United Capital reports N3.12bn Q1 2021 revenue
United Capital Plc, an investment bank and a pan-African financial and investment services group, has said it recorded N3.12bn revenue in the first quarter (Q1) of 2021.
It said this in a statement on its unaudited financial statements for the period ended March 31, 2021, titled ‘United Capital reports a 67 per cent growth in PAT’.
The statement said it recorded a profit before tax of N1.97bn while delivering earnings per share of 111 kobo.
Mr Peter Ashade, group chief executive officer of the bank, said, “With our well-articulated plans and solid management framework, we were able to deliver an increased revenue of over 63 per cent, increased PBT of 68 per cent and PAT increase of 67 per cent.
“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-optimisation 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.”
