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Q1: UNITED CAPITAL REPORTS A 67% GROWTH IN PAT

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3 years ago

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United Capital Plc (“United Capital” or “The Group”), Nigeria’s leading investment bank and a foremost Pan-African financial and investment services group, announced its Unaudited Financial Statements for the period ended March 31, 2021 on April 28th, 2021, showing a Revenue of N3.12Billion, and Profit Before Tax of N1.97 Billion while delivering an Earnings Per Share of 111 kobo.

United Capital Plc remains a leader in the financial and investment services space, with a mission to provide bespoke and innovative value-added services to its clients. The group aims to transform the African continent by providing innovative and creative investment banking solutions to governments, companies and individuals.

The group is listed on the Nigerian Stock Exchange and is at the forefront of becoming the financial and investment role model across Africa by leveraging on innovation, technology, and specialist skills to exceed client expectations, while creating more value for all stakeholders.

While commenting on the group’s performance the Group CEO, Mr. Peter Ashade, had this to say: “I am pleased to inform all stakeholders that United Capital Plc has commenced the first quarter of the year from a stable position with remarkable earnings growth and strong performance across key financial parameters even as we continued to navigate the tough terrain which at the moment, points to a recovery in the domestic economy amid other improving global macroeconomic developments.

With our well-articulated plans and solid management framework, we were able to deliver an increased revenue of over 63%, increased PBT of 68% and PAT increase of 67%.

“This performance empowers us to adopt a positive outlook on the remaining part of the year 2021 as the operating environment improves supported by fiscal stimulus programmes, easing of restrictions on business operations, reopening of international and domestic travels, resumption of wholesale and retail trading activities as well as the rebound in oil prices.

We have continued to drive our strategy as we continue to push further our market diversification and cost-optimization initiatives as well as implement phased automation of our business processes whilst upholding our commitment to ensuring a significant improvement in our value delivery to all our stakeholders.

Discussing the result further he stressed that;  “Going into the remaining quarters, we remain diligently committed to delivering greater value to our stakeholders and providing best-in-class solutions to diverse client segments by constantly reviewing our strategy in the light of global and domestic developments even as we work with regulatory authorities to strengthen the broader financial system as the domestic economy continues on the path to recovery.

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Zenith Bank Assures Customers on Seamless Transactions, Apologizes for Disruptions During Infrastructure Upgrade

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60 mins ago

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October 3, 2024

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Nigeria’s leading financial institution, Zenith Bank, has reassured its customers of improved services following recent infrastructure upgrades.

 

In a message posted on Thursday, the bank apologised for the service disruptions experienced across its e-channels during the upgrade period.

 

The bank clarified that the glitches were a result of routine information and technology maintenance, which is essential for optimizing service delivery.

 

Zenith Bank emphasized its commitment to ensuring 100% uptime, stating that it takes this responsibility “very personally” and continuously allocates resources to maintain uninterrupted service availability.

 

In the statement, the bank expressed its sincere apologies for any inconvenience caused to customers during the upgrade process, highlighting that the information technology enhancements are designed to improve the quality of service for its esteemed clientele.

 

The message reads in part:

 

Dear Valued Customer,

 

We sincerely apologise for the service disruptions you experienced recently on our banking channels. This was due to an information Technology upgrade aimed at improving the quality of service we provide.

 

We have made significant progress with the upgrade and you can now perform transactions conveniently with the following Zenith bank Channels:

 

Your Zenith Bank Debit Card

The Zenith Bank Mobile App

The Zenith bank Internet Banking Platform

Zenith Agents nationwide (Agent Banking)

 

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News and Report

Just In: Tinubu Set To Embark on  Two-weeks Annual Leave.

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21 hours ago

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October 2, 2024

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President Bola Ahmed Tinubu has announced a two-week annual leave

 

According to Bayo Onanuga Special Adviser to the President (Information & Strategy) President Bola Tinubu will depart Abuja today for the United Kingdom to begin a two-week vacation, part of his yearly leave.

 

He will use the two weeks as a working vacation and a retreat to reflect on his administration’s economic reforms.

 

He will return to the country after the leave expires.

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Alleged Corruption : El-Rufai denies allegations, vow to swear on Quran….

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1 day ago

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October 2, 2024

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A former Governor of Kaduna State, Nasir El-Rufai, has asserted that his entry into politics was driven solely by a desire to serve the people, not to amass wealth or siphon public funds.

 

El-Rufai made this declaration on Tuesday during a Hausa program aired on Freedom Radio, Kaduna.

 

Speaking candidly, the former governor dismissed allegations of financial misconduct during his administration, maintaining that he was already financially content before assuming office.

 

The Kaduna State House of Assembly had earlier indicted El-Rufai’s administration for the misappropriation of over N423 billion during his eight-year tenure.

 

 

However, El-Rufai and his associates have categorically denied the accusations, labeling them as politically motivated.

 

“I did not join politics to steal money or enrich myself. I was satisfied with what I had before becoming governor,” El-Rufai stated, adding that he is ready to swear on the Quran to prove his innocence if other former governors and current leaders do the same.

 

 

“I have always prayed for guidance in all I do, and I strive not to betray the trust of the people. Whenever the former governors of Kaduna State and other leaders are ready to swear with the Quran that they never misappropriated public funds, I will join them. I have no fear because I know I never took money that belonged to the people,” he said.

 

 

The former governor expressed dismay over the allegations, saying his administration has been accused without any clear evidence of where the money went missing or who took it.

 

He further claimed that his allies were being targeted and invited by the Independent Corrupt Practices Commission and the Economic and Financial Crimes Commission as part of a smear campaign against him.

 

“I have left everything to God’s judgment. I have prayed and will remain silent on the issue. I have instructed my lawyers to take legal action against those tarnishing my name, but for now, I’m focused on my activities like reading and writing,” he said.

 

 

El-Rufai emphasised that service to the people continues even after leaving office, stating, “You don’t need to hold a position in government to serve. We are still working with like-minded individuals who genuinely want to serve the people, not those seeking to enrich themselves.”

 

Looking ahead, El-Rufai revealed that he intends to return to politics in 2027 after completing his studies, remarking, “There is no retirement in politics. God willing, we will return and continue serving the people.”

 

 

 

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