Nigeria: UBA's Loan Book Rises 42 Percent to N973 Billion

31 March 2014

United Bank for Africa (UBA) Plc grew its loan book by 42 per cent to N937 billion for the year ended December 31, 2013, from N659 billion in 2012. The bank attributed the growth to several big ticket transactions carried out in 2013 especially in the power, oil and gas sectors.

According to the Group Managing Director /Chief Executive Officer of UBA, Phillips Oduoza, the bank in 2013 committed $700 million in funding to the power sector privatisation exercise in Nigeria, financing different investors to acquire the power assets divested by the Federal Government of Nigeria.

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