United Capital PLC Grows Q2 Revenue by 33%

United Capital

United Capital PLC, one of Nigeria’s frontline provider of investment banking services, portfolio management services, securities trading and trusteeship has grown its revenue by 33%

In its Q2 result released shortly, the United Capital’s gross income rose to NGN3,6 billion compared NGN2,7 billion the company made in the same quarter last year.

One of the major contributor to its headline revenue is its net interest margin which increased to NGN695 million compared to NGN344 million recorded last year for the period under review.

The company also recorded zero loss from financial assets held for trading compared to a net loss of NGN23 million the company recorded last year.

However, over 70% of United Capital’s liabilities are funds under its management. This has grown to NGN125,9 billion from NGN109,1 billion last year of the same quarter. Net profit for Q2 grew to 2billion compared to NGN1,4 billion declared last year.

The company’s shareholder funds stood at NGN3 billion till date.

 

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