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UNION BANK OF NIGERIA PLC

Nature of Business: Banking.

Head Office Address: 36 Marina, P.M.B. 2027, Lagos.

Telephone: (002341) 2644373, 2644368, 2664815.

Fax:  (002341) 2644306.

Telex: 28873, 28723, 28729.

Email: [email protected]

Website: www.unionbanknig.com

Date of Incorporation: 1969.

Date Listed on the Lagos Stock Exchange: 1970.

Joint Auditors: KPMG Audit (Chartered Accountants), Lagos;  Oyelami, Soetan, Adeleke & Company (Chartered Accountants), Lagos.

End of Accounting Year: 30th September.

5-Year Financial Summary

 

Union Bank of Nigeria PLC    5-Year Financial Summary   1994 - 1998

 

CAPITAL EMPLOYED 1998 1887 1996 1995 1994
N'm N'm N'm N'm N'm
Cash & Short Term Funds 5,742 5,963 10,363 7,154 5,331
Balances with other Banks/Institutions 57,789 39,345 35,147 45,666 15,929
Bills Discounted 6,361 6,388 9,736 4,511 10,454
Investments 261 157 134 39 78
Investments in Subsidiaries & Associated Companies 60 60 60 62 17
Loans & Advances 26,148 23,364 16,704 11,255 7,105
Other Assets 5,178 4,174 4,084 4,640 2,336
Equipment on Lease 188 251 200 233 115
Fixed Assets 7,730 6,019 3,627 2,863 1,912
Goodwill on Consolidation 129 129 0 0 0
Total Assets 109,586 85,850 80,055 76,423 43,274

FINANCED BY:
Deposits, Current & other Accounts 83,093 63,654 56,914 51,607 24,914
Tax 520 370 261 320 221
Dividends 1,016 523 447 159 95
Other Liabilities 15,800 14,965 18,259 20,841 16,021
100,429 79,512 75,881 72,927 41,251

CAPITAL & RESERVES:
Share Capital 629 397 397 159 159
Share Premium Accounts 1,666 0 0 0 0
Bonus Issue Reserve 0 132 0 238 40
Statutory Reserves 1,918 1,487 672 345 259
General Reserve 1,840 1,273 1,380 992 860

Shareholders' Funds 6,053 3,289 2,449 1,734 1,318
Revaluation Reserve 1,493 1,493 228 228 228
Exchange Differential Reserve 1,486 1,476 1,468 1,534 477
Capital Funds 9,032 6,258 4,145 3,496 2,023
Minority Interest 125 80 29 0 0
9,157 6,338 4,174 3,496 2,023
109,586 85,850 80,055 76,423 43,274

Contingent Liabilities 12,827 12,298 8,033 4,256 4,046
Banking Operations Income 14,973 10,979 11,210 7,893 5,795
Exceptional Item 0 0 0 1,976 0
Profit before Tax 2,318 1,615 1,257 839 606
Profit after Tax 1,924 1,297 1,142 575 420
profit after Tax & Minority Interest 1,879 1,277 1,121 575 420
Dividend 881 437 397 159 95

Per 50kobo Share Data (Adjusted)
Earnings (in kobo) 149 101 89 46 33
Dividend 70 35 32 13 8
Dividend Cover Times 2.13 2.89 2.78 3.54 4.12
Net Assets (in Naira) 7 5 3 3 2
Total Assets (in Naira) 87 68 64 61 34
Stock Exchange Quotation (in kobo) 1070 1300 804 635 246
Earnings and dividend per share are based on the number of issued ordinary shares as at 30.9.98

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