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T
h e Nigeria High Commission in
Ghana on April 7, 2012 honoured
UBA Ghana with a Distinguished
Achievement Award at the La Palm
Royal Beach Hotel in Accra Ghana.
The award which coincided with the
launching of a book titled: “Nigeria
Diplomatic Footprint in Ghana; the
Obanikoro years”, had in attendance
distinguished patrons from the Nige-
rian social, political, entertainment and
business communities in Ghana.
U
BA Ghana has joined the top-ten
banks in the country in terms of
profitability, Mr. Oliver Alawuba,
MD/CEO of the bank, has said.
The company’s annual report and finan-
cial statements for 2011 shows it record-
ed a profit before tax of GH¢30.2million,
against GH¢13.9million in 2010. This repre-
sents an increase of 143% over the previ-
ous year.
Profit for the year after tax also in-
creased from GH¢9.2million in 2010
to GH¢22.4million. Deposit volume in-
creased to GH¢404.6million from a previ-
ous GH¢311.2million.
A decrease in interest income margins
last year presented an opportunity for the
bank to go into fees and commissions.
About 57% of the bank’s income during
the 2011 financial year came from fees
and commissions, a trend which would
continue, according to Mr. Alawuba.
The bank’s improved risk analysis and
prudent measures contributed in reduc-
ing its non-
pe r f o rm i ng
loans (NPLs)
from 19% in
2010 to 7.91%
during
the
2011 financial
year.
M
D/CEO of UBA Africa, Mr. Gabriel Edgal in company
of UBA Kenya’s MD/CEO Mr. Tunji Adeniyi and an Ex-
ecutive Director, Mr. Binay Dutta on May 9, 2012 held
a strategic meeting with Kenya’s Minister for Energy, Honour-
able Kiraitu Murungi to deliberate on the exponential growth
of the energy sector in Kenya and the value proposition that
UBA can extend to the Ministry given UBA’s huge balance
sheet and its capability to finance Kenya’s Energy Projects.
The Minister acknowledged UBA’s extensive experience in
crude oil financing and storage development financing, hav-
ing financed huge projects such as the $300million facility for
the Ivory Coast refinery. He highlighted some available op-
portunities like development of an infrastructure for payment
and collections so as to streamline revenue collection for the
Ministry.
Expressing his gratitude for the visit, the Energy Minister reas-
sured the UBA team of their Government’s readiness to part-
ner with the Bank.
News Round Up
UBA GHANA WINS
DISTINGUISHED
ACHIEVEMENT AWARD
Nigerian High Commissioner to Ghana, His Excellency, Senator Obanikoro presenting an award to
Felix Igbinosa, Country Head, Audit &Internal Control, UBA Ghana
UBA JOINS TOP 10
BANKS IN GHANA
Mr. Oliver Alawuba,
MD/CEO, UBA
Ghana
L-R: UBA Kenya ED, Mr. Binay Dutta; Permanent Secretary, Ministry of Energy, Kenya, Mr.
Patrick Nyoike; MD/CEO, UBA Africa, Mr. Gabriel Edgal; Kenya’s Minister of Energy, Hon
Kiraitu Murungi; CEO/MD, UBA Kenya, Mr. Tunji Adeniyi and Mr. Michael Njeru
MD/CEO OF UBA AFRICA LEADS TEAM
TO VISIT KENYA’S MINISTER FOR ENERGY