Banking
Gauging Leaps and Bounds of UBA Plc, Lion of Africa’s Banking
The United Bank of Africa has once again asserted its position as the lion of Nigeria’s banking. Most analysts agree on that, looking at the way it cut through on economic headwinds in the first quarter of 2017.
Quarterly reports, ratings, peer competitiveness, ready shareholders, and a motivated workforce are reasons the UBA will do better as leadership and market share go.
Ending 2016 with N384 billion in earnings, which was 22 percent increase from 2015’s figure, and a 32 percent rise in profit after tax to N91 billion, the bank ramped up N23 billion in the first quarter of 2017. That is 41 percent growth compared to the first quarter of 2016.
“Our performance in the first quarter of the year strengthens our optimism on economic and business recovery in Nigeria and many of our markets across Africa,” said Group Managing Director, Mr Kennedy Uzoka.
“More importantly, this result is evidence of efficiency gains in our pricing, balance sheet management and operations.”
While its Nigerian operations strengthen in terms of bottomlines, the overseas branches are equally faring well.
According to Mr Uzoka, the bank’s external operations contribute 35 percent of its earnings.
“We remained prudent in risk asset creation growing net loans by 2% year-to-date, as we have continued to monitor development in key sectors of the economy to take advantage of emerging bankable opportunities in due time,” he said while commenting on the quarterly report.
The UBA operates in 19 countries across Africa, and has branches in New York, London, and Paris. It serves millions customers in over 1000 business offices and centres where it carries out its retail, commercial and corporate banking, cross border payments and remittances, trade and finance, and other banking services.
Its flying start in 2017 further gets confirmation from Standard and Poor’s early in the month.
According to the international rating agency, the UBA is rated ‘B’ in long-term and ‘B’ short-term global scale counterparty credit ratings.
Analysts at Proshare said S&P’s ‘B’ rating is the highest rating currently assigned to any Nigeria-based financial institution.
“It thus reinforces the respectable quality and strength of UBA, the third largest Nigeria-based bank by total assets, deposits and profits,” the analysts said.
S&P also confirmed that UBA’s earnings will be resilient despite the economic slowdown in Nigeria. “We believe the bank’s capital and earnings under our risk adjusted capital and earnings framework will remain moderate over the next 12-18 months, with its capital adequacy ratio remaining well above minimum regulatory requirements,” the ratings agency noted.
The bank’s capital adequacy ratio was 19.7 percent at year-end 2016, way above the regulatory minimum of 15 percent. S&P believe it will remain stable over the next 12-18 months. Its showings in other indices are also superlative. Its credit losses to decline to about 1.0% in 2017-2018; its average liquidity ratio is doing well, 42 percent as of 2016; it has a stable funding ratio of 143 percent as of last December, thus becoming one of the lowest levels of loan leverage in Nigeria.
It has been a sustained rally for the bank. Which is a mark of its competitiveness in any situation. In the midst of decline Nigeria’s economy experienced last year, UBA still managed to tide over so well that it won five plaques in the Bank of The Year 2016 country awards in Gabon, Congo-Brazzaville, Senegal, Cameroon and Chad at the last annual Bankers Award in London.
Achievement trainers will make us such feat is possible when an organisation has a water-tight philosophy of goal getting. Well, the UBA has one: the three E’s—Enterprise, Excellence, and Execution.
But the GMD thinks that is not all. So he dedicated the awards to the customers whose loyalty, support and patronage, according to him, remain the fountain of the group’s growth and competitive edge in the African continent.
The UBA has over 14 million customers in Africa only. And they are well served by a synergy if technology and an army of highly motivated staff. It means a lot to the bank, especially the GMD, that its human resources remain in high spirits. As the 2016 annual report came out, and shareholders got over N19 billion in dividends, no fewer than 3000 staffers got promotion, too.
“Investment in our human capital is critical to our success,” said Mr Uzoka.
“It is a product of our ability to invest for the long term and create an institution that is built to last. It is the bedrock of our determination to be Africa’s leading customer focused bank.”
All thing being equal, the second quarter reports can only get better.
Source: National Daily
By Adedapo Adesanya
Top financial services provider in Nigeria, Stanbic IBTC, has reiterated its commitment to empowering businesses, strengthening key sectors and positioning Nigeria as a competitive player in the global economy.
This came on the back of the 2026 edition of the Nigeria Business Summit from Wednesday, April 1 to Thursday, April 2, 2026, at the Landmark Event Centre, Victoria Island, Lagos. The two-day summit brought together industry leaders, policymakers, entrepreneurs and stakeholders across multiple sectors to explore sustainable business practices, foster economic growth and unlock global trade opportunities.
With the theme, Nigeria Means Business: Powering Sectors, Growing Sustainable SMEs & Unlocking Global Trade, the summit addressed critical issues across key sectors, including agribusiness, renewable energy, trade and Africa–China banking, as well as ICT and telecommunications. Additional sessions covered areas such as family business sustainability, artificial intelligence, employee value banking, insurance, pension and wealth management.
The event featured a keynote address by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, who emphasised the urgent need for Nigeria to reposition itself as a leading export-driven economy to achieve sustained growth.
“Our true potential lies in becoming a leading export economy,” Edun stated. “Increased participation in regional and global trade will be critical to diversifying foreign exchange earnings and driving inclusive growth.”
He noted that while Nigeria’s GDP growth has improved to approximately 4 per cent, it remains below the level required to significantly reduce poverty. According to him, the country’s economic strategy is now shifting from stabilisation to growth acceleration, with trade expansion playing a central role.
Mr Edun highlighted ongoing reforms, including improved foreign reserves, rising non-oil revenues and renewed investor confidence, as indicators of a more resilient economy. However, he stressed that enhancing trade competitiveness would require continued investment in infrastructure, logistics and policy coordination.
He also highlighted the importance of small and medium-sized enterprises (SMEs), which account for over 90 per cent of businesses, noting that inclusive growth will depend on stronger collaboration between the public and private sectors.
Participants engaged in a rich line-up of activities, including expert presentations, panel discussions and high-level networking opportunities. Highlights of the summit included the Africa Trade Barometer presentation, client testimonial showcases and insightful discussions on the state of the African economy and intra-African trade opportunities.
Breakout sessions on agribusiness, ICT and healthcare, Africa-China banking and trade, as well as renewable energy, provided attendees with deeper, practical insights into some of the most critical sectors driving Nigeria’s economic future.
Speaking at the event, Mr Chuma Nwokocha, chief executive of Stanbic IBTC Holdings, represented by the organisation’s Chief Finance and Value Management Officer, Mr Kunle Adedeji, emphasised the importance of collaboration and innovation in driving sustainable growth.
“This summit has reinforced the importance of creating platforms where ideas can flourish, and businesses can grow sustainably. By working together, we can unlock new opportunities and drive economic advancement across Nigeria and the African continent,” he said.
The summit also spotlighted practical strategies for integrating sustainability into business operations, encouraging organisations to adopt environmentally conscious practices while maintaining profitability and competitiveness.
Mr Remy Osuagwu, Executive Director, Business & Commercial Banking, expressed satisfaction at the level of interest from participants, a critical element for a successful summit.
“From our conversations on energy and healthcare to the deep dives into trade, Africa-China relations, and agribusiness, Day 1 has offered perspectives that were both insightful and practical. I believe we’re all leaving with a stronger understanding of the opportunities emerging across our industries,” he said.
He acknowledged the level of engagement, questions, contributions and willingness of participants to share experiences, describing this as the real power of the Nigeria Business Summit, and a solid foundation for tomorrow.
The Chief Executive of Stanbic IBTC Bank, Mr Wole Adeniyi, who was represented by Mrs Bunmi Dayo-Olagunju, Deputy Chief Executive of Stanbic IBTC Bank, opened Day Two of the Nigeria Business Summit by highlighting the focus of the summit’s SME Day.
“Today, we build on Day One’s momentum with conversations that are equally critical for the future – from the dynamics of family businesses to the growing influence of artificial intelligence; the evolution of insurance, and the emerging space of electric vehicle banking.”
She further added, “Our goal on Day Two is simple: to explore what’s next. To understand how these developments will shape our businesses and how we can position ourselves ahead of the curve.”
By Dipo Olowookere
Tech enthusiasts interested in participating in the Take on Squad Hackathon, organised by Guaranty Trust Holding Company (GTCO) Plc, can now enter the contest via the official portal at https://squadco.com/hackathon.
The programme enters its third edition in 2026, and the theme for this year is Smart Systems: The Intelligent Economy, according to a statement issued by the organisers.
The hackathon brings together developers, designers and entrepreneurs across Nigeria in a collaborative environment to build practical solutions across key sectors, including financial services, healthcare, commerce and digital inclusion.
Participants are challenged to design and build intelligent, data-driven solutions that transform how communities engage with money.
It is part of the organisation’s commitment to fostering innovation, empowering talent, and supporting the development of technology-driven solutions that address real-world challenges across Africa.
“Today’s dynamic, digitally driven world demands continuous innovation, which is shaping how economies grow, how businesses scale, and how societies evolve.
“Through Take on Squad Hackathon, we are deliberately investing in the ideas and talent that will define the future.
“Our objective is not simply to encourage innovation, but to enable its translation into scalable solutions that deliver real and measurable impact.
“This reflects GTCO’s role as a financial services platform that connects capital, capability, and creativity to drive sustainable progress,” the Managing Director of HabariPay, Ms Eduofon Japhet, stated.
The social coding event remains a cornerstone of HabariPay’s mission to foster creativity and problem-solving among emerging tech talents. Competing teams will leverage Squad’s advanced APIs to create scalable digital tools that address everyday challenges faced by businesses and individuals.
Through initiatives such as this, GTCO continues to position itself at the intersection of finance, technology and enterprise, actively shaping the future of digital transformation in Africa.
By Dipo Olowookere
Banking services will not be interrupted throughout the Easter public holidays, from Friday, April 3, to Monday, April 6, 2026, for any reason, Ecobank Nigeria has assured its customers.
In a message over the weekend, the member of Africa’s leading pan-African banking group, Ecobank Transnational Incorporated, said customers would continue to enjoy quality service delivery during the period.
It noted that its secure and robust digital platforms would remain fully operational to support financial activities during the festive period.
All digital channels, including the Ecobank Mobile App, Ecobank Business App, USSD *326#, Ecobank Online, OmniPlus, Omnilite, EcobankPay, Ecobank Cards, ATMs, PoS terminals, and over 35,000 Ecobank Xpress Point agent locations nationwide, will remain accessible throughout the holiday, the financial institution further said, urging customers to conveniently conduct transactions at any time using this wide range of digital solutions.
Ecobank customers were encouraged to maximise the bank’s alternative channels for transfers, bill payments, airtime purchases, card services, and account management.
They were also advised to stay vigilant by shopping only on trusted websites; avoiding the sharing of PINs, passwords, and one-time passwords (OTPs); refraining from banking on public Wi-Fi networks; being cautious of urgent or emotionally charged messages; and regularly monitoring their account activity.
“Customers will continue to enjoy a full bouquet of services during the holiday, including local and international funds transfers, bill payments, airtime top-ups, merchant payments, balance enquiries, account statements, and cardless cash withdrawals via ATMs,” the Head of Products & Analytics, Consumer & Commercial Banking at Ecobank Nigeria, Mr Victor Yalokwu, stated.
“We understand that festive seasons come with increased financial activity, and our priority is to ensure our customers enjoy fast, reliable, and secure banking wherever they are.
“Our digital channels are designed to support uninterrupted transactions, and we have strengthened our systems to guarantee optimal performance throughout the Easter break,” he added.
Mr Yalokwu noted that, “Ecobank remains committed to providing innovative financial solutions and exceptional customer service. We wish all our customers and partners a peaceful and joyful Easter celebration.”
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