Advertisement

nTel

UBA: Outperforming

United Bank for Africa (UBA) Plc is on the top list of companies with well-rounded performance. UBA’s top-of-the-chart performance at the stock market combines with considerable growth in all key fundamental indicators to make the bank the best performing banking stock in recent period. Capital Market Editor Taofik Salako, in this report, reviews the interplay of fundamental earnings and share price appreciation United Bank for Africa (UBA) Plc outperformed all… Continue Reading

UBA Reinforces Its Customer Focus, Honours Staff Integrity

The United Bank for Africa Plc (UBA) once again demonstrated its commitment to excellence in customer service, by celebrating staff who have strived to implement the Bank’s core values of Enterprise, Excellence and Execution. At the event held at the Eko Hotel Expo Centre, Lagos, Nigeria, UBA gathered customers, captains of industry, dignitaries from politics and diplomacy, staff and Board members from its 19 African country network, to witness the… Continue Reading

UBA Grows Profit Before Tax By 32%, Declares Final Dividend per Share of 55kobo

United Bank for Africa (UBA) Plc, the pan-African financial services group, operating in 19 African countries, has released its audited 2016 full year results, showing significant growth in gross earnings and profits, an attestation to its resilience, enhanced productivity and geographic diversification, evident in the impressive contribution from its African subsidiaries. The Group recorded an impressive 22 percent growth in gross earnings to N384 billion, as at December 2016, from… Continue Reading

HOW BANKS MAY SABOTAGE CBN FOREX POLICY

As many people are now saying “happy days” are here with the recent policy of the Central Bank of Nigeria to ease the hardship occasioned by the high exchange rate of the dollar to the naira as the Apex bank is planning to sell 1million dollars weekly to each of the country’s 21 commercial banks at a rate of N375 to a dollar to clear the backlog. However many analysts… Continue Reading

GTBank Wins Multiple Awards at the 2017 CBN EPIS Efficiency Awards …………Wins 6 awards for 2nd year running

In what can be categorized as a really great moment, foremost financial institution, Guaranty Trust Bank plc, has reaffirmed its position as Nigeria’s leading financial institution on e-payments with its emergence as a multiple award winner during the 2017 Electronic Payment Incentive Scheme (EPIS) awards organised by the Central Bank of Nigeria (CBN) and the Nigeria Inter-bank Settlement System (NIBSS). With six awards, GTBank took home half of the dozen… Continue Reading

Winner of GTBank Porsche 911 Giveaway Draw Opts For Cash Equivalent Lagos Nigeria

The winner of the Porsche 911 Giveaway Draw organised by leading African Financial Institution, Guaranty Trust Bank plc, has opted for the cash equivalent of his Porsche 911 Carrera reward. Abdulkareem Buhari, a 30-year old trader in Kaduna, was announced as winner of the GTBank Porsche 911 Giveaway Draw after a raffle draw held on Wednesday, December 15, 2016 at the Corporate Head Office of the Bank. Following his preference… Continue Reading

GTBank Gets TripleHonors at Euromoney Private Banking Awards…….. Ranked Best Private Bank in Nigeria

Foremost African financial institution; Guaranty Trust Bank plc, reaffirmed its positionas a leading global brand with its recent recognition as the ‘Best Private BankingServices, Best Commercial Banking Capabilities & Best Net-worth SpecificServices in Africa’ during the 2017 Euromoney Private Banking Awards which heldon Wednesday, February 22, 2017 at the Plaisterer’s Hall in the City of London. Now in its 14th year, the Euromoney Private Banking and Wealth ManagementSurvey is the… Continue Reading

N4.2bn Transaction: Keystone Bank denies owing ITF N23.5 million

Keystone Bank Limited has refuted allegation by Industrial Training Fund (ITF) and the House of Representatives Public Accounts Committee (PAC) that it is owing the agency N23.5 got million being an accrued interest sum from a N4.2 billion transaction. The Deputy Chairman of the Public Accounts committee, Rep Ibrahim Baba (APC, Bauchi) and ITF’s Director-General, Joseph Ari had accused Keystone Bank of moving money thrice from ITF’s account domiciled in… Continue Reading

UBA Strengthens Brand Afiliation on Nigerian Campuses , Unveils 15 Ambassadors

The United Bank for Africa (UBA) Plc Friday launched the maiden edition of its Campus Ambassador Programme with the induction of the first 15 brand ambassadors. The UBA Campus Ambassador Programme is an initiative to identify young emerging leaders among students of tertiary institutions and give them a unique and highly rewarding learning experience. The 15 successful candidates were selected from among 200 students across tertiary institutions in Nigeria through… Continue Reading

Massive withdrawal hits banks…as depositors withdraw to finance MMM

Just as many Nigerians are trooping in their millions into the MMM scheme and making millionsof Naira every day, others who are not already into MMM have joined other money-spinning Ponzi schemes like Winthrills ,Ultimate Cycler, Givers Forum,Crowd Rising and many others; but the negative effect of this fast money-making schemes is now being felt by all the Nigerian banks and they are now very jittery because the schemes may… Continue Reading

RECESSION : BANKS TO SACK THOUSANDS!!!

The die is cast. The reality sets in.There is tension in the land.The largest economy in Africa is in deep recession and the attendant effects of the development on various sectors of the economy is beginning to hit home as the banking industry -one of the biggest sub-sectors in the country – is set to embark on a massive and unprecedented retrenchment of its workers. Global News can now authoritatively… Continue Reading

: AfDB and United Bank for Africa Plc sign US$ 150 million Line of Credit

The African Development Bank Group (AfDB) and United Bank for Africa Plc (UBA) on Wednesday November 30, 2016, signed a US$ 150 million loan agreement to finance infrastructure and SME projects, including women-owned enterprises in Nigeria. “The Fund will support development of productive sectors of the economy; particularly the power sector, Infrastructure, Women owned enterprises as well as SMEs. This line of credit comes at an opportune time and would… Continue Reading

UBA CFO, Finance Team Shine at CFO Awards

Pan-African financial services group, United Bank for Africa Plc repeated the outstanding feat, it recorded last year at the 2nd edition of Nigeria CFO awards, with a notch higher when its Group Chief Finance Officer (Group CFO) and the Finance Team bagged the treble at the awards night held on November 19, 2016 at Oriental Hotel, Lekki Lagos. The bank won the following awards; CFO of the Year; Financial Innovation… Continue Reading

UBA Wins best CSR Company in West Africa

Pan African banking Group, UBA has emerged the best institution in Corporate Social Responsibility (CSR) in West Africa. Its CSR arm; UBA Foundation won the best CSR/Sustainability, West Africa Award at the 10thSERAs (Social Enterprise Report Awards) ceremony which held at the Muson Centre in Lagos Nigeria on Friday November 11, 2016. UBA Foundation, beat other nominees in its category, including; Lafarge, MTN, Nestoil, P&G, Exxon Mobil and Shell to… Continue Reading

Access Bank Grows Q3 Profit to N72bn

Access Bank Plc has announced animpressive profit of N72 billion for the nine months ended 30 September 2016 basedon enhanced business efficiency as a result of the effective execution of its long-termstrategy. The Bank’s Profit Before Tax (PBT) showed an increase of 19% from N60.4 billionrecorded during the same period in 2015. Profit After Tax (PAT) grew by similar marginfrom N48.1 billion in 2015 to N57.1 billion in 2016.Access Bank… Continue Reading

UBA Wins Big at Finacle Client Innovation Awards

United Bank for Africa has continued to receive accolades and global recognition for its commitment to the use of cutting-edge technology to provide simple and convenient banking solutions and services to its customers. The pan African banking Group was adjudged winner in two categories at the recently concluded Finacle Client Innovation Awards 2016, organised in India by Infosys Limited; the corporation that provides business consulting, information technology and outsourcing services… Continue Reading

ANOTHER DIAMOND BANK STAFF IN PRISON OVER N24M FRAUD

The Federal High Court in Ikoyi, Lagos has ordered that a former Manager of Diamond Bank Plc., Chinedu Oguike, be remanded to prison custody over a N24 million fraud charge. Justice Abdul Aziz Anka gave the ruling on Tuesday when the defendant was arraigned by the Police Special Fraud Unit for a three-count charge bordering on conspiracy, obtaining money under false pretense, and advance fee fraud. CSP Effiong Asuquo, the… Continue Reading

UBA SUSTAINS STRONG ASSET QUALITY AND PROFITABILITY; PROPOSES N0.20 INTERIM DIVIDEND

United Bank for Africa Plc (“UBA” or “the Bank”), announced its Audited 2016 Half Year Financial Results for the period ended 30 June 2016 showing the bank recorded gross earnings of N166 billion, net operating income of N109 billion and profit before tax of N40 billion. The bank also recorded a significant growth in total assets, rising 20% to N3.3 trillion, crossing the three trillion mark. Following the sterling performance,… Continue Reading

UBA’s GMD Calls For Closer Collaboration Among African Central Banks

Outgoing Group Managing Director of pan-African banking group, United Bank for Africa (UBA) Plc Mr Philips Oduoza has called for increased collaboration among African central banks in order to drive intra-African trade on the continent. He said this on July 22, 2016 when he delivered the fourth Valedictory Lecture of the Chartered Institute of Bankers of Nigeria (CIBN) on the topic “The Emergence of a Nigerian Pan-African Bank” to a… Continue Reading

UBA, MasterCard announce Pan African partnership

…Five year deal across 19 markets focused on driving financial inclusion in Africa United Bank Africa (UBA) and MasterCard have announced a partnership which will see UBA act as the issuer for MasterCard in 18 new markets in Africa. The partnership which came into effect in the second quarter of 2016 will see UBA issue MasterCard credit, debit and prepaid cards across these markets. The partnership will also focus on… Continue Reading

Fitch Affirms UBA’s Viability Rating as Agusto Upgrades Rating to “Aa”

….as UBA stock now best performing on the exchange Fitch International, one of the foremost global rating agencies has affirmed United Bank for Africa (UBA) Plc’s viability rating at “B”, as the pan-African banking group continue to sustain its benchmark asset quality and strong profitability amidst industry and macroeconomic challenges. UBA is one of the few banks with strong risk management framework, which has helped keep non-performing loans ratio at… Continue Reading

CBN HAMMER ON SKYE BANK: WHY EXPERTS ARE WORRIED

Financial industry watchers have continued to ponder over the sudden resignation of the key Board members of Skye Bank and the appointment of new ones by the Central Bank of Nigeria and the verdicts of top level bankers is that the development portends a dangerous and disturbing signal for the financial industry. A senior management staff of one of the first generation money deposit banks who expressed worries in an… Continue Reading

Elumelu, Adesina, Graca Machel To Co-Chair World Economic Forum In Kigali

Leading African businessman and philanthropist Tony O. Elumelu; Akin Adesina, President of the African Development Bank; Graca Machel, former first lady of Mozambique and widow of Nelson Mandela; Phillipe le Houerou, CEO of the International Finance Corporation and Tarek Sultan Al Esso, CEO and Vice Chairman of the Board Agility have been slated to co-chair the 26th World Economic Forum on Africa that will be held from 11th-13th May, 2016… Continue Reading

Access Bank hosts 2016 Innovation Challenge

In line with its corporate strategy of developing innovative solutions that drive economic development, Access Bank Plc hosted an innovation challenge where several ideas were pitched by participants with a view to finding solutions to problems in agriculture, transportation, security and power. The Access Bank Innovation Challenge is a competition that invites teams of contestants to develop innovative solutions to Nigerian societal, infrastructural and environmental challenges, and provides them with… Continue Reading

Red Alert: FCMB, Wema, Fidelity, Union Banks Now Distressed

The prevailing economic downturn in the country is taking its toll on all the sectors of the economy as players in the various segments of the Nigerian economy are all feeling the negative impact of this harsh realities. And with the banking sector actively involved in the monetary operations of the economy, Global News can authoritatively reveal that four Nigerian banks are now distressed. These banks that are said to… Continue Reading

Our Latest Cover

Peace

Zenith Bank

UBA