The Lion King | 17
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In November of 2013, when Sanusi was still CBN
Governor, he named 8 banks that he called
Systemically Important Banks (SIBs) that cannot
and will not be allowed to fail. One of the
banks was United Bank for Africa (UBA) Plc.
Read more on Thisday:
One of the key indices was that all
systemically important banks (SIBs)
should have a minimum liquidity
ratio of 35%. This means that the
banks should have enough money
to meet 35% of all their immediate
liabilities. As at the time CBN made
that requirement for SIBS, UBA’s
liquidity ratio was 55%, based on
the 2014 audited accounts.
Read more:
UBA still remains one of the most
liquid banks in the Nigerian
banking industry and a net placer
of funds in the interbank market.
Capital adequacy
ratio is another key
index to measure
the health of banks.
This usually shows
the capacity of
a financial institu-
tion to withstand
difficult times. The
CBN recommends
that banks have
a minimum of 12%
capital adequacy
ratio. UBA’s capital
adequacy is 17%.
This is one of the
highest in the
Nigerian banking
industry and well
above the minimum
required by the
CBN.
The amount of deposits
a bank mobilizes is a
good indication of the
confidence of the banking
public in that institution.
UBA’s total deposits stand
in excess of N2 trillion,
almost half of Nigeria’s
annual budget and one of
the highest in the Nigerian
banking industry.
UBA board is chaired by Mr.
Tony O. Elumelu, a serial and
very successful entrepreneur
who is known to be one of
the whiz kids that changed
the trajectory of banking in
Nigeria and is now a globally
recognized entrepreneur with
investments across the globe
in power, oil and gas, finance,
agriculture and many other
sectors. The board also has
many tested hands and
credible personalities with
great understanding of the
banking industry.
More on UBA Board members:
UBA has been around for more than
65 years and operates in 19 African
countries including Nigeria. The
bank also has operating offices in
New York, Paris and UK. This means
that UBA is subjected to the highest
regulatory standards. UBA therefore
ensures that its corporate governance
and risk management practices are in
line with the best globally.
UBA through the UBA Foundation
is a stronger supporter of the
communities in which it has
operations. UBA played a key
role in helping stem the spread
of Ebola in West Africa through
the donation of both cash and
materials to affected countries.
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A bank’s capacity to
support the economy is
also a major indicator of
how strong the bank is. UBA
is involved in almost every
single big ticket transaction
that takes place in Nigeria. If
a big ticket transaction is to
be executed in Nigeria, UBA
is always involved because
of its financial and human
capacity to handle such
big ticket transactions.
Read
More:
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UBA also actively
supports education
in Africa through
the National Essay
Competition for
Secondary schools
organized in Ghana,
Senegal and Nigeria,
and the Read Africa
Initiative which
encourages African
students to form a
reading habit.
Read more:
9
things you
should know
about UBA
