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%.
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