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UBA Group reports record N607 billion profit, buoyed by higher interest income, fx gains

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UBA Nigeria Plc, one of Nigeria’s oldest and largest banks, reported its audited accounts for 2023, revealing gross earnings of N2 trillion, a significant increase from N835 billion just a year earlier.

This achievement marks the bank’s highest gross earnings on record and ranks as one of the highest in the banking sector for 2023.

Following this remarkable top-line performance, the bank announced a profit after tax of N607.696 billion in 2023, which represents a 257% surge from N170.277 billion in 2022.

This performance not only sets a record for the bank but also ranks among the top two best results observed so far.

This is also evidenced by an aggressive growth in its loan book jumping 66.7% to N5.28 trillion in the year under review.

This also resulted in a net interest income after impairments of N503 billion, one of the best in the banking sector in 2023.

Despite its aggressive growth in its loan book, the group also reported a strong capital adequacy ratio of 32.6% up from 29.6% same period last year.

Contributing to the group’s interest income is interest earned from investments in treasury bills and bonds of N242.2 billion and N258.8 billion respectively.
Asides UBA Ghana and Kenya, all of its key subsidiaries across Africa all reported impressive profitability growth.

On other income earned the bank’s earnings from commissions and fees is largely driven by electronic banking income, trade transaction income, credit related fees and commissions on transaction services.

Perhaps the most notable contributor to profits was a whopping N457 billion earned from Net fair value gain on derivatives.

According to the bank it raked in a massive N498.7 billion in foreign currency swaps which is a financial instruments held by commercial banks with the central bank on the other side of the trade.
It also earned N112.1 billion from foreign exchange income

The bank also reported that included in its cash and cash equivalent is an estimated N2.2 trillion from revaluation gains.

3 Comments Text
  • This design ensures you stay linked to the bar, even if you loosen up
    your grip. Figure 8 straps are excellent for grip-taxing lifts like heavy deadlifts and shrugs, however they will not
    be suitable for energy actions or workouts that require weight dumping.
    You can depend on our premium weightlifting straps to assist with
    grip strength throughout deadlifts, rows,
    pull-ups, or another pulling movement.
    The nylon version of the Rogue straps is much more sturdy than the cotton. If you’re
    training with heavy weights, especially deadlifts, I recommend
    them over the cotton straps. Nevertheless, nylon is less
    snug and doesn’t handle moisture almost as nicely. Cotton may
    be a better possibility to stop slippage if you sweat
    so much. This means that they’ll give you
    the confidence to raise more, for longer.
    If you’re seeking to improve weight but seem to have plateaued, strive a pair of lifting
    straps.
    One of the features of how to use lifting straps that makes things slightly
    extra difficult is the truth that there are 4 different sorts of lifting straps.
    And while all 4 provide the identical performance – improved grip for lifting heavy weight – all 4 are
    designed and work a bit in a different way. Discover our heavy
    obligation lifting slings and straps at Lifting Gear Retailer USA!

    The neoprene padding isn’t very thick, however it’s comfy and
    non-irritating, even when I’m sweating a lot. Despite the shortage of padding, these
    straps dig into my skin less than other brands.
    Hooks are usually better for bodybuilding-type actions, making them less versatile.
    By eradicating grip fatigue from the equation, lifters can focus on proper muscle contraction and isolation. This mind-muscle connection could be a highly effective asset when training for
    hypertrophy, however it’s useful in all coaching features.

    As A Result Of the hook is made from inflexible, shaped metal, the load could sit
    in a special way relying on shaft diameter.
    From durable metal to versatile artificial choices, our slings are built for power and reliability.
    Excellent for industrial crane lifts or numerous lifting
    and rigging tasks, you will find the proper sling to deal with your needs with ease.
    With the assistance of lifting straps, you presumably can improve your grip energy, take your training to another stage, progress sooner,
    and target muscular tissues better. The 23.5-inch Rip Toned Lifting Straps for Weightlifting are produced from
    100% cotton with a comfortable, neoprene padding.

    Gymshark lifting straps may help you step up
    to the bar with confidence, by relieving a few of the pressure attributable to gripping the bar throughout heavy lifts.
    Whether you’re a passionate lifter or professional bodybuilder, a lifting strap might help you probably can carry heavier; perfect
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    The grips are moderately priced, the extra length beneficial,
    and the neoprene padding is comfy. The padding can take some getting used to as a outcome of while it does provide comfort and safety from calluses, it takes some practice wearing and wrapping the straps.
    Using any one of the various kinds of lifting straps means you’ll be able to hold onto the load
    for as long as possible, even when your grip starts to
    fail.
    This makes it probably the greatest lifting straps for Strongman coaching, significantly when doing axle bar deadlifts.
    This padding additionally turns into useful when performing exercises like heavy deadlifts.
    This is as a end result of as the load on the bar goes up,
    lifting straps can dig into your skin extra.
    They still create a very safe fit, and I’ve found that I prefer the 20″ size total.
    There is an old SNL skit the place one of the actors
    goes to deadlift and their arms rip off because of how heavy the weight
    is. You can verify their status on-line or ask others who weight carry.

    Companies with an excellent popularity could have positive reviews on-line.
    In all circumstances, you need to verify what weight a strap can deal with, it should be
    greater than your one rep max. Nonetheless, the most important drawback of those is
    that you just can’t just drop the bar, your wrists will nonetheless
    be attached. The greatest method to strengthen any a half of you is to
    use the muscular tissues to exhaustion.
    There is double stitching at the end of the straps,
    which makes them extra sturdy. The Harbinger Cotton Padded Lifting Strap is a
    lasso-type strap made of cotton. It will allow you to get a tighter grip while protecting your arms and giving you
    consolation. Cobra Grips PRO is a mixture of a lifting glove and a wrist wrap.
    Which one to choose depends on your private desire and the type of weightlifting you propose to do.
    We have the entire rigging gear you have to lift safely and keep in compliance.

    That’s why we provide on-site protected lifting and inspection providers to
    each Lift-All® customer.
    And it has the above and beneath the hook stock clients want,
    once they need it. For optimum care, it is highly beneficial to let all leather-based objects get some recent air.
    Avoid stashing them in transport luggage – as an alternative, hang them on the surface of your bag using
    certainly one of our bag straps or tuck them
    away inside your bag with certainly one of our mesh luggage.
    Utilizing our Onyx Oil every so often can be suggested to keep them in prime shape.
    This helps defend them from the unfavorable results of chalk, sweat, and the damage and tear
    of training. Our merchandise are bought to
    industrial distributors and contractor supply houses.
    Specify Lift-All when ordering to get the most effective products
    for overhead lifting and load securement merchandise.

    These straps boast a “no-slip” issue since each strap is 18″ long. This ensures that you have got loads of material to securely tighten across the bar for a safer and more comfy coaching expertise. Lifting hooks sometimes make use of a velcro strap that wraps around your wrist, and then embody a steel hook that curves underneath the barbell (away out of your body). Additionally, gripping the material of your strap, as a substitute of the tough knurling of the load you are lifting is commonly a way more pleasant experience. Our cellular gantries are equally effective and adaptable; you just need the right lifting sling to take full benefit of what they have to supply.
    They have been very safe in our testing and greatly lowered grip fatigue. We feel the Gymreapers straps are hard to beat for the cash, especially with the lifetime replacement assure. Buying your first set of lifting straps is a giant step in all lifter’s journeys and oftentimes the first piece of substances that we purchase that is dedicated solely to lifting weights. If you could have a cycle that contains a high number of reps, lifting straps can take a few of the stress off your hands and help stop them from getting utterly destroyed. As your grip energy fades, you’ll find the straps briefly take the strain, allowing you to securely lower the load again to the floor.
    The straps are available a selection of colors, are very moderately priced, and the size lets you wrap them across the bar two or 3 times. Some find them comfy and effective for deadlifts, holding with out slipping. Others point out that the fabric is slippery and doesn’t grip the bar properly, making it more durable to take care of a robust grip. Padding is crucial to provide an additional layer of safety, safety, and luxury.
    Crafted from heavy-duty cotton, they are thought-about the best general Figure eight lifting straps available on the market. These straps have been rigorously examined and endorsed by a 15-year powerlifting coach and trainer. The Gymreapers Lifting Wrist Straps are 18 inch cotton wrist straps with a cushioned neoprene collar that is snug whereas also providing assist to your wrists.
    The Gymreapers Determine 8 Lifting Straps are well-priced, sturdy, and effective for heavy coaching. They’ve performed nicely and have held up strongly… until that one time I reduce one up to prototype a product concept. The most notable function of Versa Gripps Pro is the 6.25″ lengthy palm flap. By placing the bar between your palm and the flap, you fold it towards your palm to lock it in. The whole setup solely takes a few seconds, and you may engage both grips at the same time. This model is 20″ lengthy in comparability with the nylon model (22.5″), making them a bit easier to arrange.
    They aren’t as efficient for heavy lifting, however they excel elsewhere. Versa Gripps have a unique flap design and are probably the most premium lifting straps you should purchase. The 23″ length of those straps is plenty to create a very secure fit, but remember that extra length makes it slightly more cumbersome to set up. They also build up extra within the hand until you deliberately don’t fully wrap the straps across the shaft. While many lasso-style straps are made with cotton, I’m significantly impressed with how comfy these are. They have a soft texture and are slightly thinner than some, making them probably the most comfy straps I’ve tested. The sewn neoprene lining enhances comfort on the top of the wrist, though it’s shorter than some I’ve used.
    Additionally, they shouldn’t be worn on a daily basis as a result of they don’t take up sweat. This can reduce the possibilities of critical injuries and slipping accidents. Low-quality straps will break down rapidly, so you’ll have to replace them regularly.
    CrossFit lifters also profit from our lifting grips, as they supply strong support without constricting the wrists during intense workouts. Gymreapers offers premium lifting straps in a range of colour options, permitting you to specific your fashion. The lasso style is the most typical in novice circles and the cheapest.
    If you’re going to be getting critical into powerlifting, you could wish to contemplate Serious Strength’s Determine eight Straps. They’re unbelievably thick, durable and the determine eight design offers maximum connectedness to the bar for deadlifts. Weightlifting straps decrease the amount of the strap that gets wrapped across the bar. This is a vital design factor as a result of this allows the strap to be shortly and easily released from the bar.
    This distinction implies that lifting straps can be utilized for basically any conceivable motion the place you are trying to enhance your grip on one thing. Spherical lifting slings are continuously woven, each the core and outer, with no seams, making them soft and strong. Chain slings are very versatile and can have 1,2,3 or four legs and can also be utilised in different hitch sorts and with many forms of hooks and catches on the ends. Alongside with other connectors and grasp hyperlinks they are often adapted for many various sorts of loads. We additionally provide stainless steel chain and elements alongside our standard metal chain, in grade eight and 10 metal. Lifting straps are an amazing tool to assist with lifting heavy weights for pulling exercises like shrugs or even weighted pull-ups. Work on bettering your grip by not using lifting straps until you actually need them.
    The loop is sewn on accurately, making them straightforward to wrap tighter than others, and the stitching is very well carried out. Wearing lifting straps or lifting hooks will help you carry heavier for most pulling workouts, especially during high-rep units. It additionally supports your wrist enough so that you simply can do a couple of more reps than ordinary. Overall, I am very happy with the Iron Bull Energy Lifting Straps.
    Nylon has a stiffer fiber profile with much less stretch, making it an ideal selection for heavy lifting. For example, the IronMind Lifting Straps have been a staple in Strongman competitions for years. Wrapping the wrists with a supportive enclosure might help lifters with wrists points during pushing actions. Moreover, it could increase general comfort for some lifters when traditionally used for pulling movements.
    Slide one finish of the lengthy strap through the loop opening to create a circle. Then, slide the loop over your wrists and tighten the straps, repeating the process on the opposite aspect. The finest lifting straps for you will depend upon the type of lifting you do, how usually you’re at the health club, and personal necessities. Beneath, we’ve included particulars of some of the primary features of lifting straps to help you discover the pair that greatest meets your needs. Selecting one of the best lifting straps means finding the set that works greatest for you and your scenario.
    Figure eight straps bind your wrist and the bar together higher than some other strap. Ideally, you must know who they’re and whether they have a great reputation. If you’re intending to raise heavier than that you’ll need to verify the weight capability. Here are several things to contemplate when selecting a lifting strap. The latest critiques of must-have house health club coaching equipment, attire, and supplements that may enhance your efficiency and convey you new results. Lifting straps have been shown to assist maintain lifting capacity whereas finishing sets. There are a quantity of explanation why this is the case, and why you ought to be getting some your self.

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    http://www.andreagorini.it/SalaProf/profile/leroyvalladares/
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    https://goelancer.com/question/is-testosterone-a-steroid-understanding-the-difference/
    https://fancybox.qa/2025/03/05/top-7-testosterone-cycles-the-ultimate-stacking-guide/
    http://37.221.202.29/blog/index.php?entryid=10373
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  • Some analysis indicates that ladies might expertise smaller will increase in muscle mass and power from creatine supplementation in comparability with
    males. However, ladies nonetheless profit from creatine in areas such as energy, restoration, and general physique
    composition. AS-IT-IS ATOM Creatine Monohydrate makes use of
    a richly flavored blue razz profile for a delicious creatine ingesting expertise.

    Nonetheless, some corporations may add other elements to creatine dietary supplements which
    may lead to a product that’s not vegan or vegetarian-friendly.

    This complement from Bare incorporates 5 g of micronized creatine monohydrate powder per serving.
    The firm claims this product accommodates just one ingredient, creatine monohydrate.

    ‘Creatine can increase water retention, which in some sports might lead to a unfavorable impact on efficiency,’ says Kasper.
    Based on our intensive testing, we discovered that Clear Labs’ Bulk
    Pre-Workout has every thing you should improve your
    reps, vitality, and focus during your exercises.

    Each serving accommodates 8 grams of citruline malate, an amino acid salt that enhances blood circulate to your muscle tissue while removing waste and growing nutrient delivery.

    As a outcome, I’ve noticed a drastic discount in energy and muscle mass.
    I’m curious to strive creatine to see if it might be useful for growing my lean mass
    as I begin to ramp up my workouts again. Our dietitians checked
    out general high quality, elements, and taste to search out the best
    creatine dietary supplements. Creatine is a naturally
    occurring molecule produced by our bodies and located in foods
    like meat, fish, and eggs. It Is additionally available as
    a well-liked sports activities nutrition supplement generally identified as creatine monohydrate.
    Keep scrolling to discover our high picks of the best creatine supplements to buy this 12 months.

    A three-year examine by Arkansas State College showed that 5g/day of creatine had no
    effect on the incidence of injury or cramping in a bunch of American footballers.
    In a retrospective examine of 26 athletes using creatine for as much as four
    years, US researchers found no distinction within the reported
    incidence of muscle cramp or harm in contrast with creatine-free athletes.
    So you could be better reaching for a shaker than your morning
    cappuccino. GNC is a quantity one world well being and wellness model that gives customers with all
    kinds of science-based products and answer services to Live
    Well. GNC’s diversified, multi-channel enterprise mannequin has worldwide reach and a well-recognized, trusted model.

    Therefore, creatine offers quite a few well being and wellness
    advantages for men and women along with sports activities performance
    enhancement. Sourced from a number one world creatine provider,
    the Creapure compound ensures an exceptionally pure, potent complement freed from impurities.
    Germany additionally has stricter manufacturing
    requirements in comparability with some international locations.

    A every day dose is simply one pill once daily, so it’s a
    wise choice for these trying to scale down from different multis that require two or
    extra tablets to be taken day by day. It’s been independently
    verified for content accuracy, purity, and freedom of contaminants with the
    gold-standard NSF seal of approval. So you possibly can know that what’s
    advertised on the Diet Facts Panel is what’s actually inside the capsule
    itself. You want a formula that contains 100% of the Every Day Worth
    (DV) for many nutritional vitamins and minerals.
    And then, specifically, select a multivitamin that accommodates
    the active (and extra beneficial) form of folate referred to as methylfolate, not
    folic acid. Avoid mega-dose multivitamins, which might include excess of the recommended
    every day consumption and may be dangerous.
    Frontloading requires round 3-10 the regular daily dose, so that
    you might want to keep away from tablets (for price and
    comfort reasons). We’re on the lookout for high purity, and
    a serving that provides 3+ grams of creatine. This is the quantity thought of efficient
    in most research and can present optimistic results in the
    long-term.
    It performs a vital position in vitality production, particularly throughout
    high-intensity, short-duration workout routines like weightlifting and sprinting.
    Whereas some analysis on supplements is sparse at
    best, the info on creatine is powerful. Results consistently show
    that taking three to five grams a day (even upwards of 10 grams) is
    safe and efficient. People who take the popular sports supplement creatine and carry weights do not construct muscle
    any faster than those who do resistance coaching without the supplement,
    new analysis exhibits.

    References:

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  • Some analysis indicates that ladies might expertise smaller will increase in muscle mass and power from creatine supplementation in comparability with
    males. However, ladies nonetheless profit from creatine in areas such as energy, restoration, and general physique
    composition. AS-IT-IS ATOM Creatine Monohydrate makes use of
    a richly flavored blue razz profile for a delicious creatine ingesting expertise.

    Nonetheless, some corporations may add other elements to creatine dietary supplements which
    may lead to a product that’s not vegan or vegetarian-friendly.

    This complement from Bare incorporates 5 g of micronized creatine monohydrate powder per serving.
    The firm claims this product accommodates just one ingredient, creatine monohydrate.

    ‘Creatine can increase water retention, which in some sports might lead to a unfavorable impact on efficiency,’ says Kasper.
    Based on our intensive testing, we discovered that Clear Labs’ Bulk
    Pre-Workout has every thing you should improve your
    reps, vitality, and focus during your exercises.

    Each serving accommodates 8 grams of citruline malate, an amino acid salt that enhances blood circulate to your muscle tissue while removing waste and growing nutrient delivery.

    As a outcome, I’ve noticed a drastic discount in energy and muscle mass.
    I’m curious to strive creatine to see if it might be useful for growing my lean mass
    as I begin to ramp up my workouts again. Our dietitians checked
    out general high quality, elements, and taste to search out the best
    creatine dietary supplements. Creatine is a naturally
    occurring molecule produced by our bodies and located in foods
    like meat, fish, and eggs. It Is additionally available as
    a well-liked sports activities nutrition supplement generally identified as creatine monohydrate.
    Keep scrolling to discover our high picks of the best creatine supplements to buy this 12 months.

    A three-year examine by Arkansas State College showed that 5g/day of creatine had no
    effect on the incidence of injury or cramping in a bunch of American footballers.
    In a retrospective examine of 26 athletes using creatine for as much as four
    years, US researchers found no distinction within the reported
    incidence of muscle cramp or harm in contrast with creatine-free athletes.
    So you could be better reaching for a shaker than your morning
    cappuccino. GNC is a quantity one world well being and wellness model that gives customers with all
    kinds of science-based products and answer services to Live
    Well. GNC’s diversified, multi-channel enterprise mannequin has worldwide reach and a well-recognized, trusted model.

    Therefore, creatine offers quite a few well being and wellness
    advantages for men and women along with sports activities performance
    enhancement. Sourced from a number one world creatine provider,
    the Creapure compound ensures an exceptionally pure, potent complement freed from impurities.
    Germany additionally has stricter manufacturing
    requirements in comparability with some international locations.

    A every day dose is simply one pill once daily, so it’s a
    wise choice for these trying to scale down from different multis that require two or
    extra tablets to be taken day by day. It’s been independently
    verified for content accuracy, purity, and freedom of contaminants with the
    gold-standard NSF seal of approval. So you possibly can know that what’s
    advertised on the Diet Facts Panel is what’s actually inside the capsule
    itself. You want a formula that contains 100% of the Every Day Worth
    (DV) for many nutritional vitamins and minerals.
    And then, specifically, select a multivitamin that accommodates
    the active (and extra beneficial) form of folate referred to as methylfolate, not
    folic acid. Avoid mega-dose multivitamins, which might include excess of the recommended
    every day consumption and may be dangerous.
    Frontloading requires round 3-10 the regular daily dose, so that
    you might want to keep away from tablets (for price and
    comfort reasons). We’re on the lookout for high purity, and
    a serving that provides 3+ grams of creatine. This is the quantity thought of efficient
    in most research and can present optimistic results in the
    long-term.
    It performs a vital position in vitality production, particularly throughout
    high-intensity, short-duration workout routines like weightlifting and sprinting.
    Whereas some analysis on supplements is sparse at
    best, the info on creatine is powerful. Results consistently show
    that taking three to five grams a day (even upwards of 10 grams) is
    safe and efficient. People who take the popular sports supplement creatine and carry weights do not construct muscle
    any faster than those who do resistance coaching without the supplement,
    new analysis exhibits.

    References:

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    https://git.monkeycap.com/leopoldowoodal
    https://git.jerrita.cn/kristopher9058
    https://git.hanckh.top/rondachauvin89
    https://git.sprace.org.br/adelinetux7932

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