UBA Plc Climbs To N1.3trn Ahead of Earnings

The United Bank for Africa (UBA) Group Plc market value has increased to N1.3 trillion in the equities segment of the Nigerian Exchange (NGX) on the back of a sustained rally.

The Pan-African financial services group share price rose near record high in 12 months, according to data from the Nigerian Exchange, settling at N38 on Thursday.

More than 20 million shares were traded at a total value of N775.568 million in the local bourse as investors’ appetite for diversified banking group’s stock increased.

After a 66 basis point increase in the group share price, UBA is now fairly close to its 52-week high of N38.4 as the market anticipates the release of fourth quarter earnings and capital raise results.

Analysts said the market value of UBA would grow in line of the trend in the banking sector after it release details of the amount raised from its offers.