28 | The Lion King
UBA Hosts
Social Media
Summit for
Nigerian
Journalists
U
BA recently hosted more
than 130 journalists in
Nigeria to a one day
summit on Functional Social
Networking. It was one of the
largest gatherings of senior
journalists in Nigeria with
representations from both
traditional print and electronic
media as well as from the New
Media community.
Also present were academics
and students from the top
journalism schools in Nigeria
including; the School of Media
and Communication at the Pan
Atlantic University, the University
of Lagos, as well as from Caleb
University and Lagos Polytechnic.
GMD/CEO, Mr. Phillips Oduoza in
the opening remarks, highlighted
the “disruptive changes” going
on in the media space globally
while noting the attendant
opportunities for innovative
media companies to excel.
The aim of the summit was to
make journalists more social-
media friendly and savvy, and
also improve the understanding
of media owners of the social
media space and how to take
advantage of it.
Dr. Yinka Adedeji, Divisional
Head, e-banking also made
a presentation on the bank’s
e-banking offerings.
GMD/CEO, UBA Plc, Mr. Phillips Oduoza (5th left); flanked from left by Ace Columnist, Alhaji
Mohammed Haruna; MD, Leaders and Company, Mr. Eniola Bello; Former Managing
Director, Sun Publications , Mr. Tony Onyima; DMD, Mr. Kennedy Uzoka; Special Adviser to
Lagos State Governor on ICT, Mr. Lateef Raji; and Editor-in-Chief, Vanguard Newspapers,
Mr. Gbenga Adefaye, at the Summit on Functional Social Networking for Nigeria Journalists
JP Morgan Remains Bullish on UBA
A
nalysts at the global
investment banking
giant, JP Morgan, have
identified UBA Plc as one of
most attractive banking stocks.
In its equity research report for
Central and Eastern Europe,
Middle East and Africa
(CEEMEA) titled “Nigerian
Banks: thoughts around policy
action on the CRR”, the United
States of America (USA)-based
investment powerhouse stated
that UBA, under the current
industry scenario is among its
top most “favoured banking
stocks”
In the report, which followed
the move by the Monetary
Policy Committee (MPC) of the
Central Bank of Nigeria (CBN),
to hike the Cash Reserve Ratio
(CRR) of public institutions
deposits, from 50 percent to 75
per cent, JP Morgan noted that
the policy would impact the
bottom line of banks but less
so for United Bank for Africa in
2014.
Also analysts at BPI Capital
have commended the bank’s
low risk lending strategy noting
that over 60% of UBA loan book
is geared toward corporates,
which makes its loan book
relatively low risk. The bank’s
2013 full year results shows that
Non-Performing loans ratio has
dropped at an industry low of
1.19%, one of the lowest in the
African banking industry.
The bank was also able to
improve another significant
index as cost-to-income ratio
dropped to a low of 60.9% in
full 2013 from 64.8% in full year
2014.
The full year results shows a
profit before tax of N56 billion
in 2013, representing a 7.08%
increase over the N52 billion
profit before tax in 2012. The
bank also closed the year with
a total assets of N2.64 trillion,
an increase of 16.23% over the
N2.27 trillion in 2012 while total
equity increase by 22.1% to
N235 billion.
News Round Up
