UBA Sierra Leone Records Outstanding Performance in The 2022 Financial Year
UBA Sierra Leone has published its audited financial statements for the year 2022. Despite economic challenges, the bank achieved remarkable performance, with significant improvements across all indices.
Its gross earnings grew by 64% YoY, reaching SLE 427 million while profit before tax and profit after tax increased by 71% YoY to SLE 271 million and SLE 203 million, respectively.  The bank also saw improvements in its cost-to-income ratio and return on average equity.
On the balance sheet side, UBA Sierra Leone experienced a 54% YoY growth in total assets, reaching SLE 2.97 billion, and a 61% YoY growth in net loans, amounting to SLE 258.1 million. Customer deposits increased by 60% YoY to SLE 2.08 billion and shareholders’ funds grew by 30% YoY to SLE 439.9 million. The bank maintained a liquidity ratio of 160.7%.
[social_share_post]
Explore UBA
You may also be interested in
UBA Business Series Showcases ‘Gen W: The Evolved Woman’, Celebrating Female Leadership, Enterprise
Africa’s Global Bank, United Bank for Africa (UBA) Plc, on Thursday, hosted a captivating edition of its quarterly Business Series, bringing together accomplished female leaders
UBA Commemorates Women’s Month with Special Edition of Business Series
Africa’s Global Bank, United Bank for Africa (UBA) Plc, is set to host a special edition of its impactful quarterly UBA Business Series, which will be specifically
UBA UK CEO Unveils Strategy to Bridge Africa’s $100bn Trade Finance Gap
The Chief Executive Officer of UBA UK, Loknath Mishra, has unveiled a strategy to position the bank at the forefront of efforts to bridge Africa’s
UBA Unveils Diaspora Platform to Connect Global Africans with Investment, Wealth Opportunities
Africa’s Global Bank, United Bank for Africa (UBA) Plc, has unveiled a diaspora banking and investment platform designed to serve Africans living and working worldwide
