The Nation Newspaper

Tag: UBA

  • UBA grooms 30 campus ambassadors

    Thirty students from 10 universities nationwide left Lagos recently armed with skills to be change-agents on campus courtesy of United Bank for Africa (UBA) Campus Ambassador Programme.

    They emerged from a pool of over 300 applications from students pan-Nigeria.

    They will spend the next six months learning and implementing projects that would showcase their leadership potential.

    At the students’ inaugural training at the UBA Headquarters Marina, Lagos penultimate week, Chuks Nweke, Executive Director, Group Chief Operating Officer, told the students they were selected because they demonstrated the bank’s core values of enterprise, excellence and execution.

    “UBA is pleased to have you all on board as valuable ambassadors who will help us propagate our goodwill messages, ethos, values and what we stand for as a bank, across your institutions,” Nweke.

    According to him, UBA is a bank with strong affiliation to youths, evident in the Bank’s scholarship and grants schemes through the UBA Foundation National Essay Competition amongst other educational initiatives.

    He continued:  “We at UBA take youth development and engagement seriously. We believe they are the future of Nigeria. We think we can collaborate to build their creative and leadership skills.”

    Nweke said the students’ abilities were necessary considering the developmental challenges facing the country and the need for innovative leadership.

    “Life is tough. We need people in this country who can exhibit those qualities, beyond what we’ve done, these are people we have seen leadership traits in. We will work with them to develop their leadership traits, creativity for the good of everyone”.

    Also speaking, Mr. Tomiwa Sotiloye, Group Head, Retail & Consumer Banking, explained that five among the students were retained from the pioneer set of 15 Campus ambassadors who served last year.

    He said that the programme would feature trainings, project implementation/monitoring, and paid internships.

    “Starting from next session, it will be one year because we have now aligned the programme to the academic calendar – not from January- December, which gave us a lot of problems last year.

  • UBA promotes 2,000

    Pan-African financial institution, United Bank for Africa (UBA) Plc has promoted and elevated about 2000 members of its staff, representing about 17 per cent of the Group’s total workforce as reward for excellence and high performance.

    This is in recognition of the remarkable contribution made to the bank’s business growth, as highlighted by the impressive performance recorded in its 2017 financial year end results.

    About a year ago, UBA promoted 3,000 members of staff, representing 25 per cent of its workforce, while also doling out cash rewards to deserving staff for exemplary conduct and performance.

    This year’s promotion, as with others, has been commended by human resources analysts who have noted that UBA, which was mentioned in a recent survey as one of the “Best 100 Companies To Work For in Nigeria,” has become synonymous with rewarding excellence. The announcement has also been greeted with joy and enthusiasm by the workforce.

    The affected staff that cut across all units, divisions and 19 countries where UBA operates, were selected after the completion of an appraisal system that identified high performers in the bank, among other criteria.

    The Bank’s Group Managing Director/CEO, Mr. Kennedy Uzoka, in an email, described the promotion as ‘dividends of hardwork’,  adding that with the recent proclamation of UBA as the African Bank of 2017 by the Banker Magazine; as well as the ranking as Best of Bank of the Year in Cameroun, Congo Brazzaville,  Senegal and Tchad, it is only right to recognise, reward and celebrate the performance of the staff who have worked tirelessly to achieve this.

    Uzoka charged staff to continue to embody the bank’s core values in their endless quest for delivering excellent services to both internal and external customers of the Bank.

    He said: “I congratulate all for their well-deserved elevation.  I also wish to especially thank those colleagues who have not made it on this year’s list.  I implore you to keep up your contribution, as your efforts are recognised.  There are several other ways that we will continue to reward and recognise your contributions and we intend to use all opportunities to demponstrate this.”

  • UBA promotes 2,000

    Pan-African financial institution, United Bank for Africa (UBA) Plc has promoted and elevated about 2000 members of its staff, representing about 17 per cent of the Group’s total workforce as reward for excellence and high performance.

    This is in recognition of the remarkable contribution made to the bank’s business growth, as highlighted by the impressive performance recorded in its 2017 financial year end results.

    About a year ago, UBA promoted 3,000 members of staff, representing 25 per cent of its workforce, while also doling out cash rewards to deserving staff for exemplary conduct and performance.

    This year’s promotion, as with others, has been commended by human resources analysts who have noted that UBA, which was mentioned in a recent survey as one of the “Best 100 Companies To Work For in Nigeria,” has become synonymous with rewarding excellence. The announcement has also been greeted with joy and enthusiasm by the workforce.

    The affected staff that cut across all units, divisions and 19 countries where UBA operates, were selected after the completion of an appraisal system that identified high performers in the bank, among other criteria.

    The Bank’s Group Managing Director/CEO, Mr. Kennedy Uzoka, in an email, described the promotion as ‘dividends of hardwork’,  adding that with the recent proclamation of UBA as the African Bank of 2017 by the Banker Magazine; as well as the ranking as Best of Bank of the Year in Cameroun, Congo Brazzaville,  Senegal and Tchad, it is only right to recognise, reward and celebrate the performance of the staff who have worked tirelessly to achieve this.

    Uzoka charged staff to continue to embody the bank’s core values in their endless quest for delivering excellent services to both internal and external customers of the Bank.

    He said: “I congratulate all for their well-deserved elevation.  I also wish to especially thank those colleagues who have not made it on this year’s list.  I implore you to keep up your contribution, as your efforts are recognised.  There are several other ways that we will continue to reward and recognise your contributions and we intend to use all opportunities to demponstrate this.”

  • UBA grooms 30 campus ambassadors

    Thirty students from 10 universities nationwide left Lagos Sunday armed with skills to be change agents on campus courtesy of United Bank for Africa (UBA) Campus Ambassador Programme.

    They emerged from a pool of over 300 applications from students pan-Nigeria.

    They will spend the next six months learning and implementing projects that would showcase their leadership potential.

    Welcoming the students for their inaugural training at the UBA Headquarters Marina, Lagos last Friday, Chuks Nweke, Executive Director, Group Chief Operating Officer, told the students they were selected because they demonstrated the bank’s core values of enterprise, excellence and execution.

    “UBA is pleased to have you all on board as valuable ambassadors who will help us propagate our goodwill messages, ethos, values and what we stand for as a bank, across your institutions,” Nweke.

    According to him, UBA is a bank with strong affiliation to youths, evident in the Bank’s scholarship and grants schemes through the UBA Foundation National Essay Competition amongst other educational initiatives.

    He continued:  “We at UBA take youth development and engagement seriously. We believe they are the future of Nigeria. We think we can collaborate to build their creative and leadership skills.”

    Nweke said the students’ abilities were necessary considering the developmental challenges facing the country and the need for innovative leadership.

    “Life is tough. We need people in this country who can exhibit those qualities, beyond what we’ve done, these are people we have seen leadership traits in. We will work with them to develop their leadership traits, creativity for the good of everyone”.

    Also speaking, Mr. Tomiwa Sotiloye, Group Head, Retail & Consumer Banking, explained that five among the students were retained from the pioneer set of 15 Campus ambassadors who served last year.

    He said that the programme would feature trainings, project implementation/monitoring, and paid internships.

    “Starting from next session, it will be one year because we have now aligned the programme to the academic calendar – not from January- December, which gave us a lot of problems last year.

  • UBA London subsidiary gets regulatory approval

    United Bank for Africa (UBA Plc) on Tuesday announced that its London subsidiary has obtained regulatory permission to carry out wholesale banking services in the United Kingdom.

    The approval was granted to the lender by the Prudential Regulation Authority (PRA), a UK financial services regulatory body.

    The move makes UBA the only Sub-Saharan African bank to conduct banking activities in New York and London, as well as in 20 other countries across Africa.

    Speaking on the feat, the Group Managing Director/CEO, UBA Plc, Kennedy Uzoka said: “This authorisation strengthens our capabilities in meeting the growing cross-border financing needs of our customers. It enhances our customer coverage and product offerings whilst positioning our group as an optimal conduit for trade and foreign investments into and across Africa as well as export flows to the UK. Importantly, the licence will enable us to fulfill our aspiration of deepening financial intermediation in Sub-Saharan Africa and providing the much-needed financial support to the broader real sector of the African economy,” he added.

    Also speaking, the Chief Executive Officer of UBA (UK) Limited, Andrew Martin, noted further: “This enhanced positioning of our business is timely, as it comes at a time when the UK is seeking to expand trade and broaden economic ties with Nigeria and Africa in general.”

     

     

  • Uba hails govt, security agents

    Senator Andy Uba (Anambra South) yesterday commended the federal government and security agencies for their roles in the release of the Dapchi schoolgirls

    Uba, who is the Chairman, Senate Committee on Interior, said the release of over 100 schoolgirls, which was greeted by euphoria, was a testimony of a government that is committed to the safety of its citizens.

    Uba joined the rest of Nigerians to condole with the bereaved families who lost their daughters. He said on no account should any innocent soul anywhere in Nigeria be taken for whatsoever agitation.

    The senator urged the authorities concerned to leave no stone unturned in ensuring that the only girl left in captivity is released unhurt and be reunited with her family.

    He charged the security operatives to be more proactive in protecting the lives and property of Nigerians across the country. He added that speedy economic growth and overall development could only be possible in an environment where there is tranquility.

    “As I rejoice over the safe return of the over 100 schoolgirls, I am deeply pained over the deaths of the five, even as I’m more concerned about the one still being held in captivity. Our children shouldn’t be learning under the fear of being kidnapped by gunmen.” Uba said.

    He urged the Federal government and the security agencies to intensify more efforts towards the safe release of the remaining schoolgirl, Leah Sharibu and the Chibok schoolgirls who were been abducted in 2014.

  • UBA grows pre-tax profit to N105b in 2017

    • Declares N29b dividend

    United Bank for Africa (UBA) Plc recorded a well-rounded performance in 2017 with considerable growths in the top-line and the bottom-line. Profit before tax rose by 16 per cent to N105 billion in 2017, sustaining year-on-year growth that had seen UBA as one of the best performing stocks at the stock market.

    Key extracts of the audited report and accounts of UBA for the year ended December 31, 2017 released at the weekend at the Nigerian Stock Exchange (NSE) showed that gross earnings rose by 20 per cent while pre and post tax profits grew by 16 per cent and 8.8 per cent respectively.

    Market analysts praised what they described as positively surprising performance of the bank.

    “Given the strong set of results, we expect to see upward revisions to consensus 2018 estimated profit before tax forecast and a positive reaction from the market,” FBNQuest, the investment banking arm of FBN Holdings, stated in its first reaction to the UBA results.

    “Overall, we find UBA’s performance fair, as key line items – particularly the gross earnings and profit after tax – showed time-relative improvements, and broadly in line with expectations,” Cordros Capital stated.

    The report showed significant growth in the contribution and market share from UBA’s pan-African subsidiaries. Gross earnings rose to N462 billion in 2017 as against N314 billion recorded in 2016. Profit before tax increased from N90.6 billion to N105 billion while profit after tax rose from N72.3 billion in 2016 to N78.6 billion in 2017.

    The bank’s subsidiaries outside Nigeria contributed a third of the group’s top-line and 45 per cent of the profit for the year, a remarkable improvement from 31 per cent contribution made by the ex-Nigeria offices in 2016. This, according to market analysts affirms the success of the bank’s expansion strategy, with target of 50 per cent contributions by 2020.

    The bank’s operating Income grew to N326.6 billion, a 20.6 per cent increase compared to N270.9 billion recorded in 2016. This, according to analysts, affirms the capacity of the group to deliver strong performance through varying economic cycles and challenging business environment.

    The report also showed that the bank’s total assets peaked at N4.07 trillion in 2017, 16.1 per cent increase on N3.50 trillion recorded in 2016. Net loans rose by 9.7 per cent growth at N1.65 trillion, while the customer deposits grew to N2.73 trillion, representing 10 per cent increase on N2.49 trillion recorded in 2016. The bank’s shareholders’ fund also increased by 18.2 per cent to N529.4 billion in 2017.

    The board of the bank has recommended payment of N29.1 billion as cash dividend for the 2017 business year, representing a dividend per share of 85 kobo. Shareholders will receive a final dividend per share of 65 kobo in addition to interim dividend of 20 kobo earlier paid after the first-half results.

    Group Managing Director, United Bank for Africa (UBA) Plc, Mr. Kennedy Uzoka, said the results underlined the success of the bank’s strategy of expanding across Africa, diversifying revenues and capturing the broader business opportunities inherent in Africa’s growth.

    “The results reinforce the sustainability of our business model and the capacity to deliver superior long-term return to shareholders, as the economic and business environment improve,” Uzoka said.

    According to him, in 2017, the bank made strong progress in its strategic initiative of dominating transaction banking across all its countries of operation, gaining market share in all lines of its business.

    He noted that while the non-oil sectors of its largest country of operation, Nigeria, remained relatively weak, the group still grew earnings by 20 per cent to N462 billion, a third of which is attributable to non-funded income.

    Group Chief Finance Officer(GCFO), United Bank for Africa (UBA) Plc, Ugo Nwaghodoh noted that the bank, in a period of high interest rates, achieved a relatively low 3.7 per cent  cost of funds, which reflects the benefit of its rich pool of stable savings and current account deposits.

    “Our core transaction banking offerings gained strong momentum, with income from these business lines growing by double digits. We remain committed to our responsible approach to balance sheet management, with focus on growing risk asset and broader balance sheet in a profitable and prudent manner,” Nwaghodoh said.

    According to the GCFO, amidst a subdued Nigerian credit market, the bank grew its loan portfolio by 10 per cent, leveraging its robust liquidity and capitalisation to support good businesses while it closed the year with a Basel II capital adequacy ratio of 19 per cent and a liquidity ratio of 50 per cent, well ahead of 15 per cent and 30 per cent regulatory requirement respectively.

    “Our disciplined approach to lending and broader risk management continues to uphold our asset quality,” Nwaghodoh said.

  • UBA, AFD sign deal on SMEs financing

    United Bank for Africa (UBA) Plc and Agence Française de Development (AFD), France’s public and solidarity-based development bank have signed an agreement to use the EURIZ and ARIZ schemes offered by AFD to facilitate the financing of small and medium enterprises (SMEs) and startups across  20 African countries where UBA operates.

    The new partnership, an off-shoot of the strategic relationship both institutions, have had over the years, will enhance UBA’s capacity to finance SMEs in Nigeria and across the other 19 African countries where the bank  operates, while ensuring AFD uses the financial structure availed by UBA to reach out to many SMEs across Africa.

    The AFD’s EURIZ project helps the financially underserved Micro, Small and Medium Enterprises (MSMEs) to receive loans for business development and sustainable jobs.

    AFD designed ARIZ risk-sharing facility as one of the financial tools to give SMEs easier access to financing from financial institutions. In the same vein, ARIZ helps financial institutions to deal with their SME risk, thereby help them develop their loans for micro-enterprises, SMEs and microfinance institutions (MFIs).

    “Our partnership with Agence Française de Development(AFD) is novel as the scheme being introduced will enable us reach the various markets in our presence countries and would empower the SMEs across Africa through the provision of financial access, critical to their survival,” Kennedy Uzoka, Group Managing Director/CEO, UBA Plc, said.

    “With this partnership, we will be able to derive value from a world-class financial institution which we believe is critical in growing wealth on the continent in the long-term,” Uzoka added.

    Also, Mrs Cecile Couprie, Deputy Director, Sub-Saharan Africa, AFD, said: “It is an honour for us at AFD to work with UBA to promote the development of African countries. Working with UBA will assist us to contribute to  improving the economic and social conditions in Africa of which the growth of SMEs is essential.”

     

     

    Both Parties recognize the core role of the private sector in the economic development of Africa and the need to support African entrepreneurship as the catalyst to creating jobs and fighting against poverty on the continent.

  • China Devt Bank, UBA sign $100m loan for SMEs in Africa

    China Devt Bank, UBA sign $100m loan for SMEs in Africa

    United Bank for Africa (UBA) and China Development Bank (CDB), the world’s largest development finance institution, has announced the signing of a $100 million seven-year loan agreement to finance the development of small and medium enterprises (SMEs) in Africa.

    The $100 million loan will enhance UBA’s capacity to provide access to finance to small and medium enterprises (SMEs) across the 19 African countries where UBA currently operates.

    “We are excited to partner with China Development Bank (CDB), the Development Financial Institution of the Chinese Government, on this historic transaction, as we strongly believe that the facility will serve as a catalyst to the sustainable development of commerce and industry in Africa through provision of critical financial interventions to SMEs across our presence countries,” says Group Managing Director/CEO, UBA Plc, Mr. Kennedy Uzoka.

    Uzoka noted that this line of credit is timely, as it should complement the recovery of economic activities. It will also further encourage African entrepreneurship particularly as the funds will be applied to SMEs, which are important for inclusive growth on the continent.

    Speaking during the signing ceremony, Chairman of UBA Plc, Mr. Tony Elumelu said that the fund will boost small and medium scale enterprises across Africa, noting that CDB’s interest in supporting SMEs aligns with UBA’s vision in growing business across Africa.

    “In UBA, CDB would have an enduring partner in reaching out to Africans as UBA provides banking services to over 14 million people across 20 African countries, and like CDB, UBA funds critical infrastructural projects on the continent “  Elumelu said. He expressed that he would like to see an even stronger relationship grow with CDB and UBA as well as with China and Nigeria.

    Also commenting, the President of CDB, Mr. Zheng Zhijie, said the agreement is the beginning of cooperation between UBA and CDB that would translate into an enduring business relationship between China and Africa and Nigeria in particular.

    “UBA is a leading and dependable bank not only in Nigeria but Africa, and this partnership will help our Bank to accelerate its business objectives in Africa, more importantly as we deepen our investment in energy, road and rail constructions, infrastructure in Africa,” Zhije said

  • UBA, Access Bank join NSE’s premium board

    UBA, Access Bank join NSE’s premium board

    Authorities at the Nigerian Stock Exchange (NSE) have approved the migration of leading commercial banks-United Bank for Africa (UBA) Plc and Access Bank Plc to the Exchange’s premium board. The migration of the two banks will increase the number of companies on the top-rated board to six.

    A regulatory report at the weekend indicated that the NSE had approved the migration of UBA and Access Bank from the main board to the premium board, which was designed as a market for the most capitalised stocks with the best corporate governance and liquidity. The premium board was meant to showcase Nigeria’s best stocks to the global market.

    The Nation had earlier reported the approval for the migration of Lafarge Africa Plc to the premium board. There are currently three companies listed on the NSE’s premium board including Dangote Cement, FBN Holdings and Zenith Bank International.

    The Exchange had indicated that the premium board is aimed at providing a platform for greater global visibility for eligible Nigerian entities, which will make it easier for them to attract global capital flows and reduce the cost of borrowing.