UBA share price surges to 2-month high on half year profit report

Shares of United Bank for Africa (UBA) surged to a two month high after the bank said pre-tax profit for the first half of the year more than doubled to N31.84 billion. UBA, a top tier bank, rose 4.89 per cent to N4.29, almost the maximum five percent limit allowed, to value it at around N141 billion and help lift the all-share index up 0.37 per cent to 22,203 points