Nigeria, April 23 -- Quarterly profits at United Bank for Africa (UBA) gained 33.1 per cent speed more than a year ago, helped by a notable improvement in the income it generated from lending and from its investments in financial assets.

The lender's earnings report for the three months to March issued on Wednesday showed investment securities like bonds, treasury bills and promissory notes added 48.7 per cent to the interest income pool, compared to 45.7 per cent a year earlier.

It is a shift away from the general expectation that the contribution of interest revenue from lending, being the primary business of banks, to the top line will reasonably outweigh those of other income sources.

That could mean the lender is relying less on l...