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
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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