Browsing Tag

Profit

UBA Reports Over N189 Billion Profit in First Quarter

United Bank for Africa Reports Impressive First Quarter Profit Growth The United Bank for Africa (UBA) Plc recently unveiled its financial results for the first quarter of 2025, and the numbers are nothing short of remarkable. With a profit after tax soaring to N189.8 billion, the bank has shown a significant leap from N142.6 billion, reported in the same quarter of the previous year. This substantial growth paints a promising picture, but what does it truly indicate about UBA and the broader financial landscape? A…

Mozambique Energy Firm Achieves Unprecedented Profit Milestone

Cahora Bassa Hydroelectric Plant Reports Record Profits in 2024 Mozambique's Cahora Bassa Hydroelectric Plant (HCB) has recently made headlines with its impressive achievement of reporting profits totaling 14.1 billion meticais, equivalent to approximately $219 million, for the year 2024. This remarkable financial performance not only highlights the plant's operational efficiency but also sets the stage for significant investments in the country's infrastructure and social programs. This development was…

FCMB Group Announces Record N111.9 Billion Pre-Tax Profit for 2024

Have you ever wondered what it takes to drive significant revenue growth in today's fast-paced financial world? At FCMB Group, the numbers speak for themselves. By the end of December 2024, the Group had recorded an impressive 53.9% increase in gross revenue, reaching a whopping N794.4 billion. This surge was largely powered by a remarkable 75.2% growth in interest income and a steady 8.7% rise in non-interest income. Even amidst the backdrop of high funding costs, net interest income grew by a solid 27.6%, bolstered by…

Kenya Airways Reports First Profit in Over Ten Years

Kenya Airways planes are seen through a window at the Jomo Kenyatta International Airport in Nairobi, Kenya, August 1, 2020. REUTERS/Njeri Mwangi/File Photo Purchase Licensing Rights. Kenya Airways, a beacon in the African aviation landscape, has reported a stunning turnaround. On a seemingly ordinary Tuesday, the airline, under its stock identifier KQNA.NR, revealed an impressive pretax profit for the last fiscal year, marking a victory lap after more than a decade of persistent losses. Such a revelation strikes a…

Kenya Airways Returns to Profit in 2024 After Long Struggle

Kenya Airways recently made waves with an announcement that caught everyone by surprise on Tuesday. For the first time in over ten years, the airline has recorded a pretax profit, marking 2024 as a significant benchmark in its financial history. Imagine steering a ship through tumultuous seas for over a decade only to finally glimpse a serene coastline. Such is the story of one of Africa's aviation giants. Reporting a pretax profit amounting to 5.53 billion shillings, or approximately $42.82 million, last year was…

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