Vigorous investments into tech-based innovations, tailored products and robust performances amid the resurging pandemic years have repositioned United Bank for Africa (UBA) on the path of sustainable growth, a new journey that will create more value to its customers and investors.
To this end, the bank says it remains committed to spearheading efficiency in both process and cost with streamlined operations that offer superior service experience and ensure value for money.
“The year 2022 presents enormous opportunities to consolidate the gains made in the past; we will work to strongly transform our banking operations and processes as we keep building a global bank,” Managing Director, Chris Ofikulu, said at the bank’s annual general meeting in Accra.
He added: “Our focus is to elevate customer service to an excellent level, especially in a highly competitive service industry with homogenous products and near similar technology.”
According to Mr. Ofikulu, the bank will also adhere strictly to regulatory and internal corporate and compliance guidelines policies to ensure tolerance for infractions as well as build and maintain strong key stakeholder relationships across board.
“As a bank, we remained steadfast in the review year to confront all the challenges and worked assiduously to deliver sustainable long-term value to all stakeholders,” he said of the impressive performance.
UBA impressively grew its balance sheet by 36percent from GH₵3.95m in 2020 to GH₵5.37m in the year under review whilst customer deposits surged by over 46percent to GH₵4.1bn for same period amid the resurging pandemic.
Prudent, efficient and effective risk management measures that were implemented by the bank also drove down non-performing loans drastically from 44.3percent in the year before to 29.4percent in 2021.
There was also growth in the areas of total assets and shareholders’ funds which hit GH₵5.373m and GH₵1.032m respectively from GH₵3.950m and GH₵993m in the previous year, and recorded a profit after tax of GH₵141.7m.
