Speaking at the bank's Annual General Meeting, held at the
Speaking at the AGM, National Coordinator, Independent Shareholders association of
Giving the Bank's scorecard for the year under review, Chairman, Ambassador
Speaking on the bank's financial performance, he said, the
"The headline performance was buoyed by growth in interest income and non-interest revenue. Loan growth and improved pricing boosted interest income which grew by 24%, whilst Non-interest income grew by a modest 15%. Profit before income tax was up by 8% to N56.1 billion compared to N52.0 billion in the prior year (2012)."
"We believe the bank is poised to deliver better performance in 2014 as the underlying momentum of the Group's business continues to be robust," Ambassador Keshi said.
Also speaking during the AGM, Group Managing Director and Chief Executive Officer,
Oduoza emphasized that while key strategic imperatives as defined in 2013 remains the major thrust for the actualisation of the bank's "PROJECT ALPHA" corporate goals, management will leverage on the viable platform established in 2013 to further consolidate on the current growth momentum.
"We will adopt a very aggressive approach to market and ensure focused implementation of our strategic priorities, to drive achievement of our corporate targets," he added.
He disclosed that as a proactive Bank, UBA has adequately resourced and re- aligned its structures to optimise emerging opportunities arising across all the regional blocs, while also adopting appropriate risk management frameworks to mitigate likely exposures in its operations both within the local and global environment//end.
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