United Bank for Africa (UBA) Plc has assured shareholders and investors of its unwavering commitment to sustaining its current growth trajectory.
The group chairman Tony Elumelu, who made this declaration at UBA’s 60th annual general meeting, which was held at the Transcorp Hilton Hotel, Abuja on Thursday, noted that the bank’s strategic investment decisions over the past few years have indeed translated to huge returns for its investors, despite the challenging business environment witnessed in the last two years.
“I am proud of how as a group, we have been able to further consolidate on the new capabilities we have built, novel customer solutions we have deployed, efficiency gains recorded and the growth prospects we have leveraged from a recovering world,” Elumelu stated.
“These were the building blocks for the very strong financial performance and the growth delivered by your group in 2021, further confirming the wisdom of the investments we made and the strategy we have pursued, to ensure the diversification and sustainability of our business model.”
UBA’s group managing director/chief executive officer, Kennedy Uzoka, who went into detail about the improved performance of the bank’s subsidiaries in the financial year under consideration, said, “We are happy that the global community recognises the role our group is playing in the transformation of the African economic landscape through innovative and customer-focused banking services.”
He pointed out that the bank’s business in the United Kingdom had specifically witnessed remarkable expansion, adding “As from July 2021, UBA UK started making profit, and even to date, they are still doing well, and the same can be said for many of our African subsidiaries. The truth is that we are driven by the opportunities and potential in each of the geographies that we invested in, and we are happy with what we have achieved so far.”
Shareholders who spoke at the meeting including Sunny Nwosu, Farouk Umar, Nonah Awoh, Patrick Ajuda, Bisi Bakare and Timothy Adesiyan, were unanimous in their commendation of the board and management of UBA.
