Africa’s Global Bank, United Bank for Africa (UBA) Plc, has released its audited financial results for the half-year ended June 30, 2024, showcasing impressive performance across key financial indicators.
According to UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, the bank has consistently delivered strong double-digit growth in high-quality and sustainable banking revenue streams. “Our intermediation business showed strong growth with net interest income expanding by 143% YoY to N675 billion,” Alawuba said.
The bank plans to intensify its customer acquisition drive by investing in technology, data analytics, product research, and innovation to enhance its value proposition and customer experience.
UBA’s Executive Director Finance & Risk, Ugo Nwaghodoh, expressed delight at the bank’s operational efficiency milestone, with a cost-to-income ratio normalizing around the 50% range. The bank aims to manage heightened credit, operational, cyber, and information security risks while aligning with its sustainability goals.
With over 35 million customers across 20 African countries and presence in New York, London, Paris, and Dubai, UBA remains a leading Pan-African financial institution, offering retail, commercial, and corporate banking services.