UBA Recruits 4000 New Staff, Promotes Over 5,000 Staff members; increases Salaries Up to 170%.

Lagos, Nigeria, January 06, 2020: Over 5,000 staff of the United Bank for Africa (UBA) Plc, started the new year with a lot of cheer as the bank yesterday announced its promotion to new grades as well as salary upgrades with immediate effect this January.

Those who are beneficiaries of this exercise will receive up to 170% increase in their salaries and benefits, whilst a good number have been moved to higher grade levels.

In a carefully planned restructuring embarked upon by the bank in the last quarter of 2019, UBA has transformed its grading system and processes to become one of the most competitive within the industry. The bank crashed its grade levels to 12 levels from entry level to the top of the pyramid where previously it had been 16 levels. This means that staff will now find it much easier to attain top leadership management positions at UBA as their careers progress much faster.

In a massive recruitment drive , over 4000 new staff members resumed in the  last week of December 2019 in Nigeria alone at the bank. UBA currently stands as the highest employer of labour amongst Nigerian banks with a staff strength of close to 20,000.

UBA’s Group Managing Director/Chief Executive Officer, Kennedy Uzoka, who announced the bank’s new staff improvement initiatives to the excited employees , noted that UBA is continually seeking new ways to improve the fortunes of its staff as they are the backbone of the organisation .

Uzoka who spoke to the staff in a bank-wide live broadcast said, “As a leading financial institution, we do not take issues relating to our staff lightly.  We take great pride in being a listening bank that has the ears of our employees as they turn the wheels which make the organisation successful for our customers and shareholders. UBA recruits highly talented staff who perform at the best standards and deserve to be remunerated accordingly’

Continuing, Uzoka said ‘ we have also taken steps to ensure that our bank remains at the top tier as it relates to talent pool. We want to train the best and we have crashed the grade structure to make it easier and faster for our employees to progress along their careers. With this new grade structure, it will be possible for a new graduate employed at UBA to rapidly chart their own careers and become GMD by the age of 36.”

UBA is one of Africa’s leading banks with operations in 20 African countries. The bank also has presence in the global financial centres of London, New York and Paris.  UBA provides banking services to more than 17 million customers globally, through diverse channels.

UBA Delivers 21% Growth in Profit, 21.7% Return on Average Equity; Declares N0.20 Interim Dividend:

Kennedy Uzoka, GMD UBA Group

Tony Elumelu, Group Chairman 

Africa’s leading financial institution, United Bank for Africa Plc has announced its audited half year financial results for the period ended June 2019, showing impressive growth across key performance indices as well as a significant contribution from its African subsidiaries.

In spite of the increasingly unpredictable environment witnessed in some of its countries of operations, the pan African financial institution delivered double digit growth in its profit before tax as it rose by 21 per cent to N70.3bn for the half year to June 2019, up from N58.1bn recorded in the similar period of 2018, just as the Profit after Tax also improved to N56.7 billion, a 29.6 percent growth compared to N43.8 billion achieved in the corresponding period of 2018. The profit for the first half of the year, translated to an annualised return on average equity of 21.7 per cent.

According to its results filed with the Nigerian Stock Exchange, UBA recorded a 14 percent year-on-year rise in top-line, with gross earnings of N293.7 billion, compared to N257.9 billion recorded in the corresponding period of 2018. Analysts say that this result emphasises the capacity of the Group to deliver a strong performance through economic cycles in spite of the overall challenging business environment.

As at 30 June 2019, the Bank’s Total Assets grew by 4.8% crossing the N5 trillion mark to N5.10 trillion. Customer Deposits also rose by 4.8 per cent to N3.51 trillion, compared to N3.35 trillion as at December 2018. This growth trajectory underscores UBA’s market share gain, as it increasingly wins customers through its revitalized customer service culture coupled with innovative digital banking offerings. The bank’s Shareholders’ Funds remained strong at N542.5 billion, reflecting its strong capacity for internal capital generation.

In line with its culture of paying both interim and final cash dividend, the Board of Directors of UBA Plc declared an interim dividend of N0.20 per share for every ordinary share of N0.50 each held by its shareholders.

Commenting on the results, the Group Managing Director/CEO, United Bank for Africa Plc (UBA), Mr. Kennedy Uzoka said: “I am pleased with the half performance of the Group, having delivered 14% growth in gross earnings and 21% growth in profit before tax. Despite the subdued yield environment in some of our large markets, we achieved a 9% growth in interest income and defended the net interest margin. We also achieved a 39% growth in our electronic banking revenues, as we broaden and deepened our digital banking play across Africa. Revenues from our remittance and funds transfer businesses grew 69% and 53% respectively. All these factors attest to the efficacy of our strategies and the resilience of our business model.”

He further stated “I am very optimistic that the ongoing Group-wide transformation program, will in the quarters ahead, enable the Bank deliver substantial operational efficiencies and best-in-class customer service, which will ultimately boost earnings. We sustained our asset quality with the NPL ratio down to 5.62%, from 6.45% as at 2018FY. We will continue to adopt best practice standards to grow and manage the portfolio in the quarters ahead.”

Also speaking on UBA’s results, the Group CFO, Ugo Nwaghodoh said; “We had a strong start in the year given the prevailing macroeconomic environment across our various markets.  There is better diversification in profit contribution as our banking subsidiaries across Africa contributed 38% of the profit before tax, whilst our recently repositioned UK business contributed 4%. We expect this dispersion to continue, as the subsidiaries consolidate on their share of the various markets.”

“I am particularly delighted that the key ratios are trending in the right direction. The net interest margin is trending upwards and will continue to improve as we responsibly grow the risk asset portfolio and realign the funding mix to lower our cost of funds. The cost-to-income ratio trended down to 60% with our focus on balance sheet and operational efficiencies which should enable us deliver our medium term CIR target. Capital adequacy ratio increased to 28% from 23.6% in December 2018, providing  a very strong buffer for asset growth,” he stated.

United Bank for Africa, Africa’s global bank, was founded 70 years ago in Nigeria and today, operates in 20 African countries and in the United Kingdom, the USA and with presence in France. UBA serves over 17 million customers across the globe with more than 1000 branches and touch points. In 2018, the bank received the award of Africa’s Best Digital Bank by the Banker’s magazine.

UBA Premieres most Anticipated Men’s Club Season 2 Trailer

Lagos, Saturday 18th of May, 2019 was the definition of entertainment success. From the lights to setup, the atmosphere was filled with the euphoria of excitement. The wait was finally over, almost 6 months after the first season hit YouTube, The Men’s club, season 2 is set to launch.

In anticipation, a private screening was held at the IMAX Filmhouse cinema, Lekki. In attendance were the cast, crew and industry supporters. A little waiting room held a re-enacted set from the show’s opening montage, signature cocktails, mock tails  and delicious canapés were served. The Crème-de-la Crème of Lagos entertainment elites including Kemi Adetiba, Noble Igwe, Eku Edewor, Ashionye Raccah, Bola Atta and guests mingled and re-lived their favourite scenes from Season 1 through pictures and interviews.

At 7:30 pm, all guests were ushered into the main screening hall by the Creative Director of REDTV, Obinna Okerekeocha, intimating fans and guests present that the new Season was about to bring on a different dimension. ‘REDTV has taken drama to a different level and we aren’t scared to push the boundaries. Our vision at REDTV is to continually produce premium content for entertainment. The new season of The Men’s Club is real. Its aspirational and relatable. The cinematography and scores are top class and its wonderful to see how the lead actors have grown. This is going to be a bigger hit than Season one’ said Okerekeocha. He reminded everyone to spread the message and invite friends to subscribe on the REDTV.

As end credits from the show reeled on the screen, the room was filled with a resounding applause. In a thank you address, Bola Atta the Executive Producer expressed her uttermost joy as the show more than surpassed expectations. She thanked the United Bank for Africa(UBA) for the endless support to ensure the success of REDTV and congratulated Tola Odunsi and Akins Akinkugbe, co-producers of the The Men’s Club.

The curtains drew with a final address from Tola Odunsi and Akins ‘AK’ Akinkugbe returning immense gratitude to every single actor and crew behind the scene reminding guests that ‘it’s easy to see the finished show but every single person who contributes to the show makes the job worthwhile’.

The Men’s Club starring Daniel Etim Effiong, Ayo Ayoola, Efa Iwara, Baaja Adebule, Mimi Chaka, Sharon Ooja, Segilola Ogidan, Enado Odigie. This season hosts some new faces including Shawn Faqua, Ijeoma Aniebo, Somto Akanegbu as we follow the lives of 4 young men in Lagos, discovering love, breaking hearts and trying to find meaning to life through their daily experiences and encounters.

The new season drops on YouTube this Thursday 23rd, May on the REDTV channel.

REDTV is a fast paced lifestyle channel that puts Africa on the global stage. Proudly powered by the United Bank, UBA.

The network is here to entertain and inform with rich content that feature the very best of Africa focused on entertainment, fashion, news, design,
music, sport, movies and travel and much more.

REDTV collaborates with the most talented visionaries, creative minds daring to believe in a New Africa, putting together content that reflects it. Feel the Heat on REDTV.

UBA Group's AWESOME 70TH ANNIVERSARY & CEO AWARD 2019

Ooni of Ife, Jide Sanwoolu, Tony Elumelu, Sarkin Shanum of Kano, Alhaji Shehu Mohammed, representing Emir of Kano & Jim Ovia 

Maiden Ibru

Ooni of Ife, Tony and Dr. Mrs Awele  Elumelu 

Babajide Olusola Sanwoolu & Aremo Segun Osoba

Tiwa Savage performing

Mo Abudu, Ruth Osime & Timi Alaibe 

Omotola Jalade Ekeinde & Ojy Okpe with other guests

Ronke Ademiluyi & Bola Awosika

Truth be told, the UBA Group sure knows how to organise a party. So amongst all the banks or better still financial institutions in Nigeria they need to get an award or even awards for always organizing the best parties, events, occasions ever.

With billionaire banker cum businessman, 'Tony Elumelu' as the 'Group Executive Chairman' and with Kennedy Uzoka, one of the highest paid CEOs in Nigeria, whose annual take home is N139 Million Naira as the Group CEO/GMD, the bank seem to be in good hands and great health. So at least once every year, after working so hard through the financial year, there comes that period, that time that's set apart by the Pan African financial institution, which has one of the most impressive spread across the country and outside, and a financial institution that's one of the top 10 biggest banks in Nigeria, to let off steam and those that makes all the magic happen to be well patted on their backs or shoulders in a convivial atmosphere.

The annual event, always packs a whole lot of major punch. With top entertainment brought in to add good vibe, first class guests invited mixing with the top staff members and other members of the group. It is always one of those events to look forward to yearly. So this 2019 edition didn't disappoint at all in all ramifications. Eko Hotel Convention Centre was the right spot picked as the venue. And the place was packed out as expected.

At least, we saw 2 of the incoming new Governors, though they are still Governor elects for now, till they are sworn in. Babajide Olusola Sanwoolu of Lagos and Prince Dapo Abiodun of Ogun state were very present. They are both gradually becoming the most visible Governor elects in Nigeria right now. 3 of the royal fathers in the house that came were none less than his imperial majesty, Oba Adeyeye Enitan Babatunde Ogunwusi Ojaja II, the Ooni Adimula of Ile-Ife, his royal majesty, Oba Rilwan Osuolale Akiolu, the Oba of Lagos and his royal majesty and a Northern royal father we couldn't readily identify.

Some of the other important guests seen were none other than the billionaire Executive Chairman of the biggest bank in Nigeria, Zenith Bank in the person of Mr. Jim Ovia, former Secretary General of the Commonwealth, Sir Emeka Anyaoku, Mrs Maiden Ibru, Pastor Tunde Bakare of the Latter Rain Assembly, Bashorun Dele Momodu Zof Ovation Group, Fidelity Bank MD/CEO, Nnamdi Okonkwo, Nova Merchant Bank, Executive Chairman, Phillip Oduoza, former 1st lady, Onari Duke, top Nigerian actress Omotola Jalade Ekeinde and very many more.

Entertainment was provided by such power house musicians and entertainers like Wizkid, Tiwa Savage, Phyno, Olamide & Patoranking.

More incredible pictures after the break.

WHEN AFRICA'S TOP FINANCIAL INSTITUTION UBA PREMIERED "BLACK PANTHER"!

GMD Kennedy Uzoka

Tony & Dr Awele Vivian Elumelu

Tony Elumelu & Omoni Oboli

So it's not only individuals that have been mesmerised by the magic of probably the highest grossing movie ever "Black Panther", even institutions are falling over themselves to identify with the film! One of such institutions is none other than one of Africa's biggest financial institutions, the UBA Group, where Heirs Holdings boss, the incomparable Tony Elumelu is the Executive Chairman.

The bank sponsored a premiere of the soar away movie very recently at the IMAX cinemas Lekki phase 1, where they did a total take over of all the cinemas for the day and it had all the happening crowd in attendance, who did their best to look their Africa's best in their outfits, following the theme of Kings and Queens.

Some of those in attendance at the premiere were the likes of Tony Elumelu and his gorgeous medical doctor wife, Dr. Awele Vivian Elumelu and their daughters, also there was the Group MD of UBA, Kennedy Udoka and his wife Lotanna, also there expectedly was the EbonyLife TV founder Mo Abudu, actress and film maker Omoni Oboli, Ebuka Obi Uchendu who was the night's host, Noble Igwe, Lala Akindoju, DMD UBA Group, Victor Osadolor, Eyinna Nwigwe, Ruth Osime, OC Ukeje, Michelle Dede and very many others.

More pictures after the break.

BILLIONAIRE BANKER TONY ELUMELU RESSURECTS AS THE KING OF POP- MICHAEL JACKSON

Tony & Dr. Elumelu

Day was Saturday, December 16, 2017. Event was the annual UBA end of the year/Xmas party. On the stage and the cynosure of all eyes was none other than banker extraordinaire, billionaire boss and chairman of Heirs Holdings, who also doubles as the Group Chairman of UBA Plc, Mr. Tony "MJ" ELUMELU. Party dress theme was disco era.

That he is a fan of the "king of pop, Micheal Jackson" is a known fact that's well celebrated, but that he could and would channel the man who used to be known as the king of the stage, the dance machine, the ultimate performer, the man idolised the world over for his singing and equally incomparable dancing ability was both a shock and at the same time hilarious to the marrow!

The normally very suave, and quite reserved top notch businessman on the day and at the event shed the toga of the reserved gentleman and instead wore his dancing and magical shoes ala MJ at one of his shows. Elumelu fully channeled MJ in his dressing and even performing on stage to the delight of all.

Just imagine that the 54 year old businessman and philanthropist, even wore the one handed bejewelled glove and even the hat, MJ sometimes wore for his performance which he would now throw away; not just that TE even did the crotch grabbing move very synonymous with the "stage god".

It was both fun and hilarious to the highest height. While Tony was the only one on stage at the beginning, others later joined him to reach the climax of the performance.

Kudos. If there was another job that the consummate banker could have excelled in and very well at that, it would have been entertainment.