UBA Kenya FY 2018 net profit increases to Ksh. 53 million

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United Bank for Africa (UBA) Kenya has announced that it has registered a profit after tax of Ksh. 53.1 million for the financial year ending December 31 2018. This represents a 185% growth from Ksh. 18 Million net profit in 2017.

The bank’s Total Asset base increased to Ksh. 15.3 billion from Ksh. 6.5 Billion in 2017. Income increased to Ksh. 703 million in 2018 from Ksh. 602 million in 2017. Expenses increased to Ksh. 679 million from Ksh. 589 million in 2017

Commenting on the results, Mr. Emeke E. Iweriebor CEO, UBA East and Southern Africa, noted that “The bank delivered positive numbers, demonstrating that our growth strategy resonates well with our customers. We are confident of better performance in 2019”.

“As a bank we remain focused on our brand promise to our customers ‘Excellent service delivered’ in line with this, we endeavor to provide our customer with innovative and convenient banking solutions.” concluded Mr. Iweriebor.

In 2018, UBA launched its Facebook chat banking service dubbed LEO, enabling customers to carry out banking transactions via Facebook Messenger, marking a great milestone in the Kenyan banking sector while becoming the first bank in Kenya, to offer such a service.

UBA Kenya is a subsidiary of UBA Plc and is licensed by the Central Bank of Kenya. The Bank has been operating in Kenya since 2009 offering a full range of banking products and solutions.

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