United Bank for Africa(UBA) Kenya Limited, in the league of small tier banks, recorded KSh 67.6 Million in net profit at the close of 2019. This is compared to KSh 53.1 Million made the previous year.
With three branches in Nairobi, its Customers’ deposits increased to KSh 6.9 billion from KSh 6.6 billion while loans to customers increased to KSh 3.6 billion from KSh 3.4 billion.
Total Shareholder funds now stand at KSh 2.2 billion from KSh 2.1 billion while the bank’s investment in Government paper fell from KSh 2.6 billion to KSh 2.1 billion at the close of 2019.
Interest income from loans to customers fell from KSh 384.8 Million to KSh 345.7 Million while Total Interest Income increased from KSh 1.2 billion to KSh 1.5 billion.
Fees and commissions earned from loans to customers declined from Ksh 16.6 billion to KSh 11.7 billion.
Loan loss provisions increased significantly from KSh 8.7 Million to KSh 190.1 Million as the size of non-performing loan book doubled from KSh 441.7 Million to KSh 882.9 Million.
UBA Kenya Bank Limited is a subsidiary of Nigerian-based United Bank for Africa. The lender has subsidiaries in 20 African countries, the USA, UK and France.
