Financial and investment services group United Capital grew turnover by approximately half to N26.9 billion last year, its biggest revenue since its inception 21 years ago.
But a PREMIUM TIMES’ analysis of its financials showed that the milepost could not lift profit because of the exigency of meeting certain costs.
The holding company which divorced from United Bank for Africa in 2022 and now runs on its own, leaned on income from its flagship investment banking division to drive growth in its top line in a year where income from managed funds was especially strong.
