United Bank for Africa (UBA) recorded N78.946 billion as e-business income during the full year of 2022, representing 25 per cent of the N307.472 billion e-business income realized by eleven banks listed on the Nigerian Stock exchange for the full year 2022.
E-business income encompasses revenue generated through electronic channels, card products, mobile applications, USSD channels, automated teller machines (ATMs), agency banking, internet banking, and point of sale (POS) payments.
An analysis of the financial statements of UBA shows that N78.946 billion is an increase of 22.21 per cent compared to the N64.595 billion recorded in the full year 2021.
Access Holdings trailed UBA, generating N59.653 billion from its electronic business, accounting for 19.40 per cent of the total amount generated by the banks under review.
The bank’s e-business income dropped by 9.99 per cent year-on-year compared to N66.280 billion recorded in the previous year.
According to the results presented on the floor of the Nigerian Exchange Limited (NGX), the Group’s gross earnings rose by 43 per cent to hit N1.388 trillion, as against the N971.9 billion it recorded the previous year, while interest income was up by 19 per cent to N359.4 billion from N301.5 billion recorded in 2021.
First Bank’s e-business revenue declined by 2.26 per cent in the full year of 2022 to stand at N55.099 billion from N56.375 billion recorded in 2021.
The Group’s Gross Earnings were up 6.32 per cent to N805.128 billion from N757.296 billion posted in 2021, driven by strong growth in interest income.
Profit before Tax dropped by 5.26 per cent to N157.902 billion as against N166.662 billion posted in 2021.
Zenith Bank Plc posted an e-business income of N45.739 billion during the full year of 2022, an increase of 30.07 per cent compared to N37.470 billion recorded in the corresponding period of 2021.
