2 | The Lion King
How are we doing?
T
ime flies. It is already three
months into 2014 and I will like
to use this opportunity to re-
mind everyone of the important
strategic goals we set for our-
selves last year as part of PRO-
JECT ALPHA, our 3 year initiative
to achieve industry leadership by
2015.
At our last annual strategy session
held in November 2013, we all
agreed on a Profit before Tax tar-
get of N106 billion and a deposit
target of N3.0 trillion for the year
2014.
Delivering on these corporate tar-
gets will require us consolidating
the progress made in 2013, adopt-
ing a “very aggressive approach”
to market this year, and above
all maintaining a disciplined ap-
proach to the execution of our
agreed strategic initiatives.
We agreed to focus on:
• Growing low cost non-Public
sector deposits
• Enhancing UBA’s treasury
income
• Becoming the leading trade
bank in Africa
• Increasing our credit play
through increased but
cautious participation in the
emerging growth sectors
• Eliminating loss making across
Africa and consolidating the
competitiveness of our African
subsidiaries
• Turning-around of all loss
making branches
• Profitably leading in the
e-banking space
• Addressing people issues for
improved staff productivity
• Enhanced customer service
orientation and practice
• And above all, reinforcing our
Organisation’s core values
Our ability to maximise the bene-
fits of the agreed PROJECT ALPHA
priorities for 2014 will be heavily
dependent on our exhibition of a
shared sense of ownership, which
looks above self and consistently
seeks the best interest of the Bank
in the quest to deliver superior
tangible benefits to our customers
and other stakeholders.
Our goals are clearly defined. Our
job will be to provide our custom-
ers with the best service and most
comprehensive financial solutions
while managing our costs and
enhancing our brand.
It is imperative that we continually
improve the quality of our service
delivery both internally and exter-
nally by being passionate about
exceeding the expectations of
our customers.
This calls for a greater commit-
ment from all of us, to work to-
gether to contribute significantly
to the achievement of our targets.
One of the key foundations of
PROJECT ALPHA is creating a high-
ly motivated workforce to serve
as the main drivers of our business
success. Success starts with our
self-belief and capabilities. Man-
agement will continue to support
the promotion of a conducive at-
mosphere where staff can deliver
on our committed goals.
I want to extend my deep appre-
ciation to all Lions and Lionesses
for their commitment, dedica-
tion and resilience so far. There
are about nine more months left
in the year. Let us all make these
months doubly count in our con-
tribution to our PROJECT ALPHA
goals.
Thank you.
Phillips Oduoza
GMD/CEO
GMD’s Message
