United Bank for Africa (UBA), has announced that the bank’s African
subsidiaries now account for over a quarter of its overall total deposit
base, which is largely made up of low-cost savings and current account
deposits.
The Group Managing Director/CEO of Pan African Group,
Kennedy Uzoka, made this disclosure during an investor conference call
held recently in Lagos.
“I am particularly impressed by the
performance of our business in Congo Brazzaville, where we doubled
bottom-line, largely through transaction-based offerings.”
According
to him, overall, the African business (excluding Nigeria) contributed a
quarter of profit in the period, with a stronger outlook.
He
pledged the bank’s commitment to consolidate its position across chosen
markets, adding that the bank would penetrate the market through
innovative, simple and convenient offerings.
Uzoka added that the
bank would maintain its focus on profitable quality asset creation, even
as it directs the bank’s growth appetite within prudent risk management
culture.
“The banks strategy is hinged on a One-Point Agenda;
tagged, ‘Customer1st,’ this follows that as banking increasingly gets
commoditised, the customer will be the sole determinant of the banks’
growth and profitability
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