UBA shares fall 5 pct on profit warning

Reuters- Shares in Nigeria’s United Bank for Africa (UBA) fell the maximum 5 percent on Wednesday after the company issued a profit warning for the full year 2011.

“The Bank expects to announce a loss, driven principally by one-off writes against earnings, including those arising from the transfer of loans to the Asset Management Company of Nigeria (AMCON),” UBA said in a statement.

Shares of UBA fell the maximum 5.0 percent by 1129 GMT, trading at 1.90 naira per share.


About catheyspost

I am a multi-talented journalist, singer and actress by training and an ardent lover of Jesus and not joking about it. follow me on twitter @princesscathey and facebook -Ekaete-Cathey Inih Ebong. love keeping up with trends in the world and don't mind sharing.

Posted on February 8, 2012, in The World of business and tagged , , . Bookmark the permalink. Leave a comment.

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