Union Bank of Nigeria Plc reported earnings results for the full year of 2012. For the period, the company reported profit after tax of NGN 7.3 billion and NGN 7.9 billion bank level; a significant turnaround from the bank level 2011 full year net loss of NGN 76.7 billion before the consortium, which includes ADC, finalized the transaction. This was driven by gross revenues of NGN 112.8 billion at group level, and gross revenues of NGN 96.5 billion, net interest income of NGN 58.6 billion. Bank operating income was up 85% year-over-year coming in at NGN 73.9 billion compared to NGN 39.9 billion in 2011.

Union Bank of Nigeria Plc has appointed Senator Udoma Udo Udoma as the new chairman of the board of directors. The bank also named John C. Botts, Cyril Akporuere Odu, Douglas Tawanda Munatsi and James Macarthur as the new non-executive directors. Udoma who took over from Richard Kramer is currently the senior partner of Udo Udoma and Belo-Osagie. He is currently Chairman of UAC of Nigeria Plc and a Director of Unilever Nigeria plc He also Japan's Honorary Consul in Lagos. John C. Botts, representing Corsair Capital is currently a Senior Advisor with Allen & Company, London, Corsair Capital, London, Director and Chairman of the United Business Media Limited and Botts and Company Limited. Cyril Akporuere Odu, representing Africa Capital Alliance, was until recently Vice Chairman of the Board of Mobil Producing Nigeria and CFO for Exxon Mobil Upstream Companies in Nigeria. Douglas Tawanda Munatsi, representing Africa Development Corporation has been the Chief Executive Officer of African Banking Corporation (ABCH) as the founding CEO since 2000 where he has succeeded in creating the ABC Group operating in five countries. James Macarthur, representing the Richard Chandler Corporation joins the Board from the Chandler Corporation where he is the Head of Investments.

Union Bank of Nigeria Plc reported earnings results for the first half of 2012. For the period net interest income rose 1.9% to EUR 155.5 million (NGN 31.2 billion), while net fee and commission income was up 24.3% to EUR 33.0 million (NGN 6.6 billion). At the bank level, the company reversed last year's loss of EUR 219.1 million (NGN 44.0 billion) coming in at first half of 2012 net profit of EUR 67.5 million (NGN 13.6 billion), with a return on equity of 15.1% and 14.4% at group and bank level respectively.