United Bank for Africa (UBA) Plc, has pledged its commitment to customer-centric values as it aims to build upon its successes to sustain profitability by the end of the current financial year.
UBA’s Group Managing Director, Oliver Alawuba, who gave the assurance at the half year Investor Conference Call Presentation on Thursday, explained that the bank’s impressive performance was characterised by robust revenue generation, prudent cost management, and strategic capital allocation.
Alawuba’s assurance comes on the back of exceptional performance in the first half of the 2023 financial year.
According to him, these achievements have provided the bank with a solid foundation upon which to further enhance its position as a leading financial institution in Africa and beyond.
In its first half results ended June 30, 2023, UBA showcased its financial resilience and strength, surpassing expectations with remarkable performance as it reported a profit before tax of N404 billion, representing a rise by 371 per cent, compared to N85.75 billion recorded in the first half of 2022.
With that performance, UBA became the most profitable financial institution in Nigeria.
Alawuba said, “These figures reflect our ability to finance future growth and help individual customers, families, businesses and non-profit organisations to carry out their projects. At UBA, we remain focused on our Customer First philosophy and growing our share in the various markets we operate.
“Thanks to our scale, geographic footprint and business diversification, we have numerous opportunities to grow, which should allow us to remain our customers’ first choice and to make the most of those opportunities, our focus is on implementing plans that enhance the existing network across all the countries and businesses, and improving the profitability of our core businesses through disciplined capital allocation.”
He further promised that notwithstanding the accomplishments in the first half of the year, the Bank is committed to rendering excellent services to its customers and staying focused on its strategy and corporate objectives.
UBA’s Executive Director Finance & & Risk Management, Ugo Nwaghodoh, spoke of the bank’s investment in digital banking, adding that the bank continues to gain traction from its huge investments in technology.