Former
British Broadcasting Corporation(BBC) correspondent, Mr. Michael Buerk;
Chief Executive, UBA Capital(Europe) Limited, representing UBA Group,
Mr. Andrew Martin; and Editor, Middle East and Africa, The Banker. Mr.
James King, during The Banker Awards 2017, organised by The Banker
Magazine, a publication of Financial Times(FT), where UBA Group coveted
five awards, including the prestigious ‘African Bank of the Year 2017’,
at a ceremony in London on Wednesday
Lagos; Nigeria; 30 -11– 2017;
Pan-African financial institution, United Bank for Africa (UBA) Plc has
once again proven its leadership on the continent, as the Banker
Magazine crowned UBA the “African Bank of the Year 2017”. This Banker
Award is premier for Nigeria, as it marks the first time a
Nigerian-headquartered bank will be wining the prestigious and highly
coveted regional award.
To
further demonstrate the group’s strength and ...dominance in the financial
sector on the continent, four of UBA Group’s operations in Africa also
led contenders in their respective countries to emerge the Best Bank of
the Year 2017 in their respective markets. UBA Congo, UBA Tchad, UBA
Gabon and UBA Senegal emerged the Best Bank of the Year in Congo, Tchad,
Gabon and Senegal, reinforcing the strong franchise of the Group across
its chosen markets in Africa. Notably, UBA Gabon and UBA Senegal won
the same awards in 2016, as both subsidiaries of UBA Group remain the
Banks to beat in Gabon and Senegal.
A
publication of the Financial Times Newspaper, The Banker Magazine is a
global financial intelligence magazine that provides global bank
ratings/analysis and it is the definitive reference in international
banking for high level decision makers globally. According to the
magazine, the aim of the award “is to highlight industry wide excellence
within the global banking community. The winner is selected from
participating banks in each of the 120 countries from which entries are
received for the competition.”
Explaining
the rationale behind UBA carting multiple categories in its December
issue, the Banker’s Magazine noted that Africa’s economic landscape has
been unpredictable in recent times which resulted in recession in some
of Africa’s best performing economies, while the region as a whole only
expanded by about 1.3% in 2016. “In these conditions only the most
diversified and innovative of regional banks can prosper. And this is
precisely why the United Bank for Africa (UBA) has scooped the 2017
regional winner award. For one, the lender registered impressive top-
and bottom-line growth over the review period,” it noted.
The
magazine went further to enumerate the various achievements recorded by
UBA group during the period, noting that earnings for the year reached
N384bn ($1.07bn) signalling 22% growth from its 2015 performance while
profit before tax also grew, by 32%, to reach N91bn. According to the
organisers, “Equally impressive is UBA’s capital adequacy ratio which,
at the end of 2016, stood at 20%, while its nonperforming loan ratio was
a healthy 3.9%. Operating across 19 markets in Africa, the bank serves
more than 14 million customers.”
It
added that the Pan-African bank’s foray into various ventures in Africa
also helped to clinch its activities in the year under consideration,
stating, “Beyond the numbers, the bank has won and acted on a number of
headline deals. These include the financing a new stadium in Douala,
Cameroon, for the 2019 Africa Cup of Nations for $285m. In Senegal, more
than $250m of trade finance was provided to the state oil company,
while the lender acted as arranger and bank agent in the raising of
$160m to finance road infrastructure. The bank’s digital tax collection
solutions are also helping regional governments in Senegal and Burkina
Faso.”
The
organisers noted that UBA is making impressive strides in the digital
space, adding that in terms of internet banking, the organisation
processed 7 million transactions valued at more than N600bn in 2016.
Mobile banking processed transactions valued at N70bn over the same
period. UBA has also launched eMailMoni, a service that lets customers
transfer funds via e-mail, while Chat Banking allows clients to perform
basic transactions through social media platforms. “For these reasons,
and others, UBA is the winner of our 2017 African Bank of the Year
award,” the Magazine stated.
The
Group Managing Director/Chief Executive Officer, UBA Plc, Mr. Kennedy
Uzoka, who was delighted by the recognition from The Bankers said;
“These awards mark another milestone for UBA Group and is a testament of
the diligent execution of the bank’s strategic initiatives on customer
service. Being recognized as Africa’s best bank complements positive
feedback from customers and is a recognition of our improving
efficiencies, service quality and innovation. I therefore dedicate it to
our growing loyal corporate and retail customers, who are our essence.
Given our heritage commitment to Africa’s development, we continue to
impact lives through our service as well as funding to individuals,
businesses and government.”
Uzoka
added; “The bank remains focused on its goal of democratizing banking
in Africa, leveraging on new technologies and our rich pool of talent.
It is satisfying that our efforts towards leadership are yielding great
results. We continue to gain market share across our chosen markets, as
we deepen financial inclusion, meeting basic and complex financial
service needs of the growing African population. We are Africans and
determined to change the narrative of financial services in Africa and
this is just the beginning,” he noted.
On
his part, Mr. Emeke Iweriebor, Regional CEO, UBA Francophone Africa,
described the awards as exciting, stating that the bank’s great work in
Africa is increasingly being recognized.
Iweriebor
who dedicated the awards to the bank’s esteemed customers, said “Our
pioneering innovations in the African banking sector are undoubtedly
critical to the growth and development of the continent. Africa’s
banking sector has come a long way but we still have a lot to do. We at
UBA Group are dedicated to being a critical part of this
transformation.”
He
added that the bank will continue to leverage its local knowledge,
global exposure as well as presence to drive positive change in Africa,
working actively with the government, local businesses, regulators and
other stakeholders in deepening financial services.
The
Banker award’s “Bank of the Year Awards” are widely regarded as the
Oscars of the Banking Industry. For 90 years, The Banker has been the
world’s leading monthly journal of record for the banking industry. The
organisers note that the aim of the awards programme is to highlight
industry wide excellence within the global banking community.
The
Banker selects one winning bank for each of the 120 countries that are
covered. Over 1,000 applications are entered and judges select winning
banks based on the ones that have made most progress over the past 12
months.
UBA
was incorporated in Nigeria as a limited liability company after taking
over the assets of the British and French Bank Limited who had been
operating in Nigeria since 1949. The United Bank for Africa (UBA) Plc
merged with Standard Trust Bank in 2005 and from a single country
operation founded in 1949 in Nigeria – Africa’s largest economy – UBA
has become one of the leading providers of banking and other financial
services on the African continent. The Bank provides services to over 14
million customers globally, through one of the most diverse service
channels in sub-Saharan Africa, with over 1,000 branches and customer
touch points and robust online and mobile banking platforms.
UBA
was the first Nigerian bank to make an Initial Public Offering,
following its listing on the NSE in1970. It was also the first Nigerian
bank to issue Global Depository Receipts. The shares of UBA are publicly
traded on the Nigerian Stock Exchange and the Bank has a
well-diversified shareholder base, which includes foreign and local
institutional investors, as well as individual shareholders.
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