l-r: Group Managing Director/CEO, Mr. Kennedy Uzoka and Group Chairman, Mr. Tony Elumelu, at the 59th Annual General Meeting of United Bank for Africa(UBA) Plc, held in Lagos on Thursday
The Chairman of pan-African financial institution, United Bank for Africa (UBA) Plc, Tony Elumelu, has assured shareholders and investors of higher returns, stating that the bank has established a diversified business model that ensures impressive performance even in periods of uncertainty, across its geographical network.
The Group Chairman, who gave this assurance to shareholders at the bank’s 59th Annual General Meeting at the UBA Head Office, on Thursday April 1, 2021, explained that the bank has made strategic decisions that will strengthen its resolve to earn the industry leadership that it has envisioned in Nigeria, Africa and globally.
At the end of the 2020 financial year, UBA’s profits grew remarkably by 27.7 percent to N113.8 billion, compared to N89.1 billion recorded at the end of the 2019 financial year, whilst profit before tax was impressive at N131.9 billion, compared to N111.3 billion at the end of the 2019 financial year.
Gross earnings grew by 10.8 percent to N620.4 billion, compared to N559.8 billion recorded in the same period of 2019 whilst total assets also grew by 5.6 percent to an unprecedented N7.7 trillion for the year under review.
In its usual tradition of rewarding shareholders, the bank proposed a final dividend of N0.35 kobo for every ordinary share of 50 kobo, bringing the total dividend for the year to N0.52 kobo as the bank had paid an interim dividend of N0.17 kobo earlier in the year.
l-r: Group Managing Director/CEO, Mr. Kennedy Uzoka and Group Chairman, Mr. Tony Elumelu, at the 59th Annual General Meeting of United Bank for Africa(UBA) Plc, held in Lagos on Thursdayl-r: Group Managing Director/CEO, Mr. Kennedy Uzoka; Group Chairman, Mr. Tony Elumelu; and Group Company Secretary, Bili Odum, at the 59th Annual General Meeting of United Bank for Africa(UBA) Plc, held in Lagos on Thursdayl-r: Deputy Managing Director, Nigeria, Mr. Ayoku Liadi; Group Managing Director/CEO, Mr. Kennedy Uzoka; Group Chairman, Mr. Tony Elumelu; and Deputy Managing Director, Africa, Mr. Oliver Alawuba; at the 59th Annual General Meeting of United Bank for Africa(UBA) Plc, held in Lagos on Thursdayl-r: Deputy Managing Director, Nigeria, Mr. Ayoku Liadi; Group Managing Director/CEO, Mr. Kennedy Uzoka; Group Chairman, Mr. Tony Elumelu; and Deputy Managing Director, Africa, Mr. Oliver Alawuba; at the 59th Annual General Meeting of United Bank for Africa(UBA) Plc, held in Lagos on Thursdayl-r: Deputy Managing Director, Nigeria, Mr. Ayoku Liadi; Non-Executive Directors – Mrs Onari Duke and Hajiya Aisha Hassan Baba; Group Managing Director/CEO, Mr. Kennedy Uzoka; Group Chairman, Mr. Tony Elumelu; Non-Executive Directors – Erelu Angela Adebayo and Mrs Angela Aneke; and Deputy Managing Director, Africa, Mr. Oliver Alawuba; at the 59th Annual General Meeting of United Bank for Africa(UBA) Plc, held in Lagos on Thursdayl-r: Group Managing Director/CEO, Mr. Kennedy Uzoka; Group Chairman, Mr. Tony Elumelu; and Group Company Secretary, Bili Odum, at the 59th Annual General Meeting of United Bank for Africa(UBA) Plc, held in Lagos on Thursdayl-r: Group Managing Director/CEO, United Bank for Africa(UBA) Plc, Mr. Kennedy Uzoka and Group Chairman, UBA Mr. Tony Elumelu, at the 59th Annual General Meeting of United Bank for Africa(UBA) Plc, held in Lagos on Thursday
Oluwatomi Otuyemi, a Geology graduate from Crawford University, has 5 years experience in corporate corporate communications. He has a passion for storytelling, and investigative reporting.
