The United Bank for Africa (UBA) has reassured its shareholders of its goal to meet and surpass expectations.
This was stated by the bank’s Managing Director/Chief Executive Officer, Kennedy Uzoka, at UBA’s 59th Annual General Meeting for the 2020 fiscal year.
Uzoka stated that the bank had set aside funds that prepared it for “unforeseen challenges”.
That was a reference to the COVID-19 pandemic that caused businesses to shutter, and restrictions imposed on movements.
Uzoka added that UBA had modified its business structure, propping it with the “necessary leadership” to lead it to its goal.
He said, “As an institution that has been in operations for 72 uninterrupted years, UBA wants to continue to perform optimally.
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“In line with this, we have used most of our funds to prepare for unforeseen challenges.
“Given the trajectory and the resilience of our business, we can assure you that we will meet and surpass the expectations of our shareholders.
“We have recalibrated our business structure, starting from Lagos and extending to the South-South.
“We have bolstered them with the necessary leadership to achieve our aim. We believe that with these measures we have put in place, our Nigerian business will give the rest of Africa a good fight.”
On other improvements made by the bank, UBA’s Chairman, Tony Elumelu, said that the bank “spearheaded strategic investments in our digital banking and technology platforms to further promote self-service banking; we have also focused on enhancing the capabilities of our people through various online capacity development programmes.
“Our African operations (ex-Nigeria) have contributed approximately 55 per cent of our profits for the year, illustrating that we are truly a pan-African bank.
“The work we have done in strengthening our governance structures group-wide and in improving our business and operating models in 2020 positions our bank to benefit from these recovery trends and to achieve significant market share gains across our operations.”
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