UBA rewards 100 customers with N100,000

Pan African financial institution, United Bank for Africa (UBA) Plc has again given its loyal customers reason to cheer as it rewarded 100 loyal customers with N100,000 each in the UBA Bumper account draw. The draw, which took place at the UBA head office on Tuesday, was held via Facebook platform in strict compliance with social distancing rules as directed by the federal and Lagos State Government where 100 more customers emerged winners through a transparent draw. When contacted, the customers, who emerged winners of the draw, agreed that the…

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8 banks incur N143.66bn credit losses

  Bad debts continue to take a toll on Deposit Money Banks (DMBs) in Nigeria as 2018 half year results of eight lenders indicate that they incurred a total of N146.25 billion in credit losses in the first six months of this year, New Telegraph has learnt. The DMBs are Zenith Bank, United Bank for Africa (UBA), Guaranty Trust Bank (GTB), FBN Holdings (First Bank of Nigeria Ltd), Access Bank, Ecobank Transnational Incorporated (ETI), Stanbic IBTC and Diamond Bank. However, in line with forecasts that high oil prices coupled with…

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Four new board members for UBA

The Board of Directors of the United Bank for Africa has announced the appointment of four new members to its board, subject to the approval of the Central Bank of Nigeria(CBN). The new board members according to a statement from the lender are Mrs. Erelu Angela Adebayo, Ms. Angela Aneke, Alhaji Abdulqadir Jeli Bello and Mr. Isaac Olukayode Fasola. These appointments according to the bank, follow the retirement of Mrs. Rose Okwechime, Mr. Adekunle Olumide, OON, Alhaji Ja’afaru Paki and Mr Yahaya Zekeri, with effect from August 30, 2018. “I…

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LEO: Why UBA won Euromoney’s best digital banking award

In furtherance to its dominance in the digital banking space, pan- African financial services group, United Bank for Africa Plc, was recently named Africa’s best bank in the digital category at the prestigious Euromoney awards in London. The Euromoney awards ceremony, which was held on July 11, covers more than 20 global product categories, best-in-class awards and the best banks in over 100 countries around the world. It also recognises institutions that have demonstrated leadership, innovation, and momentum in the markets in which they operate. In selecting its recipients, Euromoney’s…

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UBA, GTBank, Zenith, First Bank, Access make top 1,000 global banks’ list

  Nigeria’s tier one banks, UBA, GTBank, Zenith Bank, First Bank and Access Bank, are among African lenders, including ETI, that made The Banker magazine’s 2018 1000 global banks ranking.   A statement issued by the publication yesterday stated that Africa’s economic fortunes improved over the 2017 review period following a difficult couple of years in which lower commodity prices hit the performance of the continent’s largest markets.   It added: “This slowly improving economic climate is reflected in the growth trajectory of Africa’s banks, which have, across the board,…

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UBA Foundation expands ‘Read Africa’ initiative to Gabon, Zambia

As part of its mission to improve the lives of the communities in which the United Bank for Africa (UBA) operates, UBA Foundation has continued to encourage African youths to adopt the culture of reading through its ‘Read Africa’ initiative. According to the lender, the initiative designed and introduced in 2011 by the UBA Foundation, aims to rekindle the reading culture amongst young Africans and has donated hundreds of thousands of books to African schools since its inception. Last week, the Foundation took its initiative to the francophone city of…

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Phone misuse: UBA learning applications to the rescue

  Rather than serving its purpose of effective means of communication, the use of mobile phones, especially among children, has surprisingly done more damage than good. Some features on the mobile phones such as messaging, rogue websites, social media platforms, and the increasing number of cheap call and data rate packages by service providers, have significantly affected the children’s lifestyles and education. Worst hit is the nation’s education sector, as stakeholders have regrettably linked the rising cases of examination malpractices and students’ poor performance in external examinations to the negative…

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UBA introduces online learning platform to empower students

United Bank for Africa (UBA) yesterday introduced a unique and innovative product, called ‘UBA Learn’ targeted at helping students achieve all round academic success. In a statement, the lender said that the product, which is an online Learning Platform for students, is powered by Roducate and is aimed at helping students within the age range of 5-16 years and 17-24 attain academic excellence, while ensuring that the parents and teachers keep track and monitor their ward’s educational developments and performance. According to the statement: “UBA Learn is accessible online, through…

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GTB, UBA, 4 others pay N131.45bn tax

  Six of Nigeria’s biggest banks paid a total of N131.45 billion as income tax for the financial year ended December 31, 2017, an analysis by New Telegraph has shown.   The banks are Guaranty Trust Bank (GTB), Zenith Bank, United Bank for Africa (UBA), Ecobank Transnational Incorporated (ETI), Access Bank and Stanbic IBTC.   Details of the results showed that the banks paid government a total of N131.45 billion as income tax from the profit they posted for the year. The amount is 5.6 per cent above the N124.12…

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UBA posts N24bn Q1 ’18 PAT

United Bank for Africa Group (UBA) has released its unaudited first quarter 2018 results, showing a profit after tax of N23.736 billion as against N22.350 billion recorded in 2017, accounting for a growth of 6.20 per cent. Leveraging on strong growth in both interest and non-interest income, UBA grew top-line to N119.4 billion in the first three months of the year, ending March 31st 2018 and the Group recorded N26.6 billion in profit before tax, compared to N25.5 billion achieved in the first quarter of 2017. The Group also recorded…

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