Pan-African financial institution, United Bank for Africa (UBA) Plc, has
once again proven its leadership on the continent, as The Banker
magazine has crowned the bank ‘African Bank of the Year 2017’.
The
award was a first for Nigeria as it marked the first time a
Nigerian-headquartered bank will beat other contenders to 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.
A statement from the
bank Thursday said 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.
UBA Gabon and UBA Senegal won the same awards in 2016,
as both subsidiaries of the UBA Group remained the banks to beat in the
respective countries, the statement added. A publication of the
London-based Financial Times newspaper, The Banker magazine, is a global
financial intelligence magazine that provides global bank
ratings/analysis and 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
magazine noted that Africa’s economic landscape has been unpredictable
in recent times, resulting in recessions in some of Africa’s best
performing economies while the region as a whole only expanded by about
1.3 per cent 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
N384 billion ($1.07 billion), signalling a 22 per cent growth from its
2015 performance while profit before tax also grew by 32 per cent, to
reach N91 billion.
According to the organisers, “Equally
impressive was UBA’s capital adequacy ratio which at the end of 2016
stood at 20 per cent while its non-performing loan ratio was a healthy
3.9 per cent. 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 financing a new stadium in Douala, Cameroon for the 2019 Africa
Cup of Nations for $285 million.
“In Senegal, more than $250 million
of trade finance was provided to the state oil company while the lender
acted as arranger and bank agent in the raising of $160 million to
finance road infrastructure. “The bank’s digital tax collection solutions are also helping regional governments in Senegal and Burkina Faso.”
The
organisers observed that UBA also made impressive strides in the
digital space, adding that in terms of internet banking, the
organisation processed seven million transactions valued at more than
N600 billion in 2016.
Mobile banking processed transactions
valued at N70 billion over the same period. UBA 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.
According
to the statement, the Group Managing Director/CEO of UBA Plc, Mr.
Kennedy Uzoka, who was delighted by the recognition from The Banker,
said: “These awards mark another milestone for the UBA Group and are a
testament of the diligent execution of the bank’s strategic initiatives
on customer service.
“Being recognised 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 democratising 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.”
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 was increasingly being recognised. 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 awards
“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.
UBA was
incorporated in Nigeria as a limited liability company after taking over
the assets of the British and French Bank Limited, which had been
operating in Nigeria since 1949. UBA merged with Standard Trust Bank
in 2005 and from a single country operation founded in 1949 in Nigeria –
Africa’s largest economy – the bank 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 (IPO), following its
listing on the NSE in1970. It was also the first Nigerian bank to issue
global depository receipts (GDR). The shares of UBA are publicly
traded on the Nigerian Stock Exchange (NSE) and the bank has a
well-diversified shareholder base, which includes foreign and local
institutional investors, as well as individual shareholders.
United Bank For Africa, UBA Emerges First Nigerian Bank To Win African Bank Of The Year Award
Reviewed by Exlink Lodge
on
Friday, December 01, 2017
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