H1’2022


Union Financial institution of Nigeria Plc publicizes its group unaudited monetary statements for the quarter ended thirtieth June, 2022, posting revenue earlier than tax of N12.3 billion.

The financial institution recorded progress of 6.7 per cent in contrast with N11.5 billion within the first half of 2021.

In keeping with the financial institution’s monetary end result for the interval,gross earnings up by 12.5 per cent to N87.4 billion from N77.7 billion reported within the 2021 pushed by increased incomes property.

Internet working revenue after impairment surged by 2.6 per cent to N49.6 billion from N48.3 billion whereas non curiosity revenue down by 24.1 per cent N21.1 billion towards N27.7 billion made in the identical interval of 2021 as a result of international alternate revaluation loss.

Working bills however went up by 1.3 per cent to N37.3 billion fr N36.8 billion on the finish of June 2021.

Commenting on the outcomes, Chief Working Officer of the Financial institution, Mudassir Amray, mentioned: “Following the profitable acquisition of majority shares of the Financial institution by Titan Belief Financial institution, we are actually targeted on strengthening the core enterprise and bettering operational efficiencies throughout board.”

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