Leading pan-African financial institution, United Bank for Africa (UBA) Plc. has won big at the BusinessDay’s Bank and other Financial Institutions Award (BAFI), carting away with the Bank of the Year Award and the International Bank of the Year Award.
L-R: Head of Media and Media Relations, UBA Plc, Ramon Nasir; Deputy Managing Director, United Bank for Africa, Liadi Ayoku, President, Nigerian Institute of Taxation, Dame Gladys Olajumoke Simplice; and Managing Director, BusinessDay Newspapers, Mr. Ogho Okiti at the BusinessDay Bank and other Financial Institutions Award (BAFI) where UBA won Bank of the Year and International Bank of the Year Awards, held in Lagos at the weekend
The award that was held over the weekend saw UBA clinching the two top categories in a well-attended ceremony comprising of Bank CEO’s, Captains of Industries and Senior financial executives.
The pan-African bank won the ‘Bank of the Year’ in recognition of its consistent effort in outperforming its peers using a composite of financial metrics, strategic foresight, execution discipline, world-class governance and global vision.
UBA also won the award for ‘International Bank of the Year’ which was keenly contested. A category that pitches Nigerian financial institutions that have expanded on the continent against their international peers operating across Africa.
The Deputy Managing Director of UBA, Mr. Liadi Ayoku while receiving the awards on behalf of the bank, said; “These awards mark another milestone for UBA Group and is a testament of the diligent execution of the bank’s strategic initiatives on customer service. Being recognized as Nigeria’s best bank complements positive feedback from customers and is a recognition of our improving efficiencies, service quality and innovation.”
“I therefore dedicate it to our growing loyal corporate and retail customers, who are our essence. Given our heritage commitment to Africa’s development, we continue to impact lives through our service as well as funding to individuals, businesses and government.”
“The bank remains focused on its goal of democratizing banking in Africa, leveraging on new technologies and emphasised its determination to change the narrative of financial services in Africa.”
However, explaining the rationale behind UBA winning the two awards, Publisher of BusinessDay Newspapers, organisers of the event, Frank Aigbogun, said; “UBA has excelled in the key areas of prioritising customers, which earned the bank the double honours.”
“The bank stood out in prioritising customers as has been evident in the significant rise in Customer Deposits which leaped by 35.7 % to N5.2trillion up from N3.8 trillion at the end of the last financial year.”
“Even though Africa’s economic landscape has been unpredictable in recent times which resulted in recession in Nigeria and some of Africa’s best performing economies, the bank still found its rhythm and excelled.”
“In these conditions only the most diversified and innovative of regional banks can prosper. And this is precisely why UBA has scooped the BAFI 2020, Best Bank of the year and International Bank of the year, a testament to hard work, resilience. For one, the lender registered impressive top- and bottom-line growth over the review period.”