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UBA total assets hit N8.5trn

Joseph Inokotong
UBA's drive for strategic investment, UBA total assets hit N8.5trn, UBA delivers N153bn profit, records 11% balance sheet growth, UBA terminates $0.5bn Eurobonds early ahead of new debt offering, Profit UBA, UBA to increase consumer

United Bank for Africa Plc (UBA), a leading Pan-African financial services group with a presence in 20 African countries as well as the United Kingdom, the United States of America and France have reported total assets of N8.5 trillion, representing an 11 per cent growth in the year ended December 31, 2021.

The Bank also announced a final dividend payment of 80 kobo for every 50 kobo ordinary share for the period under review. This takes the total dividend to N1. 00 kobo, made up of the interim dividend of 20 Kobo earlier declared.

In the audited results presented to shareholders at the Bank’s Annual General Meeting (AGM) held in Abuja on Thursday, the Bank said its Gross Earnings grew by 16.9 per cent from N615.77 billion to N658.29 billion.

Profit before tax stood at N153.07 billion, while Profit after tax stood at N118.68 billion and the share price of the Bank currently stands at N8.25k.

Overall, the group profitability grew by 20.3 per cent, further demonstrating UBA’s dominance in the financial services space.

Chairman, Board of Directors of UBA Plc, Tony Elumelu said the year 2021 demonstrated human resilience and innovativeness, in the face of unprecedented challenges.

“Against a backdrop of a world economy that continued to be challenged by Covid-19, we saw extraordinary human responses – not least in Africa, where policymakers, the private sector and our African academics and scientists showed that adversity, can also create opportunity.

“UBA epitomised this spirit of tenacity, responsiveness, and ingenuity, as illustrated by our exceptional performance during the year”.

Group Managing Director/CEO of UBA Plc, Kennedy Uzoka pledged to consolidate the Bank’s operations globally and explore new opportunities as they manifest in the normal course of business.

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Items worth over N10 million were reportedly carted away by suspected armed robbers on July 6, 2021 from a clothing and accessories store in Ilorin, the Kwara state capital. The Nigerian Tribune gathered that the suspected hoodlums carted away several clothing items like designers shirts, chinos and jeans trousers, men's and ladies shoes, men's suits, and some other clothing accessories from the clothing store, popularly known as "a la mode", located along Umar Audi road, opposite old Broadway hotel, GRA, Ilorin. Lamenting the loss with the Nigerian Tribune, the owner of the store, Mr. Woye Aladegbola, said that it was only his clothing store that was burgled in a row of shops along the road. He also said that men and officers of the security agencies he reported the matter at both the 'A' and 'F' Divisional Police stations were yet to give any development on the matter. The young entrepreneur, who said that such incidents could discourage investment, called on the state government and the security agencies to improve on security matters in the state. It was only the shop that was burgled, while the burglary case was reported at F division station of the Nigeria Police and the state command of the Nigeria Security of the Civil Defence Corps (NSCDC), Ilorin. Said he's been in the business over 10 years, the business he said he ventured into after he resigned from globacom telecommunications company. The ssd The burglary incident happened on July 6, 2021 at about 6:30 am, when my landlady on her way to work surprisingly noticed that my store had been opened. She said that she moved closer to see who could have opened it at that period of the day and was taken aback to see how everything had been scattered and saw that it has actually been burgled. She later alerted me that my store had been burgled. And I rushed down. "Worth of items carted away is around N9.8 million and with other fixtures it amounted to about N10 million plus some fractions aside other items not on insurance which were also carted away. Mr. Aladegbola who said that police had not made any arrest on the incident, expressed disappointment on the efforts of the security agencies. "When I reported at the A division of the Nigeria Police, an officer followed me down to the store and there was nothing whatsoever yet afterwards. It's so saddened that what I have laboured for for the past 20 years after leaving university was just carted away within hours of a day, all my entire savings. All what I can say is mine to sustain my family with; all gone within a twinkle of am eye. To encourage business owners in the state, I want to call on government and security agencies to assure the people of adequate security and protection. And to imagine that my store is opposite main road and just a street separates it from Senator Bukola Saraki residence, adjacent to former CBN deputy governor's house and a minute drive from Commissioner of Police official residence. These are places of prominent and important dignitaries where the store is located. It's on a highway where there should be security patrol. I don't understand why almost all items in a store could be packed. They must have come in a lorry and throughout the period it lasted no patrol. It shows there's poor security issue in the state. And till now, the police had no clue to the matter. This could really discourage investment. As it is I don't know if I could continue with the store because I wouldn't want such to happen again. The onus is on government to provide security. I'm an employer of labour. I had to lay off some of my staff. This should not be allowed to continue or else rate of unemployment and crime will continue to rise", he said. Speaking with the Nigerian Tribune, the Police Public Relations Officer (PPRO), Okasanmi Ajayi, said that he was yet to get the report from the Divisional Police stations. 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