According to Union Bank of Nigeria Plc, its total earnings increased by 19% to N208. 2 billion in the 2022 fiscal year from N175.0 billion in the 2021 fiscal year.
It revealed that the growth was fueled by a significant increase in net interest income in a statement on its Group audited financial results for the year ended December 31, 2022. The Group’s net interest income increased by 33% to N59.1 billion in 2022 from N44.3 billion in 2021.
Gross loans increased by 11% to N1.0 trillion from N899.1 billion in December 2021 as it increased lending to important economic growth areas. The bank said that its customer deposits increased by 9% to N1.48 trillion from
The Managing Director/Chief Executive Officer, Mudassir Amray, said, “Despite the macroeconomic headwinds of 2022, we recorded strong performance across key financial and operational indicators. “Union Bank noted that the results reflected strong financial performance despite macroeconomic headwinds.
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