Big ticket funding drives UBA loan book by 42% to N971 billion


Several big ticket transactions executed United Bank for Africa Plc in 2013, especially in the power, oil and gas sectors  have led to a significant expansion of its loan book by 42% to a new high of N937 billion in 2013.
Phillips Oduoza,GMD/CEO, UBA Plc 

The bank’s full year financials released to the Nigerian Stock Exchange (NSE) confirms management assurance made in early 2013 to increase its lending support to critical sectors of the Nigerian and African economy. UBA Plc has business operations in 18 other African countries outside Nigeria.

Phillips Oduoza, GMD/CEO UBA Plc, had revealed in 2013 that the bank committed $700 million in funding to the power sector privatization exercise in Nigeria, financing different investors to acquire the power assets put on sale by the Federal Government of Nigeria (FGN).

Some of the major deals UBA actively participated in the power sector include taking up $120m (N19.44bn) of the financing in respect of Transcorp Ughelli Power Plant. 

The bank also acted as Mandated Lead Arranger, underwriting the entire facility of $122m (N20bn) for Kann Utilities’ acquisition of the Abuja Electricity Distribution Company, financing the payment of 75% acquisition of 60% equity stake in Ikeja Electricity Distribution Company while the bank also   threw its financial weight behind Aura Energy for the Acquisition of Jos Electricity Distribution Company, acting as the lead arranger for N9.6 billion to finance the payment of 75% of Aura’s 60% equity stake in Jos Electricity Distribution Company.

UBA also successfully arranged debt financing of US$68m as well as secured equity investment from a strategic and technical investors for the acquisition of the Shiroro Hydroelectric Power Plc by North South Power Company Limited.

The significant increase in lending had a positive impact on the bank’s released financials with interest income rising significantly by  23.8% to N186 billion while fee and commission based income rose 5.1% to N50.01 billion. The bank's lending  provides a source of consistent cash flows into the future. 

Analysts were also impressed with the bank’s lending process as despite the significant increase in lending portfolio, the bank has been able to reduce the incidence of non-performing loans on its books well below the industry average and regulatory threshold. The bank’s financial results shows that non-performing loans averaged 1.19% only in 2013, one of the lowest in the banking industry and well below the regulatory threshold of 5%.

Loan to deposit ratio at 44.3% also represent a significant low in the banking industry, giving it strong headroom to keep expanding its lending portfolio. The financials also showed a healthy liquidity position with a liquidity ratio of 55% as at full year 2013, well above the regulatory minimum of 25%.

UBA’s full year results shows gross earnings rose 20.24% to a new high of N264 billion in 2013 from N220 billion in full year 2012 while the bank announced a profit of N56.06 billion  for the year, representing an increase of 7.8% over the N52.01 billion profit recorded in the corresponding period. 

Speaking on the results, Phillips Oduoza, GMD/CEO of UBA Plc, said that the bank’s customer-focused, Corporate Banking and Treasury led business model drove its success for the year.

“UBA had a good performance for full year 2013. This performance puts us in a position to continue to pursue our goal to achieve Industry leadership in the medium term. We were also able to gain considerable strides in our project Alpha initiatives by improving customer service delivery and leveraging our balance sheet to participate in emerging growth sectors of the economy.” Oduoza explained.


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. 
Share on Google Plus

About Blogger@UBA

12 comments:

  1. I appreciate you and I would like to read your next post. Thanks for sharing this useful information.
    when you start a business then at first you need every business related news. we find a real news that help for your business.
    forex factory news, financial news, forex trading

    ReplyDelete
  2. Very well said. These tips are really amazing. I appreciate it for sharing them.
    Aim financial news
    AIM Mining news
    AIM Small cap shares

    ReplyDelete
  3. Thanks for taking the time to discuss this, I feel strongly about it and love learning more on this topic.
    Positive cash flow investments USA

    ReplyDelete
  4. Great post, I appreciate you and I would like to read your next post. Thanks for sharing this useful information.
    Aim financial news
    AIM Mining news
    AIM Small cap shares
    Blur Group
    Fastnet oil
    Comms plc

    ReplyDelete
  5. Hello!!! Do you want to be a member of the great illuminati and start receiving 50,000,000,00USD monthly and be popular among others and have riches and fame,,this is the only chance of being a member of the illuminati..I was sent by the freemason high chief to bring 52 members into the illuminati,I have gotten 32,so we looking for 20,,so try and be among the twenty  people to be rich,wealthy and famous beyond measures,and your heart desires be granted unto you. Call at;+19149203849 WhatsApp us on +2348032496611 OR Email us on:{powellscottilluminati666@gmail.com} so we can begin the joining process!!!

    ReplyDelete
  6. Hello viewers, it is unfortunate that our secret fraternity have become what most people now use as there aim of getting money, I would say sorry to those who have falling to the once who claim of being an agent of our secret fraternity called Illuminati, any Illuminati member who doesn't show you his or her identity card is a fake and besides avoid those claiming a real agent on facebook there is no real agent on facebook due to the issue of fraudulent. The Illuminati is mainly from Egypt and Kenya, and note that our present head office is now in USA, it is no longer in UK again due to the fraudulent that are now existing there. there are only five agent which was recently send to Nigeria to establish the church of Lucifer over here. And the other thing is that we the real Illuminati are scarce and very have to identify , you can only identify us with our email address and our head office cellphone number which is +19162779776 and our Email ID which normally include "666" on it, and please for those who haven't yet be scammed and are willing to join, please be careful cos there are alot of fraudsters and so many imposter now who claims they are real. So now I will want those who are interested to hit this email address: illuminatiword0666@gmail.com, for the link on how to join our fraternity or hit us a message on our whatsapp with this number +2348119239306 for quick conversation on how to start. And there are still alot of fraudsters on whatsapp now and please you shouldn't add anyone on facebook or email any how, make sure you are terrified with it before you make any attempt, so be careful and also please beware of fraudsters..

    ReplyDelete

  7. WELCOME TO THE GREAT ILLUMINATI BROTHERHOOD!!!

    Note:Never before have we sought out,in any outlet be it traditional print or digital media,a new membership,available to the public.But we now realize that the public is who seeks knowledge and wishes to use it in a way that helps the masses become enlightened,and live in a way that enlightened ones do....Are you a business owner,politician,Musician,Student,Athlete etc...In search of fame,power and money desperately.And you are finding it very difficult to achieve in life.Note that You can fully accomplish your all your dreams and heart desires by being a member of the great brotherhood of Illuminati.ALSO NOTE THAT AN INSTANT SUM OF $5,000,000.00,A CAR OF YOUR CHOICE,A FREE HOME FOR YOU TO LIVE IN ANYWHERE IN THE WORLD OF YOU CHOSEN AND A SALARY OF $5,000.00 WILL BE PAID TO YOU MONTHLY AS A MEMBER OF THIS GREAT SOCIETY.Note as a member of this great society, whatever you choose to do is possible and extreme success and achievement in all you do....

    If you are interested of joining us in the great brotherhood Illuminati CONTACT US TODAY via E-mail: illuminatisocietyy@gmail.com 0R Whatsapp on +2348154638033 for more information.

    NOTE:NO HUMAN BLOOD OR PARTIES ARE NEEDED HERE ONLY YOUR DEDICATION NEEDED AND YOU DON'T PAY ANY FEE TO JOIN THE ILLUMINATI BROTHERHOOD OK..BUT ONLY PROVIDE THOSE ITEMS NEEDED FOR YOUR SUCCESSFUL INITIATION RITUALS OKAY..IS A CULT OF PEACE WITH BIGGER AIMS GET RICH AND TAKE GOOD CARE OF YOUR LIFE AND FAMILIES GENERATIONS... WAITING TO RECEIVE AND WELCOME YOU INTO THE GREAT ILLUMINATI KINGDOM. THINK BIG AND WISE UP BROTHER....ENOUGH IS ENOUGH STAND UP AND FIGHT FOR YOUR RIGHT.

    If you are interested of joining us in the great brotherhood Illuminati CONTACT US TODAY via E-mail: illuminatisocietyy@gmail.com 0R Whatsapp on +2348154638033 for more information.

    Best of Regards
    Dr.Henry James(Zonal Publicity secretary for the ILLUMINATI society).

    ReplyDelete
  8. JOIN US IF YOU WANT TO BE A MEMBER OF THE ANCIENT ILLUMINATI.
    Look to the light so you can be helped. Follow the light so you can be saved. Learn from the light so you can achieve your goals. Follow the pyramid so you can be blessed. We are the Brotherhood of the Ancient Bavarian Illuminati that offers Abundant Wealth and Fame. You now have the opportunity to put a TOTAL STOP to your current sufferings and make the rest of your life time full of all good fortunes. The light is here to help you. inbox now on whatsapp +2348100663964 , Email: ancientilluminati666@yahoo.com

    ReplyDelete
  9. Wisconsin Mortgage Corporation has been providing quality home loans across Wisconsin.Meet our loan officers. Please choose the loan officer that you were referred to view their personal page and apply online.Wisconsin FHA Each loan officer's page includes the following services.

    ReplyDelete
  10. JOIN ILLUMINATI THE SECRET SOCIETY, CALL: +2348151972510 whatsapp or talk true sms message or Email: illuminatibrothershood6@gmail.com

    ILLUMINATI comes from the latin meaning ''Enlightened ones'' They were a short livret society was Adam weishapt ,who was a German philosopher, and a professor of civil and canon law.Adam was brilliant academically whose life and discipline was structure through the teaching of a Jesuit school.

    Are you sure that you want to join illuminate society we have been guiding many people through.Spirit guides from all over the World.
    I will reveal to you the secrets of Your life and mysteries of the untold.
    Helping you achieve your goals for success,And ways to improve your destiny.We welcome every one to this society where by,are you a musician,footballer,firm star,politician etc,It makes you get Rich's and more famous PROTECTED, POWERFUL in the World.. every one can [THE MORE PEOPLE THE MORE STRENGTH $ POWERS WE GAIN],Join now. For more information call on +2348151972510 or Whatsapp, or sms message come all...

    ReplyDelete
  11. HELLO EVERYONE I AM GIVING A TESTIMONY OF HOW I GOT RICH POWERFUL AND FAMOUS TODAY
    am giving a testimony of how i become rich,powerful and famous today... i was deeply
    strangled up by poverty and i had no body to help me, and also i search for
    help from different corners but to no avail... i see people around me
    getting rich but to me i was so ashamed of my self so i met a man on my way
    he was very rich and he was a doctor so he told me something and i think
    over it though out the day so the next day i looked up and i keep repeating
    what he said to me.

    " if you want to get rich quick and powerful and be famous"
    you need to cross your heart and do what
    is in your mind

    so i tried all i could in other for me to do as he said so later on i told
    my fellow friend about this same thing then my friend was interested in my
    suggestions so i decided to look in the Internet and i found an email
    address of this great fraternity(illuminatibrothershood6@gmail.com
    so we decided to contact them and unfortunately we did as they instructed us to do and later they told us to get some requirements and all the rest... so the initiation took us just a week and later on, the great fraternity gave us
    $70,000,000.00 to start up our lives.... and now am testifying on how i get rich famous and powerful today that if in
    any case you want to join any great fraternity all you need to do is for
    you to contact them because they are legitimate and they do as what they
    instructed them to do okay so email them now at illuminatibrothershood6@gmail.com) If you are interested call the agent now +2348151972510 or send your e-mail to {illuminatibrothershood6@gmail.com} for immediately initiation.New members registration is now open online or call them on this number +2348151972510..

    ReplyDelete