The Group Managing Director/Chief Executive Officer, United Bank for Africa (UBA) Plc, Kennedy Uzoka, has said that the bank recorded significant improvement in its operational and financial performance as a result of its unending commitment towards delivering products and services aimed at meeting customers’ demands.
Uzoka said this during the Investors/Analysts Conference Call at the bank’s head office in Lagos, Nigeria, on Thursday September 16, 2021, following the release of its results for the half year ended June 30, 2021.
UBA delivered a 33.4 per cent appreciation in its profit before tax which rose to N76.2bn as at June 2021, up from N57.1bn recorded in the same period of 2020, translating to an annualised Return on Average Equity of 17.5 per cent as against 14.4% a year earlier. Profit after tax grew to N60.6bn representing a significant rise by 36.3 per cent compared to N44.4 billion recorded in 2020, while gross earnings grew to N316 billion from N300.6 billion as at June 2020; a 5.1 per cent growth .
This feat was recorded despite the challenging business and economic environment that emerged from the slow pace of activities following the global lockdown occasioned by the Covid-19 pandemic.
The GMD expressed optimism that the bank is on the trajectory of achieving and even surpassing its targets for the financial year, adding that its focus on delighting its customers remains at the forefront of all its activities.
He said, “We are very committed to prudent and responsible growth of our risk assets, quality of our balance sheet and the overall health of the bank. We will continue to balance our growth appetite with the need to maintain very good healthy portfolio of our assets.
