LAGOS, April 23 Nigeria's Union Bank
said on Wednesday its 2013 pretax profit rose to 4.2 billion
naira ($25.98 million), up 24 percent from 3.4 billion naira a
The lender said gross earnings grew 7 percent year-on-year
to 103 billion naira during the 12-month period to Dec. 31, it
said in a statement.
Union Bank said it had not consolidated its subsidiaries as
part of its 2013 accounts because it was in the process of
disposing of them to focus on retail and business banking in
Africa's biggest economy.
($1 = 161.6500 Nigerian Nairas)
(Reporting by Chijioke Ohuocha, editing by David Evans)