This, according to him, is critical if the South Eastern region of the country is to unlock its long-term development agenda under the South-East Vision 2050 (S8V2050).

Alawuba made the call while delivering a goodwill remark at the South-East Vision 2050 Regional Stakeholder Forum which was held at the International Conference Centre, Enugu on Wednesday.

The multi-day forum was convened by the South-East Development Commission (SEDC) in collaboration with the Office of the Vice President, the Ministry of Regional Development and the South-East State Governments, to build consensus around a shared development pathway for the region and advance implementation-ready interventions aligned with national priorities.

Speaking in his capacity as GMD/CEO as well as the Chairman of the Body of Banks’ CEOs and on behalf of Corporate Nigeria, Alawuba identified peace and security as the most urgent requirement for attracting investment into the region, noting that safety remains the first signal investors assess before committing capital.

“The first thing the South-East needs is peace. It is an established fact, world over, that investments flow in the direction of safety,” Alawuba stated, urging state governments and regional leaders to sustain coordinated efforts to secure lives, assets and infrastructure.

He also challenged stakeholders to adopt a results-driven partnership model between government and the private sector; just as he noted that the success of the South-East Vision 2050 will largely depend on the region’s ability to articulate and package clear, measurable and value-adding projects capable of attracting long-term capital.

“Vision alone is not enough. The South-East must present specific, bankable projects with defined impact – projects that can unlock investment, create jobs and deliver real improvements in the lives of our people,” Alawuba stated.

The Forum brought together prominent Nigerians from across government and the private sector, including His Excellency, Senator Kashim Shettima, GCON, Vice President of the Federal Republic of Nigeria, Governors of the South-East States (Imo, Abia, Anambra, Ebonyi and Enugu), Distinguished Senators and Honourable Members of the House of Representatives.

Other key participants included the Honourable Minister of Regional Development, the Chairman, Board Members and Management of SEDC, Royal Fathers and members of the clergy, members of the Diplomatic Corps, captains of industry, and development partners.

The UBA CEO took time to commend the South-East Governors for visible progress in road construction and other critical facilities across the region, while calling for accelerated delivery at scale.

He said,

“Infrastructure is the bedrock of development,” he said. “We have seen improvements, but a little bit more is required such as reliable power, motorable roads, rail, water and connectivity to remove the bottlenecks that limit productivity and competitiveness.”

While stressing the importance of creating a truly investor-friendly business environment and unlocking diaspora capital to drive inclusive growth, he added that “Capital will always respond to predictability, ease of doing business and confidence. If we get the fundamentals right, Corporate Nigeria and the banking industry will rally round to finance viable projects, support SMEs, create jobs for our youth and mobilize long-term capital to make South-East Vision 2050 a reality.”

He seized the opportunity to reaffirm UBA’s readiness to partner the SEDC and South-East State Governments, as he noted that the Vision 2050 framework will be strengthened by private-sector participation and long-term capital mobilization to ensure it remains credible and investable.

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group-wide and serving over 45 million customers globally.

Operating in twenty African countries, the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.

The partnership strengthens Lagos State’s transportation ecosystem and accelerates the shift toward a structured, technology-enabled and financially bankable mobility sector.

Over the past 10 months, Lagride has rebuilt its entire onboarding and operational system for drivers, known as Lagride Captains.

The platform introduced a performance-led Drive To Earn structure supported by weekly and monthly rental models.

This system has generated consistent 90-day usage and repayment data across the fleet, allowing United Bank for Africa and other financial institutions to assess driver performance with accuracy, confidence and transparency.

Eligibility for the Drive To Own programme is based on clearly defined performance thresholds, repayment discipline, safety compliance and service consistency.

Through this approach, Lagride has emerged as the most structured, data-driven and credit-ready mobility platform in Nigeria, setting a new benchmark for bankable driver financing and asset ownership.

“Transportation is the backbone of Africa’s economic future, and platforms like Lagride are creating the blueprint for how African cities can build modern, technology-driven and people-centred mobility systems.”

EV Infrastructure Expansion

As part of the milestone, Lagride also unveiled an expanded electric vehicle charging facility in Alausa, Lagos, reinforcing its long-term commitment to clean, future-ready mobility.

The expanded infrastructure is designed to support the growing electric vehicle segment within Lagride’s fleet, reduce operational downtime and enable more efficient, sustainable transportation at scale.

By pairing driver financing with practical EV infrastructure, Lagride is positioning itself as a mobility platform built not just for today’s Lagos, but for the next generation of urban transport.

Chairman’s Vision: From Drivers to Investors

Speaking on the landmark partnership, Chief Diana Chen, chairman, Lagride, stated that the ultimate goal of the Drive To Own programme is not to keep drivers behind the wheel indefinitely, but to move them up the economic value chain.

She explained that Lagride is intentionally designed to help drivers evolve from operators into owners, and ultimately into investors and partners managing multiple vehicles and teams of people.

“Lagride was created to give Lagos a modern, disciplined and technology-driven mobility system while ensuring that drivers are not left behind. The goal is for drivers who we call Captains to become business owners, fleet partners and mobility investors, not just drivers. This 100 million dollar partnership with United Bank for Africa moves thousands of captains closer to owning productive assets, managing multiple cars and building stronger financial futures. It is a major step forward in our commitment to driver prosperity and the future of smart mobility in Lagos.”

She noted that the Drive To Own programme is a starting point, not an endpoint, laying the foundation for long-term enterprise building, governance and scalable wealth creation within the mobility sector.

UBA’s Perspective

Delivering remarks at the event, Oliver Alawuba, group managing director and CEO, United Bank for Africa, shared a personal reflection on his father, who had been a professional driver.

He spoke about transportation as a source of dignity, livelihood and social mobility, and why UBA considers the sector critical to inclusive economic growth.

He also recounted his reaction when Chief Diana Chen first shared the Lagride vision, describing it as clear, ambitious and strongly aligned with UBA’s commitment to financing real-sector projects that create jobs, build assets and deliver long-term economic impact.

According to him, Lagride represents the kind of transformational, well-governed and data-backed initiative that UBA exists to support across Africa.

Event Speakers and Signatories

The event featured contributions from key stakeholders across Lagride, UBA and CIG Motors Group, including:

• Chief Diana Chen, chairman, Lagride
• Ademola Adeyemi, Lagride Academy and Driver Management Team Lead
• Dorathy Akpan Etim, Lagride Captain on the Drive To Own Scheme with UBA
• Brigadier General Chukwuemeka Udaya, special adviser to the Chairman on Government Relations, who signed on behalf of CIG Motors
• Ifeanyi Abraham, PR director, Lagride, who hosted the event

Other Dignitaries in Attendance

Also present were senior executives and leaders from UBA, Lagride and CIG Motors Group, including:

Wei Bin, Chief Operations Officer, Lagride; Babatunde Ajayi, head of SME Banking; Alero Ladipo, group head, Marketing and Corporate Communications; Olufemi Osobajo, head of Segments and Channels Marketing; Olufemi Bamigbetan, head, REDTV; Ramon Nasir, head of Media Relations; Abiodun Coker, Media Relations, and Adetola Adeduwon, head of Events.

From CIG: Eniola Olutimehin, chief operating officer, CIG Motors; Dr Ram, chief financial officer, CIG
Mrs Manyo Pam, general manager, Operations, CIG; Mr Martin, managing director, Gree, and Mr Roamen, managing director, Lontor.

The partnership underscores a shared commitment by Lagride, United Bank for Africa and CIG Motors Group to build a disciplined, scalable and investor-ready mobility ecosystem where drivers can grow into business leaders, asset owners and long-term partners in Lagos’ transportation future.

Mr. Oliver Alawuba, the group managing director/CEO, and a cadre of senior executives gathered to review half-year performance, but what emerged was more than a business update.

It was a renewed commitment to UBA’s pan-African dream and its bold ambitions to connect African markets with global opportunities.

As executives from UBA’s 24 operating countries convened, the message was clear: UBA is not just expanding; it’s transforming the financial services landscape across Africa and beyond.

From Ghana to Global: A Legacy of Continental Leadership

UBA’s journey as a pan-African powerhouse began in 2004 with expansion to Ghana. From there, the bank rapidly expanded into 18 more African markets, creating a financial bridge across the continent.

Today, UBA’s footprint spans 20 African countries, and its influence reaches far beyond, with thriving operations in the United Kingdom, France, the United States, and the United Arab Emirates.

This international momentum is more than symbolic, it’s strategic. Over 51.7% of the Group’s revenue now comes from non-Nigerian operations, demonstrating the success of its diversified model and the growing strength of African economies.

“Our vision is crystal clear,” said Oliver Alawuba. “We are building a truly global bank rooted in Africa but serving clients across continents. Strategic expansion allows us to unlock new growth opportunities, support intra-African trade, and provide world-class banking wherever our customers do business.”

New Markets, New Momentum

Alawuba emphasized that UBA is eyeing key high-potential markets, not only to extend its reach but to deepen its presence in existing territories.

The goal?

To meet the evolving needs of Africa’s booming population and business landscape with innovative, tech-enabled banking solutions.

UBA’s recent announcement of plans to launch operations in Saudi Arabia is a testament to its outward-looking vision.

This expansion complements ongoing efforts to upgrade its banking license in France, enhancing its capacity to support cross-border trade, diaspora banking, and global investment flows.

With over 45 million customers and 25,000 employees worldwide, UBA continues to lead as one of Africa’s largest and most inclusive financial institutions.

Connecting Africa to the World – and the World to Africa

UBA’s international strategy isn’t just about physical presence. It’s about serving as a financial conduit between Africa and the global economy, facilitating investments, empowering diaspora communities, and supporting the African Continental Free Trade Area (AfCFTA) vision.

“Our commitment to Africa is unwavering. But we also understand that our customers are global, and their ambitions are global,” Alawuba said. “From Lagos to London, Accra to Abu Dhabi, we are enabling prosperity by staying present where opportunity lives.”

Tech-Driven, Customer-Focused, Future-Ready

As UBA expands, it continues to invest in digital transformation, ensuring its retail, commercial, and institutional banking customers enjoy seamless, secure, and scalable services.

From mobile banking for rural communities to enterprise-grade platforms for multinationals, UBA is redefining financial inclusion through innovation.

The bank’s growth strategy is aligned with its core mission: to make banking accessible, efficient, and empowering for the entrepreneur in Nairobi, the trader in Dakar, the investor in Dubai, and the student in London.

In the recently released KPMG 2024 West Africa Banking Industry Customer Experience Survey, it emerged among the top five banks in various survey segments.

The survey showed that the bank earned an impressive second place in SME Banking and a third place in Retail Banking. It marked a significant leap in rankings, highlighting UBA’s transformation under its Customer First (C1st) philosophy.

The survey results showcased UBA’s remarkable transformation in customer experience over the past year. For instance, in Retail Banking, the bank rose to third place from 14th place recorded in 2023, while in SME Banking, it jumped to second place from sixth place last year.

The bank also made notable progress in Corporate Banking, climbing to fourth place from 8th in 2023. These milestones underscore the bank’s ability to consistently exceed customer expectations and deliver unmatched service across all its business segments.

Speaking on the achievement, UBA’s Group Managing Director/CEO, Oliver Alawuba, said: “This recognition is a testament to our ability to turn aspirations into achievements and challenges into victories.

‘’At the heart of this success lies our unwavering commitment to the Customer First (C1st) philosophy. It is not just a slogan but the essence of who we are. Through C1st, we’ve redefined customer satisfaction, delivered value, and earned the trust and loyalty of our clients.”

Alawuba, who credited UBA’s success to the dedication of its employees, said, “From retail branches to corporate offices, from technology teams to front-line staff, every effort contributed to this extraordinary transformation. I extend my heartfelt gratitude to our exceptional team for making this possible.”

According to the GMD, UBA has, for several years, placed its customers at the centre of its operations, guided by its six pillars of Customer Experience, including Integrity- Building trust through honesty;  Resolution- Promptly addressing customer concerns; Expectations-Anticipating and exceeding customer needs; Time and Effort- Simplifying processes to save time; Empathy- Demonstrating genuine care and understanding as well as Personalisation- Delivering tailored solutions.

He added that these principles have reshaped how UBA connects with its customers, fostering trust and deepening loyalty across its diverse markets.

While celebrating this milestone, the GMD disclosed that UBA remains committed to becoming the undisputed number one across all segments, adding that the bank aims to achieve this through deepened customer relationships, strengthened processes, and continuous innovation.

“The world of banking is evolving rapidly, and customer expectations are at an all-time high. To lead in this dynamic landscape, we must stay agile, innovative, and unwavering in our commitment to excellent service. Together, we will set new benchmarks and deliver unparalleled value to our customers,” he stated.

Their success has been bolstered by the impressive data shared with the media in the second quarter, which has helped sustain positive public perception and confidence in these industries.

An independent analysis of the media performance and prominence of the CEOs of Nigerian Commercial Banks, Insurance Companies and Telecommunication Providers for the second quarter was conducted by the leading Media Intelligence and Public relations audit agency, P+ Measurement Services. 

This media analysis monitored more than 1.3 million online publications from blogs, news sites, broadcasts, forums, and digital media in the local and global media space, as well as about 5,115 print publications (including daily, weekly, and monthly publications), from which different metadata was extracted, including the sentiment of reporters, editors, publishers, and opinion writers from various online and print publications, spokesperson analysis, CEOs performances, and other topics.

Through detailed media data gathering, analysis, and audit of salient valid PR metrics of 27 Commercial Banks, top 10 leading Insurance companies, and top 4 Telecommunications Providers.

The reports ranked the top CEOs (Commercial Banks, Telecommunication, and Insurance) prominent in the Online and Print media.

Banking Sector

According to the analysis, Yemisi Edun of First City Monument Bank (FCMB), led the leaderboard with a 23% share of media coverage, indicating a strong media presence and influence in the banking sector. Closely behind were Oliver Alawuba of United Bank for Africa (UBA) with 22% and Nneka Onyeali-Ikpe of Fidelity Bank capturing 22% of media coverage, demonstrating significant visibility and engagement within the industry.

Moruf Oseni of Wema Bank came in next with 18% and Wole Adeniyi of Stanbic IBTC Bank rounded out the chart with 16%, showing a notable but comparatively lower media presence.

This distribution of media coverage highlights the competitive landscape and varying levels of media engagement among top banking executives.

Insurance Sector

In the insurance sector, the media performance audit report revealed that Akinjide Orimolade of Stanbic IBTC Insurance Limited had the most media exposure at 73%.

Lesi Gboyega of Leadway Assurance with 15% and Kunle Ahmed of AXA Mansard Insurance followed closely with 9%.

Eddie Efekoha of Consolidated Hallmark Insurance with 2% and Andrew Ikehua of NEM Insurance with 1% media exposure.

This distribution highlights a competitive media landscape among insurance executives, with varying levels of visibility and engagement reflecting their influence and presence in the sector.

Comparing both sectors, it is evident that top executives in banking and insurance are actively working to maintain significant media profiles to enhance their brands’ visibility and market influence.

Telecommunications sector 

In the telecommunications sector, Karl Toriola of MTN Nigeria led the media performance with 67% share of media coverage, highlighting MTN’s dominant presence and influence in the industry.

Carl Cruz of Airtel Nigeria followed with 31%, indicating substantial visibility and engagement.

In contrast, Mike Adenuga of Globacom had lower exposure, with only 2% media coverage.

This distribution underscores the disparity in media engagement among telecommunications executives, with MTN and Airtel maintaining strong media profiles.

Comparing the telecommunications sector to the banking and insurance sectors reveals that media coverage is highly concentrated among a few key players, highlighting the varying strategies and successes in maintaining media presence across different industries.

Overall, the analysis reveals significant disparities in media engagement across the banking, insurance, and telecommunications sectors. Key executives like Yemisi Edun, Akinjide Orimolade, and Karl Toriola have successfully maintained strong media profiles, highlighting their influence within their respective industries.

This highlights the importance of strategic media engagement for maintaining visibility and influence in a competitive landscape.

More About P+ Measurement Services

P+ Measurement Services is Nigeria’s leading independent media intelligence consultancy that focuses on delivering detailed media monitoring, measurement, evaluation, and analysis across all media channels. P+ is internationally recognized as a PR measurement and evaluation consultant in Nigeria with activities being governed/regulated by AMEC (The International Association for the Measurement and Evaluation of Communication).

The bank joined the elite group of companies with N1trillion capitalisation just as its share price value hits N29.90 per share.

At the close of trading on Monday, the bank’s market cap­italisation hit N1,022,562,698,843, making it the 3rd most capitalised financial institution in Nigeria, a remarkable lift from N283.8 billion at the beginning of the 2023.

The bank has 34,199,421,366 shares in issue.

UBA’s N1 trillion market cap­italisation mark comes amid the bank’s share being named as the highest performing stock in the banking sector in 2023, which underscores the bank’s robust growth trajectory and unwaver­ing market confidence.

Specifically, between the start of January 2023 and Monday, the price of UBA shares has appre­ciated by over 250 percent from N7.60 per share.

Tony Elumelu, the chairman, UBA Group, said that the bank’s remarkable journey in 2023 cul­minated with its shares being ac­claimed as the highest performing stock within the banking sector, as he pointed out that this not only highlights the bank’s stra­tegic prowess but also reflects its commitment to delivering unpar­alleled value to shareholders and stakeholders alike.

“As UBA celebrates these sig­nificant milestones, we will like all our stakeholders to know that we remain steadfast in our mission to drive sustainable growth, foster innovation, and create value for its diverse clientele across Africa,” Elumelu said.

“We are witnessing the impact of the business transformation drive UBA embarked on years ago and executed well. Naturally, the market has taken note of and is duly rewarding our efforts. To our stakeholders, our promise is that we will continue to work harder, deliver on what we know how to do well and create impacts across geographies where we currently operate,” he further said.

Oliver Alawuba, UBA’s group managing director/Chief Executive Officer, who expressed delight at the bank’s performance in the past few months, said with its unwav­ering commitment to excellence and execution, the bank continues to set benchmarks in the banking sector, reinforcing its position as Africa’s global bank of choice.

“Market participants have begun to appreciate the latent ca­pacity in UBA’s business model as the bank unlocks enormous potentials in its pan African and international operations. Its unique competitive advantage lies in people, processes, and technolo­gy. With operations and offices in 24 countries and on 4 continents, UBA is the only African bank with deposit-taking licence in the USA. The bank’s fundamentals remain strong with impressive financial results that have contin­ued to deliver sustainable value for its shareholders. At current price, UBA trades at price-to-earn­ing (P/E) and price-to-book (P/B) multiples of 2.27 and 0.59 which are a reflection of the market’s expectations of the bank’s future growth potentials,” Alawuba said.

UBA is listed on the premi­um board of the Nigerian Stock Exchange in recognition of the bank’s strong adherence to in­ternational best practices on cor­porate governance and remains committed to creating value for its over 275,000 esteemed sharehold­ers spread across the globe.

The outgone year, 2023, has been a splendid year for United Bank for Africa, becoming the most profitable bank in Nigeria in 2023, with a shareholders’ fund that has grown from 992 billion as at full year 2022 to N1.8 trillion as of September 2023.

UBA was also appointed as the Local Arranger and Local Depos­itory Bank for the $3.3 billion FX liquidity support facility for Ni­geria in partnership with Africa Export and Import Bank (Afrex­imbank), providing solutions to economic solutions in Nigeria characterised by shortage of FX liquidity.

Likewise, in 2023, UBA won the 2023 FMDQ Gold Awards in three categories including the Best FX Liquidity Provider; Dealing Insti­tution of the Year and Best Money Market Liquidity Provider. This recognition is a testament to UBA’s impressive capital strength. (Independent)

Techeconomy gathered that the facility is aimed towards enhancing the bank’s support to the private sector and financing of infrastructure development in Africa’s largest economy, Nigeria.

This facility comprises a $100 million in long-term senior debt, $50 million of trade finance medium-term senior debt and a $25 million risk participation programme.

This was announced at the weekend by the pan African development institution having been approved by its board of directors.

The long-term senior debt will enhance UBA’s capacity to finance projects in Nigeria in the key sectors of infrastructure, agriculture and related value chains, as well as manufacturing, energy, and SMEs.

The facility will be complemented with technical assistance from the Affirmative Action for Women in Africa (AFAWA) initiative to boost access to finance and technical assistance to women SMEs.

The trade finance senior debt will provide UBA with much needed countercyclical dollar liquidity to support SMEs and local corporates involved in export-import related activities in the short to medium term.

The unfunded Risk Participation Agreement aims to strengthen UBA UK’s role as regional confirming bank and by extension expand access to international markets for largely excluded African issuing banks.

The African Development Bank and UBA UK, a subsidiary of UBA PLC, will share 50/50 the default risk on a portfolio of eligible trade transactions originated by African issuing banks and indemnified by UBA UK.

Speaking after the board approval, AfDB’s Group Director General for Nigeria, Lamin Barrow, said, “We are pleased to support UBA with this package, which aligns with four of the African Development Bank’s High 5 priorities namely Light Up and Power Africa, Feed Africa, Integrate Africa, and Industrialise Africa.

“This intervention will address unmet demand for trade finance in Nigeria and Africa respectively by providing medium term finance to support exports and the importation of intermediate goods required to sustain vital economic sectors.

It will also unlock stable and affordable funding for SMEs who are the engine of Nigeria’s economic growth and employment generation,” Ahmed Attout, African Development Bank Acting Director for Financial Sector Development, further said.

Also commenting, Oliver Alawuba, the group managing director/ CEO, UBA, said, “This facility will further deepen our support, which has been very considerable, to the critical sectors of Nigerian economy and especially to women-owned businesses and small and medium enterprises, which we consider as the engine of any country’s economic development.”

This shows strong growth from N85.75 billion recorded in the first half of 2022.

The jump in profitability translated to an annualized Return on Average Equity of 57.7 per cent as against 17.1 per cent a year earlier.

UBA disclosed these in its financial results for H1’23 released to the Nigerian Exchange Limited (NGX) on Tuesday.

Among other things, the results showed that   the Group recorded double and triple-digit growth across its major income lines, as it continued to show substantial progress in increasing the contribution and market share from its subsidiaries in Africa and globally.

Profit after tax (PAT) shot up by 437.8 per cent to N378.24 billion in H1’23 from H1’22 figure.

Operating Income grew by 206.6 per cent to N783.96 billion in June 2023; higher than N255.67 billion reported a year earlier.

The Group delivered a 164 per cent growth in its Gross Earnings which rose to N981.78 billion as at June 2023, up from N372.36 billion recorded last year in June 2022.

Total Assets rose by 41.7 per cent  to  N15.38 trillion from N10.86 trillion recorded in H1’22.

Customer Deposits also rose by a sharp 42.4 per cent to N11.14 trillion in the period under consideration; as against N7.8 trillion recorded at the end of 2022.

Shareholders’ Funds increased to N1.712 trillion reflecting the Group’s strong capacity for internal capital generation.

Following the improved performance, and in line with the Group’s culture of paying both interim and final cash dividends, the board of the Bank has approved an interim dividend of 50k per share, which represents over 150 per cent  increase over the prior year.

Mr. Oliver Alawuba, UBA’s Group Managing Director/Chief Executive Officer, commenting on the results said the exceptional performance underscored the Group’s commitment to consistently deliver value to its shareholders; he added that the Group made progress in digital payments, retail penetration and also benefited from the effect of revaluation gains, arising from the harmonisation of foreign exchange rates at the different access windows in Nigeria.

He said:  “The Group recorded strong double-digit growth in revenues and profits from its operations, the result also reflects the effect of sizeable revaluation gains, arising from the harmonization of currency exchange rates in Nigeria.

”Our reporting currency found a new exchange level at about N756 to 1US$ as of 30 June 2023, compared to N465 at the beginning of the year. The results again demonstrate the benefits of our long-held diversification strategy across Africa and globally.  The growth of our international business, most recently in the UAE, only reinforces this earnings quality.

“Our business is on a steady growth trajectory, as we further strengthen our risk management traditions and practices necessary technology investments to deliver premium service to our customers.

”We have also continued to finance landmark projects in critical sectors of the economies across Africa, facilitating intra-Africa trade with our valuable offerings and provide a versatile last-mile distribution network for Africa-bound donor and multilateral agency funds.”

“The three core geographical pillars of our business (Nigeria, Rest of Africa and Rest of the World) are making strong contributions to the Group profit, further justifying our global strategy and business positioning across Africa, UAE, France, UK and USA, and demonstrating the benefits of positioning UBA as the financial intermediary for Africa and the rest of the world.” Alawuba said.

On the plans for the rest of the year, Alawuba said, “As we approach the last quarter of the year, the Group remains strategically positioned to sustain the strong performance, consolidating on H1 2023 results, to deliver superior returns to our esteemed shareholders.”

Ugo Nwaghodoh, UBA ’s Executive Director Finance & Risk, said the half year 2023 financial numbers reflect an excellent performance across key metrics, as the bank diligently executes its strategic priorities.

“Our HY2023 financial numbers reflect excellent performance across key metrics, as we diligently execute our priorities for the year. Annualized return on average equity at 57.7per cent was bolstered by improved operating income and revaluation gains.” he explained. Nwaghodoh also pointed out that the Group maintains robust capital buffers to support business growth and loss absorbency. The Group’s shareholders’ funds stood at N1.7 trillion, with a capital adequacy ratio of 36.4 per cent.”