Last 8.99 NGN
Change Today -0.24 / -2.60%
Volume 449.3K
UBN On Other Exchanges
Symbol
Exchange
Lagos
As of 9:31 AM 07/22/14 All times are local (Market data is delayed by at least 15 minutes).

union bank nigeria plc (UBN) Snapshot

Open
9.21
Previous Close
9.23
Day High
9.21
Day Low
8.99
52 Week High
08/6/13 - 12.80
52 Week Low
02/20/14 - 8.10
Market Cap
152.3B
Average Volume 10 Days
481.6K
EPS TTM
0.45
Shares Outstanding
16.9B
EX-Date
11/17/08
P/E TM
19.9x
Dividend
--
Dividend Yield
--
Current Stock Chart for UNION BANK NIGERIA PLC (UBN)

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union bank nigeria plc (UBN) Details

Union Bank of Nigeria Plc provides investment, corporate, commercial, and retail banking products and services for individuals, small and medium sized companies, and corporations in Nigeria and Europe. It operates through five segments: Retail Banking, Corporate Banking, Treasury and Investment Banking, Asset Management, and Insurance. The Retail Banking segment offers private banking services, private customer current accounts, deposits, investment savings products, custody, credit and debit cards, consumer loans, and mortgages. The Corporate Banking segment provides debit facilities, current accounts, deposits, overdrafts, loan and other credit facilities, and foreign currency products. The Treasury and Investment Banking segment offers financial instruments trading, structured financing, corporate leasing, and advisory services. The Asset Management segment is involved in the provision of financial intermediation services, which include trust services, granting of loans and advances, equipment leasing, LPO financing, loan syndication, fixed tenured borrowings, and insurance brokerage services to corporate and individual customers. The Insurance segment offers life assurance, covers for bonds, pension scheme, and general insurance products to individuals and corporate customers. The company also provides pension fund custodial, card, payment and collections, ATM, online and mobile banking, point of sale, and e-statements services. Union Bank of Nigeria Plc operates 339 branches in Nigeria. The company was founded in 1917 and is headquartered in Lagos, Nigeria. Union Bank of Nigeria Plc is a subsidiary of Union Global Partners Limited.

4,588 Employees
Last Reported Date: 05/24/14
Founded in 1917

union bank nigeria plc (UBN) Top Compensated Officers

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Executives, Board Directors

union bank nigeria plc (UBN) Key Developments

Union Bank of Nigeria Announces Group Earnings Results for the First Quarter Ended March 2014

Union Bank of Nigeria announced group earnings results for the first quarter ended March 2014. For the quarter, the company reported gross earnings of NGN 26.0 billion at group level, down 11% year-on-year, and NGN 24.7 billion at core bank level, slightly down compared to prior year period. Profit before tax came in at NGN 5.0 billion at group level, down 35% year-on-year. At core bank level, profit before tax was NGN 4.4 billion, down 4% from prior year results. Group net interest income totaled NGN 13.0 billion, a decline of 12% compared with the first quarter of 2013, while core bank net interest income of NGN 12.6 billion, declined 8%. The reduction in net interest largely reflects declines in Nigerian treasury yields, since 64% of UBN's interest earning assets at the end of first quarter are held in either investment securities or interest earning cash.

Union Bank of Nigeria Plc Reports Group and Company Earnings Results for 2013

Union Bank of Nigeria Plc reported group and company earnings results for 2013. For the year, the company reported gross earnings of NGN 121.4 billion at group level, up 4% year-on-year, and NGN 103.2 billion at core bank level, up 7%. Profit before tax came in at NGN 3.8 billion at group level, up 31% year-on-year. Group net interest income at the end of 2013, totaled NGN 57.4 billion, a decline of 9% compared with year-end 2012. The return on average equity in 2013 was 2.1% for group against 0.7% from the previous year, reflecting the negative impact of one-off restructuring costs and extraordinary provisioning due to the discount house crisis. For the year, the company reported gross earnings of NGN 103.2 billion at core bank level, up 7%. At core bank level, profit before tax excluding UBN UK and all non-banking subsidiaries was NGN 4.2 billion, up 22% from prior year results. Core bank net interest income was NGN 55.1 billion, declined by 6%. The reduction in net interest largely reflects declines in Nigerian treasury yields, since 65% of UBN's interest earning assets at year-end are held in either investment securities or interest earning cash. Furthermore, interest from loans and advances was relatively inflated in 2012 due to accrued interest on a large AMCON bond receivable which was repaid in 2013. The return on average equity in 2013 was 2.8% for the core bank, against 1.8% respectively from the previous year, reflecting the negative impact of one-off restructuring costs and extraordinary provisioning due to the discount house crisis.

Union Bank of Nigeria’s Sale Of Non-Core Banking Businesses To Complete By February, 2015

Union Bank of Nigeria Plc (NGSE:UBN) is planning to sell its non-banking subsidiaries by the end of February 2015. Emeka Emuwa, Managing Director and Chief Executive Officer of Union Bank of Nigeria, said, “The divestment will see the sale of about nine units of the bank before the first quarter of 2015.”

 

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Industry Analysis

UBN

Industry Average

Valuation UBN Industry Range
Price/Earnings 31.7x
Price/Sales 2.5x
Price/Book 0.8x
Price/Cash Flow 120.9x
TEV/Sales NM Not Meaningful
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