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Yaoundé - 19 November 2017 -
Finance

Over H1 2017, UBA Cameroon was the most profitable of the Nigerian banking group among its 10 subsidiaries in French-speaking Africa

Over H1 2017, UBA Cameroon was the most profitable of the Nigerian banking group among its 10 subsidiaries in French-speaking Africa
  • Comments   -   Friday, 08 September 2017 11:01

(Business in Cameroon) - UBA Cameroon, subsidiary of Nigerian banking group, United Bank of Africa (UBA), recorded a profit of 1.956 billion naira (FCFA2.951 billion) for the first half of 2017. This makes the Cameroonian unit the most profitable of the Nigerian lender, among its pairs in French-Speaking Africa, according to the group’s financial reports at the end of June 2017.

All over UBA’s network in Africa, Nigeria excluded, the Cameroonian subsidiary has the second best net profit, behind Ghana’s whose profits at the end of June 2017 were almost six times the size of UBA Cameroon’s, thus 7.981 billion naira (a bit more than FCFA12 billion).

UBA Cameroon is followed by the subsidiaries of Senegal, Congo Brazzaville and Chad which respectively had net profits of 1.763 billion naira (about FCFA2.6 billion), 1.593 billion naira (FCFA2.4 billion) and 1.301 billion naira  (FCFA1.9 billion) at June 30, 2017.

In French-speaking Africa, besides Cameroon, UBA is present in Ivory Coast, Senegal, Guinea, Gabon, Benin, Burkina Faso, Chad, Congo Brazzaville and the Democratic Republic of Congo.

Brice R. Mbodiam

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