Union Bank has released its audited financial result for the year ended December 31st 2021, reflecting resilient revenue growth in the face of macroeconomic headwinds.
Union Bank has sustained steady performance as a result of increased customer engagement from an enhanced operating and go-to-market model and gains derived from our digital penetration strategy.
The bank result showed that gross earnings: up by 8.9 per cent to N175.0 billion from N160.7 billion reported in the previous year, and was driven by strong non-interest income.
The Non-interest income rose 26.7 per cent to N55.7 billion from N44.0 billion in 2020 financial year. The growth driven by significant increases in debt recoveries.
Net operating income after impairments: down 3.6 per cent to N99.7 billion against N103.4 billion in comparative period of last year.
