Key
extracts of the interim report and accounts of UBA for the first quarter ended
March 31, 2018 showed that gross earnings rose by 18 per cent to N119.4 billion
in first quarter 2018 compared with N101.25 billion recorded in corresponding
period of 2017. Profit before tax rose to N26.6 billion in first quarter 2018
as against N25.5 billion posted in first quarter 2017. Profit after tax stood
at N23.7 billion in first quarter 2018 compared with N22.4 billion recorded in
corresponding period of 2017. http://www.tectono-business.com/2015/07/tectono-business-review-in-conjunction_21.html
The group sustained its strong profitability with an annualized 18 per cent
Return on Average Equity (RoAE).
Group
Managing Director, United Bank for Africa (UBA) Plc, Mr. Kennedy Uzoka, said the first quarter was impressive given the
intensifying competition and moderation in yield environment in Nigeria and
Ghana.
According
to him, the first quarter result is a good start to the year and a reflection
of the bank’s capacity to sustainably grow earnings over the medium to long
term. “We recorded 18 per cent growth in gross
earnings, as both interest and non-interest income grew 18 per cent and 19 per
cent respectively. Notwithstanding the moderation in sovereign yield in Nigeria
and Ghana, we achieved a 60 basis points improvement in net interest margin to
7.6 per cent, as we extract efficiency gains from balance sheet management,” Uzoka
said. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
He
noted that the eight per cent growth in retail deposit during the three month
period was a reflection of the benefit of improved customer service and continued
customer acquisition. “We are committed to exceeding
our 2018 deposit growth target in the year, with strategic focus on retail, low
cost savings and current accounts, which is critical to sustaining our net interest
margin uptrend,” Uzoka said.
He
expressed optimism on the steady recovery of the Nigerian economy and improving
fundamentals of most African countries, where the bank operates. http://www.tectono-business.com/2015/07/tectono-business-review-in-conjunction_21.html
He pointed out the increasing relevance of the group’s African operations to
its bottom line, adding that the bank is increasingly becoming systemically
important across the 19 other African countries, where it operates. “Barring unforeseen circumstances, we look forward to
sustaining this strong performance through the year, with the primary objective
of delivering superior return to our shareholders,” Uzoka said. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
Group
Chief Financial Officer, United Bank for Africa (UBA) Plc, Ugo Nwaghodoh, said the management is committed to delivering on
the group’s financial goals for the year.
“We are diligently executing our priorities for the year, as we
focus on profitable growth. We are making strong progress in Nigeria, where our
continuous market share gain is translating into higher profit. I am pleased
that our drive towards optimal scale across our subsidiary operations is
progressing well. More importantly, the contribution of these foreign
operations to the group’s profit is impressively reflective of geographic
diversification,” he
said.
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Have you heard this? Many
Nigerian exporters have been defrauded of huge amount of money in the process
of exporting commodities to foreign countries. Do you know why? They were not
trained on export operations, management, documentations and the best methods
of payment in export trade. This is terrible!!! Nigerians cannot continue to
lose money to foreigners in the course of export business. Exporters, why don’t
you get a practical manual that teaches the stages of export trade from
processing and packaging of commodities to receipt of payment by the foreign
buyers. It teaches export operations, export management, export documentations
and methods of payment in export trade? It is a contemporary step-by-step guide
to export trade. It tells all the contemporary dynamics in export trade. To get
it, click on the link below:
http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
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