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UBA is Well-Positioned to Benefit from Recovery Trends in 2021 says Elumelu

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•       Shareholders optimistic about future earnings prospects 

Pan African financial institution, United Bank for Africa (UBA) Plc has assured its teeming shareholders and investors of even greater returns in the coming months, with the bank having established a diversified business model that ensures impressive performance even in periods of uncertainty, across its geographical network.

UBA Group Chairman, Tony O. Elumelu, who gave this assurance to shareholders at the 59th Annual General Meeting at the UBA Head Office, on Thursday April 1, 2021, explained that the bank has made strategic decisions that will strengthen its resolve to earn the industry leadership that it has envisioned in Nigeria, Africa and globally.

“We spearheaded strategic investments in our digital banking and technology platforms to further promote self-service banking; we have also focused on enhancing the capabilities of our people through various online capacity development programmes,” Elumelu added, “Our African operations (ex-Nigeria) have contributed approximately 55% of our profits for the year, illustrating that we are truly a pan-African bank.”

He further explained that the bank remains committed to ensuring its viability amid an ever-changing business environment and to continue be a role model for African businesses by showcasing the best of Africa to the world. “The work we have done in strengthening our governance structures Group-wide and in improving our business and operating models in 2020 positions our bank to benefit from these recovery trends and to achieve significant market share gains across our operations,” he noted.

At the end of the 2020 financial year, UBA’s profits grew remarkably by 27.7 percent to N113.8 billion, compared to N89.1 billion recorded at the end of the 2019 financial year, whilst profit before tax was impressive at N131.9 billion, compared to N111.3 billion at the end of the 2019 financial year.

Gross earnings grew by 10.8 percent to N620.4 billion, compared to N559.8 billion recorded in the same period of 2019 whilst  total assets also grew by 5.6 percent to an unprecedented N7.7 trillion for the year under review.

In its usual tradition of rewarding shareholders, the bank proposed a final dividend of N0.35 kobo for every ordinary share of 50 kobo, bringing the total dividend for the year to N0.52 kobo as the bank had paid an interim dividend of N0.17 kobo earlier in the year.

Shareholders at the meeting commended the bank’s decision to plough-back some of its profits into business consolidation, adding that these times call for prudent and effective management of financial resources for all businesses especially those with high shareholding rate such as UBA.

One of the shareholders, Sir Sunny Nwosu, who spoke at the meeting, commended the board and management of the bank company for keeping up with its activities despite the Covid-19 pandemic and its resultant effect on major businesses.

Whilst advising the company to gear up efforts to increase dividends in the next financial year, Nwosu praised UBA’s for ensuring that the African subsidiaries performed well by contributing 55% to the Group’s business.

Another shareholder, Nonah Awoh, who agreed with the improvement recorded from the bank’s Ex-Nigeria’s subsidiaries, encouraged the management to boost other subsidiaries with the needed resources to help them perform even better in the current financial year.

UBA’s Managing Director/Chief Executive Officer, Kennedy Uzoka, who responded to shareholders’ comments at the meeting spoke on the reduced dividend pay-out this year, explaining that the bank had decided to be conservative to further strengthen the business.

He said, “As an institution that has been in operations for 72 uninterrupted years, UBA wants to continue to perform optimally. In line with this, we have used most of our funds to prepare for unforeseen challenges. Given the trajectory and the resilience of our business, we can assure you that we will meet and surpass the expectation of you our shareholders.”

Continuing, he said, “We have recalibrated our business structure, starting from Lagos and extending to the South-South. We have bolstered them with the necessary leadership to achieve our aim. We believe that with these measures we have put in place, our Nigerian business will give the rest of Africa a good fight,” Uzoka said.

United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than twenty-one million customers, across over 1,000 business offices and customer touch points. Operating in 20 African countries with presence in the United States of America, the United Kingdom and France, UBA is connecting people and businesses across Africa through retail; commercial and corporate banking; innovative cross-border payments and remittances; trade finance and ancillary banking services.

 

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Okobi, Esomeju, Otaigbe Join Global Leaders to Discuss Sustainable Finance, Economic Transition at UNEP FI’s Regional Roundtable

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As part of its continued commitment to sustainability, Access Holdings PLC will be amongst the leading participants in the United Nations Environment Programme Finance Initiative (UNEP FI) Regional Roundtable on Sustainable Finance for Africa and Middle East. Taking place from May 6-7, 2025, in Marrakech, Morocco, the event will bring together regulators, policymakers, and key stakeholders from the financial sector to discuss and shape critical sustainability issues, including climate mitigation and adaptation, nature-positive finance, just transition and financial inclusion, carbon finance, among others.Amaechi Okobi, Chief Brand and Communications Officer of Access Holdings; Edmund Otaigbe, Group Head of Credit Administration, Governance & Project Monitoring, and Njideka Esomeju, Group Head of Products and Segments, will be contributing insights from their extensive experience in driving sustainability within the financial sector. Among the discussions will be sessions dedicated to accelerating the transition of real economy sectors towards sustainability, addressing climate risks, and ensuring financial inclusion. One of the focal points will be how financial institutions can support climate adaptation and resilience, particularly in vulnerable sectors across Africa and the Middle East. The event will further tackle the challenge of unlocking private finance for the Sustainable Development Goals (SDGs), exploring innovative ways to align capital flows with regional sustainability needs.Other high-level dialogues will explore regional collaboration to support sustainability goals, advancing action on climate adaptation, and the regulatory developments promoting sustainable finance across the region. Panels will focus on topics such as financing and insuring MSMEs for climate resilience and fostering an inclusive transition by ensuring that vulnerable communities and underserved populations are not left behind in the push for green growth.Prominent speakers at the event include Mahmoud Mohieldin, UN Special Envoy on Financing the 2030 Agenda; Louise Gardiner, Senior Operations Officer at the International Finance Corporation (IFC); Lily Burge, Policy Manager, Climate Bonds Initiative; Samuel Tiriongo, Director of Research and Policy, Kenya Bankers Association;Walid Ali, General Manager, Sustainability Department, Central Bank of Egypt; Yasser Mounsif, Director of Issuers, Moroccan Capital Market Authority, alongside other leaders in sustainable finance.
www.accessbankplc.com The UNEP FI Regional Roundtable promises to be a critical platform for deepening collaboration among stakeholders across Africa and the Middle East, with the shared goal of creating a resilient, sustainable future for the region.###Access Holdings PlcAccess Holdings Plc is a leading multinational financial services group that offers banking, lending, payment, insurance, and pensions services. Headquartered in Lagos, Nigeria, Access Holdings operates through a network of more than 700 branches and service outlets, spanning three continents, 24 countries, and 60+ million customers.Access transitioned into a holding company to drive rapid growth and become a full-scale ecosystem player offering interconnected services across customer needs. Established in 2022, Access Holdings Plc consists of the Access Bank Group; Access ARM Pensions; a Payment and Switching Services Company; a Digital Lending Company, and an Insurance Brokerage Company. The banking vertical serves its various markets through four business segments: Retail, Business, Commercial and Corporate, and has enjoyed what is it arguably Africa’s most successful banking growth trajectory in the last eighteen years, becoming one of Africa’s largest retail banks by customer base and Sub-Saharan Africa’s largest bank by total assets. Access Holdings strives to deliver sustainable economic growth that is profitable, environmentally responsible, and socially relevant, helping customers to access more and achieve their dreams.About Access Bank PLC Access Bank, a wholly owned subsidiary of Access Holdings Plc, is a leading full-service commercial bank operating through a network of more than 700 branches and service outlets spanning 3 continents, 24 countries and over 60 million customers. The Bank employs over 28,000 people in its operations in Africa and Europe, with representative offices in China, Lebanon, India, and the UAE.Access Bank’s parent company, Access Holdings Plc, has been listed on the Nigerian Stock Exchange since 1998. The Bank is a diversified financial institution which combines a strong retail customer franchise and digital platform with deep corporate banking expertise, proven risk management and capital management capabilities. The Bank services its various markets through three key business segments: Corporate and Investment Banking, Commercial Banking, and Retail Banking. The Bank has enjoyed
www.accessbankplc.com what is arguably Africa’s most successful banking growth trajectory in the last 20 years, becoming one of the continent’s largest retail banks.As part of its continued growth strategy, Access Bank is focused on mainstreaming sustainable business practices into its operations. The Bank strives to deliver sustainable economic growth that is profitable, environmentally responsible, and socially relevant, helping customers to access more and achieve their dreams.

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GTCO SUSTAINS PROFITABILITY MOMENTUM WITH GROWTH IN CORE INCOME – DECLARES A PBT OF N300.4BILLION IN Q1 2025

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Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Unaudited Consolidated and Separate Financial Statements for the period ended March 31, 2025, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE). The Group reported profit before tax of 300.4billion on the back of strong performance posted on the core₦ earnings lines of interest income which grew y-o-y by 41.1% and fee income up by 41.2%. The strong performance enabled the group to douse the impact of the 331.6₦ billion fair value gains recognised in Q1-2024 which did not recur in Q1-2025. The Group’s loan book (net) increased by 15.6% from 2.79trillion recorded as at December 2024 to₦ 3.22trillion in March 2025, while deposit liabilities grew by 7.7% from 10.40trillion to 11.20trillion during₦ ₦ ₦ the same period. The Group recorded growths across all its asset lines and continues to maintain a robust, well-structured, highly de-risked, and well-diversified balance sheet in all the jurisdictions wherein it operates. Total assets and shareholders’ funds closed at 15.9trillion and 3.0trillion, respectively. Full₦ ₦ Impact Capital Adequacy Ratio (CAR) remained very robust and strong, closing at 34.6%, equally asset quality improved as evidenced by IFRS 9 Stage 3 Loans which closed at 3.3% at Bank Level and 4.5% % at Group in Q1-2025 (Bank -3.5% (Group- 5.2% in December 2024) and Cost of Risk (COR) closed at 0.4% from 4.9% in December 2024. Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc (GTCO), Mr. Segun Agbaje, said; “Our Q1 2025 performance reflects the strength of all our business verticals and our capacity to generate strong and sustainable earnings. While the fair value gains of N331.6billion reported in Q1 2024 did not recur this quarter, the Group recorded solid growth across most income lines, underpinned by a diversified revenue base and a healthy, well-structured balance sheet.”He further stated that, “We remain optimistic about the year ahead. The fundamentals of our business are strong, our customer base continues to grow, and we are executing with discipline across our strategic priorities. Importantly, at this pace, the Group is well-positioned to deliver the full year PBT of 2024 at the very minimum by the end of the 2025 FYE.”Overall, the Group continues to post one of the best metrics in the Nigerian Financial Services industry in terms of key financial ratios i.e., Pre-Tax Return on Equity (ROAE) of 42.2%, Pre-Tax Return on Assets (ROAA) of 7.8%, Full Impact Capital Adequacy Ratio (CAR) of 34.6% and Cost to Income ratio of 29.0%. Guaranty Trust Holding Company Plc (GTCO Plc) is a leading financial services group with operations across Africa and the United Kingdom. Renowned for its strong corporate governance, innovative financial solutions, and customer-centric approach, GTCO Plc provides a wide range of banking and non-banking services, including payments, funds management, and pension fund administration. The Group is committed to delivering long-term value to stakeholders while driving growth and development across It’s markets.

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GTCO Food and Drink Festival 2025: A Shared Experience of Culture, Cuisine, and Enterprise

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The stage is set for Africa’s most anticipated celebration of food, drink, and culture as Guaranty Trust Holding Company Plc (GTCO) announces the 8th edition of the GTCO Food and Drink Festival, scheduled to hold from Friday, May 2nd to Sunday, May 4th, 2025, at GTCentre, Plot 1 Water Corporation Drive, Oniru, Victoria Island, Lagos.

This year’s festival is themed “A Shared Experience”, highlighting how every meal tells a story—stories of culture, community, and tradition that unite people across generations and geographies. The 2025 edition will feature 204 free retail stalls, showcasing the rich diversity and creativity of our food culture—from traditional Nigerian dishes and regional delicacies to contemporary fusion cuisines, savory bites, refreshing beverages, and gourmet desserts. Attendees can also look forward to a series of masterclasses, where internationally renowned chefs and respected culinary experts will share practical insights, recipes, and techniques spanning a wide range of cuisines and disciplines.

In addition to the food exhibition and masterclasses, visitors will enjoy an expansive street food arena, offering a vibrant selection of popular local delicacies, and a dedicated children’s play area, ensuring a fun, safe, and memorable experience for the entire family.

Speaking on the significance of the festival, Mr. Segun Agbaje, Group Chief Executive Officer of GTCO Plc, said: “The GTCO Food and Drink Festival is a celebration of our rich cultural diversity and entrepreneurial spirit. Every meal shared is a reminder of our traditions and the universal language of food that connects us all. Beyond the festivities, the festival reflects our commitment to supporting local enterprise—creating a free business platform where food retailers can connect with consumers, share their unique offerings, and take meaningful steps toward growth and long-term sustainability.”

At the heart of the festival is GTCO’s vision of Promoting Enterprise in support of small businesses, especially indigenous foodpreneurs. It is part of the Group’s broader commitment to creating Great Experiences for customers by offering meaningful opportunities for connection, growth, and shared success.

Admission to the GTCO Food and Drink Festival is free, and everyone is welcome to join in this extraordinary celebration of food, culture, and enterprise.

For more information on the event, please visit: https://foodanddrink.gtcoplc.com

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