United Capital Posts Strong Growth in Q3, Gross Earnings Up 10%
United Capital Plc, a leading Pan-African Investment Banking Group reported nine-month Gross Earnings of N6.2 billion (10% year on year growth) and Profit Before Tax of N3.9 billion (a stable performance compared to the corresponding period in 2016). The impressive performance is an attestation of United Capital’s commitment to delivering bespoke investment banking solutions to clients across various segments of the Nigerian market and broader African continent.
United Capital’s Shareholder’s Fund grew by 7% year-to-date to N15.2 billion, a reflection of the Group’s resilience and capacity to create value for its investors irrespective of the cycle over the long term. Additionally, United Capital’s strong balance sheet capacity reflects a strong franchise and ability to remain a trusted partner to clients in pursuit of their financial goals.
Commenting on the results, the Group CEO, Oluwatoyin Sanni said;
“The 10% growth in Gross Earnings reflects the positive trajectory of the Group, driven by the loyal support of our esteemed customers and our results-oriented workforce. In spite of the challenging macroeconomic and business environment, we leverage innovation and tenacity to gain market share across our diversified business lines. We broadened our African footprint, launched new offerings to meet the evolving needs of our clientele, and enhanced our online trading platform (InvestNow 2.0), which is built on new technologies.
As a recognition of our strong balance sheet, business capacity and sound governance, Agusto & Co, the foremost rating agency in Nigeria assigned United Capital an ‘A-‘ rating with a stable outlook on our Group – a top notch upgrade from ‘BBB+’ and the highest rating of an investment bank in Nigeria.
As we close out the year, our team is dedicated to sustaining this strong performance, as we remain resolute in delivering superior returns to our shareholders over the long term. We understand the importance of being nimble and innovative at all times. Our team remains optimistic and focused as we identify new opportunities across our diversified portfolio. “