Following a 3-day Forum
which was held in Lagos, Nigeria between April 6 & 8, 2016, United Bank for Africa
(UBA) Plc Chairman Mr. Tony Elumelu formally inaugurated a Group Board Meeting
as a platform for group integration, bonding and knowledge sharing.
90 participants comprising
of the entire Board of United Bank for Africa PLC(UBA), Chairmen and CEOs of
UBA subsidiaries in Africa and the United Kingdom, Group Strategic Business and
Support Heads, amongst other special invitees and guest facilitators, were in
attendance.
The Group Forum serves as
an interactive platform for knowledge sharing on issues ranging from Corporate
Governance, Institutional History, Board Effectiveness, Brand Projection,
Empowerment and Accountability amongst others.
Speaking during the Forum,
Elumelu said, “As long term investors and Africa enthusiasts, we are committed
to the markets in which we operate
and to the wider African economy. We will continue to work with credible
partners and governments across Africa to identify and develop those critical
growth poles required for the sustainable development of all African economies”.
The maiden forum coincided
with the 54th Annual General Meeting (AGM) of UBA which held on April 8,
2016. Participants were also able to celebrate the Bank’s stellar financial
performance and the staff who made this possible at the annual UBA CEO Awards
ceremony, which was held the next day.
The Group Board Forum
resolved to reposition UBA as the leading pan-African Bank across all key
indices – brand equity, human capital, customer service and profitability
whilst also inculcating a culture of responsiveness in UBA. Other top of the
agenda items included Know Your Customer (KYC) and Anti-Money Laundry (AML)
policies and compliance standards across the Group. There was a general
agreement among participants that there will be zero tolerance for any regulatory
infraction across all operations.
UBA reported
credible financial results
in 2015 in
what all recognize was a challenging macro environment. Gross earnings were N315bn whilst operating profits stood at N69bn. UBA Africa operations
currently contribute about 25% of these earnings but are poised to contribute
much more and should over time account for as much as 50% of overall Group profitability.
For this to happen “we
must inculcate a culture that enforces individual accountability, a high sense
of urgency and a customer first orientation in getting things done.
Responsiveness and accountability are key attributes of High Performing
Organizations”
Elumelu said.
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Business