Goddy Egene
Shareholders of United Bank for Africa
(UBA) Plc on Monday hailed the board and management of the bank for the
impressive performance recorded in 2017 and were highly pleased with the
remarkable contributions of its African subsidiaries that accounted for
over 45 percent of the group’s income.
The shareholders gave the commendation
at the 56th annual general meeting in Lagos. UBA posted profit after tax
(PAT) of N78.6 billion for the 2017 financial year and recommended a
total dividend of 85 kobo per share, which ratified at the AGM. Speaking
at the meeting, the Chairman, Progressive Shareholders Association of
Nigeria, Mr. Boniface Okezie: “I want to especially commend the
management of UBA especially the Chairman, Tony Elumelu and Group
Managing
Director/CEO, Kennedy Uzoka, who
have been managing activities of this great institution for the past two
years. We, the shareholders are impressed with results that you have
recorded so far and the achievements that the bank has recorded under
your leadership, especially the sterling contributions of our
subsidiaries in Africa. We are especially impressed with what the bank
has been doing in Africa. It has gone a long way to show that good
things can come from Africa. UBA has showcased a high level of ingenuity
in the banking space, and we are glad for how this is translating into
gains for our business.”
Another shareholder, Mr. Timothy
Adesiyan, commended the bank for being the first bank in Africa to
embrace Artificial Intelligence technology into the banking space,
through the introduction of UBA’s Leo. Also, speaking at the meeting,
Nonah Awoh, who commended the bank for the performance, equally tasked
the management to do more to ensure that all the African subsidiaries
contribute at least 50 per cent to the bottom-line.
In his address to shareholders, Elumelu, said the bank recorded strong growth in both top and bottom lines in 2017.
He said: “Overall, our bank grew profit before tax by 16.1 per cent to N105.3 billion. More importantly, the bank remains financially strong, our balance sheet is well protected and our commitment to exceeding regulatory requirements remains. We recently opened for operations in Mali, because that economy is a viable one and would contribute to our bottom-line. Mali will benefit from UBA’s presence there while UBA will also benefit from Mali.”
He said: “Overall, our bank grew profit before tax by 16.1 per cent to N105.3 billion. More importantly, the bank remains financially strong, our balance sheet is well protected and our commitment to exceeding regulatory requirements remains. We recently opened for operations in Mali, because that economy is a viable one and would contribute to our bottom-line. Mali will benefit from UBA’s presence there while UBA will also benefit from Mali.”
On his part, Uzoka said: “UBA has built a
great brand that is recognised all over the world, and because of this,
we have decided to be outside-focused rather than inside-focused. Being
outside focused means we are concentrating on putting our customers
first in all we do by making sure that we do things from the customers’
standpoint.”
No comments :
Post a Comment