• GROUP
  • CAREERS
  • UBA FOUNDATION
  • ATM/BRANCH LOCATOR
  • OPEN AN ACCOUNT
Close
Sierra Leone
  • Nigeria
  • Benin
  • Burkina Faso
  • Cameroon
  • Tchad
  • RDC
  • Cote d'ivoire
  • Gabon
  • Ghana
  • Guinea
  • Kenya
  • Liberia
  • Moçambique
  • Senegal
  • Tanzania
  • Uganda
  • Zambia
  • France
  • America
  • Mali
  • UK
  • Foundation
  • Alumni
  • UAE
  • France

 

    MENUMENU
    • INTERNET BANKING
      • Personal
      • Business
    • Personal
      • Personal
        • UBA Personal Banking

          At UBA, we are constantly thinking about you! We create accounts tailored to your individual needs as a valued customer and are constantly developing new products and services to help make banking and life easier for you

      • Savings Accounts
        • Savings Account

      • Money Transfer
        • Easily transfer cash to countries outside your region.

          UBA international money transfer Is a secured electronic payment service that allows money transfer across African countries and beyond.

      • Loans & Payments
        • Loans & Payment

          No matter what your needs are, we are here for you. ​

      • Cards
        • Our cards are highly convenient to use anytime.

          Our cards are issued to clients that perform one or more of a number of services that relate to giving the client access to numerous services.

      • Current Accounts
        • Our Current account enables you bank wisely.

          A UBA Current Account is suitable for everyone, whether employed, self-employed, students, artisans, or members of the diaspora.

      • UBA Connect
        • UBA Connect

          With UBA Connect, our customers can make cash withdrawals, deposits and transfers at any UBA branch across Africa

    • Digital Banking
      • Digital Banking
      • Notification Services
      • Mobile Banking
      • Instant Bills Pay
    • Diaspora Banking
      • Diaspora Banking
    • Media
      • Press Release
      • News
      • Blog
      • Gallery
      • Financial Reports
      • Newsletter
    • ABOUT US
      • About UBA ( SL )
        • History

          About UBA Sierra Leone

      • Careers
        • Careers

          See our Latest Job openings

      • History
      • Leadership
      • Moving to Sierra Leone
      • Information Security Policy
      • Privacy Policy
      • Terms & Conditions
    • Help
      • Help
      • Contact
      • Whistle Blowing
  • LOG IN
UBA Sierra Leone

At UBA’s 60th AGM, Elumelu Upholds Commitment to Exceed Growth Trajectory, Create Value for Shareholders

By ubasierraleone on April 14, 2022

At UBA’s 60th AGM, Elumelu Upholds Commitment to Exceed Growth Trajectory, Create Value for Shareholders

Shareholders Laud UBA’s Dividend Yield, Subsidiary Performance

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has assured shareholders and investors of its unwavering commitment to sustain its current growth trajectory even as its efforts at business diversification across Africa and beyond continues to yield increasing returns.

The Group Chairman, Tony Elumelu, who made this declaration at UBA’s 60th Annual General Meeting, which was held at the Transcorp Hilton Hotel, Abuja on Thursday April 7, 2022, noted that the bank’s strategic investment decisions over the past few years have indeed translated to huge returns for its investors, despite the challenging business environment witnessed in the last two years.

“I am proud of how as a Group, we have been able to further consolidate on the new capabilities we have built, novel customer solutions we have deployed, efficiency gains recorded and the growth prospects we have leveraged from a recovering world,” Elumelu stated, adding “These were the building blocks for the very strong financial performance and the growth delivered by your Group in 2021, further confirming the wisdom of the investments we made and the strategy we have pursued, to ensure the diversification and sustainability of our business model.”

Whilst expressing his delight to shareholders and customers who have stood with UBA for almost eight decades, Elumelu remained confident of the bank’s capacity to sustain this momentum especially as economic activities recover from the impact of the Covid -19 pandemic.

“Our goal is to continue to build strong brand loyalty with our customers and create additional value for our shareholders, whose underlying support has positioned UBA for continued growth,” the Chairman noted.

UBA’s Group Managing Director/Chief Executive Officer, Kennedy Uzoka, who went into details about the improved performance of the bank’s subsidiaries in the financial year under consideration, said, “We are happy that the global community recognises the role our Group is playing in the transformation of the African economic landscape through innovative and customer focused banking services.”

He pointed out that the bank’s business in the United Kingdom had specifically witnessed remarkable expansion, adding “As from July 2021, UBA UK started making profit, and even to date, they are still doing well, and the same can be said for many of our African subsidiaries. The truth is that we are driven by the opportunities and potential in each of the geographies that we invested in, and we are happy with what we have achieved so far’.

Shareholders who spoke at the meeting including Sir Sunny Nwosu, Alhaji Farouk Umar, Mr. Nonah Awoh, Mr. Patrick Ajuda, Mrs. Bisi Bakare and Chief Timothy Adesiyan, were unanimous in their commendation of the board and management of UBA, for the impressive financials which have translated to higher dividends for shareholders.

“Despite the economic situation UBA has been able to grow profitability and increase its customer base. If you compare the dividend with the share price of UBA, you will see that our dividend yield is very high. No bank in Nigeria has been able to achieve this, and I therefore commend the UBA board,” Umar noted in his remarks.

At the end of the 2021 financial year, UBA’s Profit Before Tax was impressive with a 20.3 percent growth to N153.1 billion ($373.8 million), compared to N127.3 billion ($310.8 million) at the end of the 2020 financial year; while Profit After Tax rose grew by 8.7 percent to N118.7 billion ($289.9 million) in 2021, compared to N109.2 billion ($266.6 million) recorded the previous year. As a result, the Bank proposed a final dividend of 80 kobo for every ordinary share of 50 kobo for the financial year ended December 31, 2021, bringing the total dividend for the year to N1.00 as the Bank had earlier paid an interim dividend of 20kobo.

 

United Bank for Africa Plc is Africa’s global bank, offering banking services to more than twenty seven million customers, across over 1,000 business offices and customer touch points in 20 African countries. With a presence in the United States of America, the United Kingdom and France and its more recent operating license in the United Arab Emirates, 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.

 

Posted in Press Release and tagged AGM.
Share
←  NewerTerefa Kamara for wining Little Miss Africa in Uganda
Older  →UBA Sierra Leone Opens New Waterloo Branch

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Banking With Us
    • Personal Banking
    • Digital Solutions
  • Helpful Information
    • Savings Account
    • Current Account
    • Cards
    • Contact Us
  • About UBA
    • Business Focus
    • UBA History
    • Achievements
    • Strength & Ratings
  • Resources
    • Shareholders Information
    • Key Figures
    • CEO's Overview
    • Analyst's Reports
    • Reports
  • Connect
    Sign Up for Our Newsletter

    **I agree that UBA Group and its affiliates may use my contact details to send me communications

    Download on the App Store Get it on Google Play






UBA Sierra Leone is licensed and regulated by the Central Bank of Sierra Leone.
  • © 2025 United Bank for Africa. All Rights Reserved.
  • Terms and Conditions Privacy Policy
  • INTERNET BANKING
    • Personal
    • Business
  • Home
  • Personal
    • Personal
    • Savings Accounts
    • Money Transfer
    • Loans & Payments
    • Cards
    • Current Accounts
    • UBA Connect
  • Digital Banking
    • Digital Banking
    • Notification Services
    • Mobile Banking
    • Instant Bills Pay
  • Diaspora Banking
    • Diaspora Banking
  • Media
    • Press Release
    • News
    • Blog
    • Gallery
    • Financial Reports
    • Newsletter
  • ABOUT US
    • About UBA ( SL )
    • Careers
    • History
    • Leadership
    • Moving to Sierra Leone
    • Information Security Policy
    • Privacy Policy
    • Terms & Conditions
  • Help
    • Help
    • Contact
    • Whistle Blowing
  • Personal
  • Business