Glamtush
No Result
View All Result
  • Home
  • News
    • Education
    • Health
    • Metro/Crime
    • Nigeria News
    • Photo News
    • World News
  • Politics
  • Business & Brands
  • Entertainment
    • Celebrities
    • Movies
    • Music
    • Telemundo
    • Telenovelas
  • Sports
  • Fashion
    • Accessories
    • Celeb Style
    • Designers
    • Lookbook
    • Style Crush
    • Trends
    • Who Wore It Better
  • Features
    • Dear Angie
    • Interviews
    • Opinions
  • Beauty
    • Hair
    • Skin
    • Nails
  • Lifestyle
    • Career
    • Food & Drinks
    • Fitness
    • Travels
    • Weddings
  • Events
  • Relationship
  • Home
  • News
    • Education
    • Health
    • Metro/Crime
    • Nigeria News
    • Photo News
    • World News
  • Politics
  • Business & Brands
  • Entertainment
    • Celebrities
    • Movies
    • Music
    • Telemundo
    • Telenovelas
  • Sports
  • Fashion
    • Accessories
    • Celeb Style
    • Designers
    • Lookbook
    • Style Crush
    • Trends
    • Who Wore It Better
  • Features
    • Dear Angie
    • Interviews
    • Opinions
  • Beauty
    • Hair
    • Skin
    • Nails
  • Lifestyle
    • Career
    • Food & Drinks
    • Fitness
    • Travels
    • Weddings
  • Events
  • Relationship
No Result
View All Result
Glamtush
No Result
View All Result
Home Business & Brands

At UBA’s 60th AGM, Elumelu Upholds Commitment To Exceed Growth Trajectory, Create Value For Shareholders

Shareholders Laud UBA’s Dividend Yield, Subsidiary Performance

byGLAMTUSH
April 7, 2022
in Business & Brands
UBA’s 60th AGM
Share on FacebookShare on TwitterShare on PinterestShare on WhatsappShare on LinkedinShare on Telegram

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has assured shareholders and investors of its unwavering commitment to sustain its current growth trajectory even as its efforts at business diversification across Africa and beyond continue to yield increasing returns.

The Group Chairman, Tony Elumelu, who made this declaration at UBA’s 60th Annual General Meeting, which was held at the Transcorp Hilton Hotel, Abuja on Thursday, April 7, 2022, noted that the bank’s strategic investment decisions over the past few years have indeed translated to huge returns for its investors, despite the challenging business environment witnessed in the last two years.

READ ALSO

Black Market Dollar To Naira Exchange Rate Today 31 January 2023

Transcorp Group Adds 138 MW To Its Power Generation Capacity

“I am proud of how as a Group, we have been able to further consolidate on the new capabilities we have built, novel customer solutions we have deployed, efficiency gains recorded and the growth prospects we have leveraged from a recovering world,” Elumelu stated, adding “These were the building blocks for the very strong financial performance and the growth delivered by your Group in 2021, further confirming the wisdom of the investments we made and the strategy we have pursued, to ensure the diversification and sustainability of our business model.”

Pix 4: l-r: Group Managing Director/CEO, United Bank for Africa(UBA) Plc, Mr. Kennedy Uzoka; Group Chairman, Mr Tony Elumelu, CON; and Company Secretary, Mr. Bili Odum at the 60th Annual General Meeting of the Bank held in Abuja on Thursday.

Whilst expressing his delight to shareholders and customers who have stood with UBA for almost eight decades, Elumelu remained confident of the bank’s capacity to sustain this momentum especially as economic activities recover from the impact of the Covid -19 pandemic.

READ ALSO  Financial Empowerment: UBA Launches ‘Click Credit’ To Ease Access To Cash For Customers

“Our goal is to continue to build strong brand loyalty with our customers and create additional value for our shareholders, whose underlying support has positioned UBA for continued growth,” the Chairman noted.

UBA’s Group Managing Director/Chief Executive Officer, Kennedy Uzoka, who went into details about the improved performance of the bank’s subsidiaries in the financial year under consideration, said, “We are happy that the global community recognizes the role our Group is playing in the transformation of the African economic landscape through innovative and customer-focused banking services.”

He pointed out that the bank’s business in the United Kingdom had specifically witnessed remarkable expansion, adding “As from July 2021, UBA UK started making profit, and even to date, they are still doing well, and the same can be said for many of our African subsidiaries. The truth is that we are driven by the opportunities and potential in each of the geographies that we invested in, and we are happy with what we have achieved so far’.

Pix 8: l-r: Group Managing Director/CEO, United Bank for Africa(UBA) Plc, Mr. Kennedy Uzoka and Group Chairman, Mr Tony Elumelu, CON., at the 60th Annual General Meeting of the Bank held in Abuja on Thursday.

Shareholders who spoke at the meeting including Sir Sunny Nwosu, Alhaji Farouk Umar, Mr. Nonah Awoh, Mr. Patrick Ajuda, Mrs. Bisi Bakare and Chief Timothy Adesiyan, were unanimous in their commendation of the board and management of UBA, for the impressive financials which have translated to higher dividends for shareholders.

“Despite the economic situation UBA has been able to grow profitability and increase its customer base. If you compare the dividend with the share price of UBA, you will see that our dividend yield is very high. No bank in Nigeria has been able to achieve this, and I therefore commend the UBA board,” Umar noted in his remarks.

READ ALSO  Tony Elumelu: A Man Who Hardly Backs Down From Any Challenge - Dangote

At the end of the 2021 financial year, UBA’s Profit Before Tax was impressive with a 20.3 percent growth to N153.1 billion, compared to N127.3 billion at the end of the 2020 financial year; while Profit After Tax rose grew by 8.7 percent to N118.7 billion in 2021, compared to N109.2 billion recorded the previous year. As a result, the Bank proposed a final dividend of 80 kobo for every ordinary share of 50 kobo for the financial year ended December 31, 2021, bringing the total dividend for the year to N1.00 as the Bank had earlier paid an interim dividend of 20kobo.

Pic 5: l-r: Non-Executive Directors – Erelu Angela Adebayo, Ms Angela Aneke, Mrs Owanari Duke; Group Managing Director/CEO, Mr. Kennedy Uzoka; Group Chairman, Mr Tony Elumelu, CON; Non-Executive Directors –Hajia Aisha Hassan Baba and Mrs Caroline Anyanwu, at the 60th Annual General Meeting of the Bank held in Abuja on Thursday.

United Bank for Africa Plc is Africa’s global bank, offering banking services to more than twenty seven million customers, across over 1,000 business offices and customer touch points in 20 African countries. With a presence in the United States of America, the United Kingdom and France and its more recent operating license in the United Arab Emirates, UBA is connecting people and businesses across Africa through retail; commercial and corporate banking; innovative cross-border payments and remittances; trade finance and ancillary banking services.

Related

Related Posts

Dollar To Naira Exchange Rate
Business & Brands

Black Market Dollar To Naira Exchange Rate Today 31 January 2023

January 31, 2023
Transcorp Group
Business & Brands

Transcorp Group Adds 138 MW To Its Power Generation Capacity

January 31, 2023
Abiola Bawuah
Business & Brands

JUST IN: UBA Appoints Abiola Bawuah As First Female CEO

January 30, 2023
Dollar To Naira Exchange Rate
Business & Brands

Black Market Dollar To Naira Exchange Rate Today 30 January 2023

January 30, 2023
Dollar To Naira Exchange Rate
Business & Brands

Black Market Dollar To Naira Exchange Rate Today 29 January 2023

January 29, 2023
Dollar To Naira Exchange Rate
Business & Brands

Black Market Dollar To Naira Exchange Rate Today 27 January 2023

January 27, 2023
Next Post
Pete Edochie Banishes Yul’s Second Wife

Why Ugwuanyi Is Giving The Best Of His Attention To Education In Enugu -Veteran Actor, Pete Edochie

E-Magazine Covers

GTCO Fashion Weekend
Lace Styles
Emerging Artists

Check Out Emerging Artists To Watch In 2023

January 31, 2023
Chinedu Ikedieze

Moyo Lawal Excited As She Meets Actor Chinedu Ikedieze (PHOTOS & VIDEO)

January 31, 2023
Actors Guild Of Nigeria

Deyemi Okanlawon, Uche Elendu Bag Appointments With Actors Guild Of Nigeria

January 31, 2023
Nnamdi Kanu

Atiku Abubakar To Release Nnamdi Kanu If Elected President

January 31, 2023
Akwa Ibom

Atiku Will Sell Your Palm Trees, Run To Dubai – Tinubu Tells Akwa Ibom People

January 31, 2023
Tinubu

I Rescued Atiku When Obasanjo Wanted To Roast Him Like Goat – Tinubu

January 31, 2023
Dollar To Naira Exchange Rate

Black Market Dollar To Naira Exchange Rate Today 31 January 2023

January 31, 2023
Transcorp Group

Transcorp Group Adds 138 MW To Its Power Generation Capacity

January 31, 2023
Nigerian Newspaper

Top Nigerian Newspaper Reviews Today, Tuesday 31 January 2023

January 31, 2023
Primate Ayodele

Primate Ayodele Begins 17 Days Of Appreciation & Philanthropic Impacts, Visits Sick People

January 31, 2023

Glamtush is a fashion, beauty and lifestyle online magazine. We bring to you latest trends in fashion, beauty and lifestyle as well as those making the fashion world interesting and adorable.

  • About Us
  • Advertise
  • Terms And Conditions
  • Write for Us

© 2022 Glamtush

No Result
View All Result
  • Home
  • News
    • Education
    • Health
    • Metro/Crime
    • Nigeria News
    • Photo News
    • World News
  • Politics
  • Business & Brands
  • Entertainment
    • Celebrities
    • Movies
    • Music
    • Telemundo
    • Telenovelas
  • Sports
  • Fashion
    • Accessories
    • Celeb Style
    • Designers
    • Lookbook
    • Style Crush
    • Trends
    • Who Wore It Better
  • Features
    • Dear Angie
    • Interviews
    • Opinions
  • Beauty
    • Hair
    • Skin
    • Nails
  • Lifestyle
    • Career
    • Food & Drinks
    • Fitness
    • Travels
    • Weddings
  • Events
  • Relationship

© 2022 Glamtush