Shettima extols UBA’s dedication to innovation, emerging markets

By Salisu Sani-Idris

Vice President Kashim Shettima has lauded the United Bank of Africa (UBA) for its 75 years of operational excellence.

Speaking at the UBA 75th Anniversary Dinner in Abuja on Friday, the Vice President described the financial institution as a leader in innovation, emerging markets, and generational ambition.

“Seventy-five years is not something you pick up at a supermarket. It is earned through risks, and calculations, through storms and sunshine, through mergers and acquisitions, and through the brainpower and courage of those who believe in its promise of a new world.

“That is what leadership means,” he stated.

He added that celebrating an institution like UBA, “that has outlived generations and still pulses with the vibrancy of youth,” is a rare occasion.

“The United Bank for Africa, or simply UBA, is not what it is because of the age of its ideas but because of the attention it pays; attention to innovation, attention to emerging markets, attention to shifting dreams, and attention to the changing contours of generational ambition.

“UBA has remained a pacesetter because it is led by people who do not just manage capital but manage curiosity.”

Shettima applauded UBA for outlasting its contemporaries, attributing its longevity to its passion for relevance.

He described the bank as an exemplary model of what an African institution could become by institutionalising excellence.

“UBA’s staying power is owed to its pursuit of relevance. It has stood as a reward for new thinking, expanding not just across geography but across ideas. It serves millions, it shapes economies, and it influences the narrative of what an African institution can become when excellence is institutionalised and when well-intentioned dream-makers are in charge.”

The Vice-President acknowledged the leadership of the bank’s Chairman, Mr Tony Elumelu, whom he called one of the finest “sons of the African continent”.

He noted that every institution’s history is marked by those who believe in it.

He said further, “Elumelu has become a bridge between the old and the new, between the outdated and the emerging.

“He has won the trust of even the Gen Zs, or whatever this brilliant digital generation calls itself.”

Shettima observed that Gen Zs have absolute trust in Elumelu “not because of the era he was born in, but because of the attention he pays to theirs,” adding that Elumelu is heard across generations because he listens across generations.

“Tony Elumelu is not a dreamer; dreamers are those who are stuck in the bubble. Mr Elumelu is a dream-maker. He has made true the imagination of those who wish for an empire from the comfort of their homes. He has taught us that it is possible to build without breaking, to lead without losing touch, and to dream without borders.

“One thing that has amused me about Mr Elumelu over the years is that he has cracked a code many still struggle to decipher, the delicate art of balancing the boardroom with the living room, of being a captain of industry and still a commander at home. Not many men have managed a balance between building empires and building families, between saving the world and being present at Christmas in their village. But this man, this maverick, this dream-maker, has shown us that you can help move the continent forward without losing touch with home and family.”

Shettima also commended Elumelu’s wife, Dr Awele Elumelu, describing her as “not just a spouse but an Amazon, a matriarch who gathers the kith and kin under her warm canopy.”

Earlier, Group Chairman of UBA, Elumelu, expressed profound gratitude to the Vice President while acknowledging the bank’s foundational history.

“This is a night of celebration, gratitude to God and to customers and shareholders who have made it possible,” Elumelu stated.

He emphasised the importance of honouring those who established UBA’s foundation.

“We all today are under the shields because someone planted the tree.

The foundation of UBA was laid by people before us; we are only taking it further.”

Elumelu expressed confidence in the bank’s continued success, linking it directly to Nigeria’s economic environment.

“On the vision of the next 75 years, just keep transforming our domestic economy as President Bola Tinubu is doing, and UBA will keep roaring,” he affirmed.

The UBA’s Group Managing Director, Dr Oliver Alawuba, expressed gratitude and highlighted the bank’s remarkable journey since its inception.

“75 years ago, UBA commenced operations at Kakawa Street in Lagos as British & French Bank (BFB),” he said.

He emphasised UBA’s impressive expansion over the decades, noting that the bank now operates in 24 countries with 1,000 business offices, over 25,000 staff members, and a customer base exceeding 45 million people.

Alawuba shared financial metrics demonstrating the bank’s robust performance, including a profit after tax of N766.6 billion and total assets reaching N30.4 trillion.

He noted that shareholders had been rewarded with a dividend of five naira per share, representing a dividend yield of 14.5 per cent, the highest among industry peers.

He also pointed out that the group’s shareholders’ funds rose significantly to N3.419 trillion in 2024 from N2.030 trillion in December 2023.

“The 2024 financial performance demonstrated the bank’s continued focus on driving earnings growth, preserving asset quality, expanding business operations and deepening market share.”

He said that the vision of UBA includes establishing a presence in every African country and expanding to over 100 countries worldwide within the next 75 years.(NAN)