Finance & EconomyNews

UBA PLC SHARE PRICE CRASHES 9 % YTD

United Bank for Africa began the year with a share price of 8.65 NGN but has since lost 8.67% off that price valuation, ranking it 118th on the NGX in terms of year-to-date performance. Shareholders’ worries are compounded by the fact that UBA has lost 7% of the stock’s value from  November 5th to date.  UBA closed its last trading day (Friday, December 3, 2021) at 7.90 NGN per share on the Nigerian Stock Exchange (NGX).  

 Week On Week ,however,  United Bank for Africa Plc depreciated by 2.5% as its market capitalization closed the week at   ₦286.608b billion, from N293,868billion at the end of the week’s trading session with its share price standing at N7.90. UBA Plc traded a total of 37,679,952 units valued at N301.08 million at the end of the trading day .In comparison, the bank’s share volume appreciated by 41.44%, from 26.64 million traded last week.

 United Bank for Africa is the fifth most traded stock on the Nigerian Stock Exchange over the past three months (Sep 6 – Dec 3, 2021). UBA has traded a total volume of 756 million shares—in 11,357 deals—valued at NGN 6.12 billion over the period, with an average of 12 million traded shares per session. A volume high of 60 million was achieved on October 28th, and a low of 2.81 million on November 12th, for the same period. The table below details the last 10 trading days of activity of United Bank for Africa on the Nigerian Stock Exchange.

UBA Plc released its Q3 2021 financials, revealing that net interest income appreciated by 23.25% to N229.27 billion from N186.02 billion, while total assets grew to N8.35 trillion from N7.7 trillion. In addition, the company’s profit after tax rose by 35.61% to N104.60 billion, up from N77.13 billion in the same period of 2020.

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