United Capital keeps earnings steady in H1 2017 at N3.9bn

United Capital Plc, has kept earnings steady in the first half of 2017 posting a six percent increase over the figure recorded last year.

The investment banking group recorded gross earnings of N3.87 billion and profit after tax of N2 billion, representing a three percent decrease year on year.

Despite the slowdown in economic activities over the last 18 months and inflation averaging 18.2% in the first half of the year, effective cost control measures ensured only a marginal increase in operating expenses for the firm in H1 2017, the company said in filing seen by Businessamlive.

“United Capital has remained committed to providing financial solutions for domestic and international investors, with a keen understanding that our business model must evolve to complement our clients’ financial objectives.

“While the challenges in the market may have proved disruptive to various aspects of the economy, it has also opened an avenue for the development of innovative investment banking products/solutions for United Capital,” it said.

The investment banking group also said in its commitment to innovate and lead the development of the capital markets in the continent, the group’s United Capital Asset Management launched the United Capital Wealth for Women Fund and the United Capital Nigerian Eurobond Fund.