30 | The Lion King
News Round Up
UBA Senegal
wins “Bank
of the Year”
again
UBA Kenya Wins the Facilitation
- Automation Award
F
or the second consecutive
year, UBA Senegal has won
the “The Bank of the Year”
award in Senegal. The Bank
of the Year awards, which is
in its 14th year, is organized by
the “The Banker” a magazine
published by London based
Financial Times.
UBA’s Deputy Managing Director,
Kennedy Uzoka, received the
award on behalf of the Group
at a prestigious black tie award
dinner in London.
In the citation “The Banker”
acknowledged the fast pace
growth in UBA Senegal’s
profitability.
“Since first becoming profitable
in 2011, two years after it started
U
BA Kenya has won the 2013 ‘Distinguished Tax Payer:
Facilitation – Automation Category’ award for facilitating
the automation of integrated tax collection system in
operating, UBA Senegal has come a long way. The subsidiary of
Nigeria’s United Bank for Africa made net profits of $2.8m in 2011. A
year later, these rose to more than $8m, amounting to a hefty return
on equity of 50% and making it more profitable than some of its far
larger rivals in the West African country” it said.
The magazine also noted that “UBA Senegal has become one of the
fastest growing banks in the Senegalese market over the past three
years.
collaboration with the Kenya
Revenue Authority (KRA).
The award was personally
presented to the bank in Nairobi
by His Excellency, President Uhuru
Kenyatta at the opening ceremony
of the Kenya annual Tax payer’s
appreciation day.
Speaking at the ceremony,
President Kenyatta commended
UBA Kenya for its compliance with
the country’s code of ethics and
corporate governance, noting
the bank’s support to KRA to build
and implement the Electronic Tax
Payment Platform (iTax).
MD/CEO, UBA Kenya, Mr. Tunji
Adeniyi while receiving the award
pointed out that the Bank will take
advantage of the partnership and
opportunity to enhance the size and
efficiency of the UBA Balance Sheet
by generating low cost tax deposit
floats.
L-R: MD/CEO, UBA Kenya, Tunji Adeniyi receiving the award for the 2013 ‘Distinguished
Tax Payer: Facilitation – Automation Category’ presented to the Bank in Nairobi by
His Excellency, President Uhuru Kenyatta of Kenya at the opening ceremony of the
Kenya annual Tax payer’s appreciation day
L-R: Paul Wallace, Africa Editor of The Banker/FT; Ebele Ogbue, Managing Director/CEO,
UBA Capital (Europe) Limited; Kennedy Uzoka, Deputy Managing Director, UBA Plc, with
the ‘Bank of the Year’ award plaque won by UBA Senegal and Michael Buerk, the award
host, during the presentation ceremony held at Intercontinental Hotel Park Lane, London
