201 7
UBA,,
2017
ANNUAL REPORT AND ACCOUNTS
1
ANNUAL REPORT AND ACCOUNTS 2017
CORPORATE PROFILE
Contents
Corporate Profile
4
Corporate
Global Footprint
5
Profile
Directors' Profile
7
Management Team Profile
12
Chairman's Statement
19
Strategy
CEO's Report
23
and
Business Review
Sustainability
and
Sustainability
27
Responsibility
Corporate Social Responsibility
30
Directors' Report
36
Complaints and Feedback
44
Governance
Corporate Governance Report
46
Statutory Audit Committee Report
51
Board Evaluation Report
53
Report of the Independent Auditors
56
Statements of Comprehensive Income
63
Statements of Financial Position
64
Financial
Statements of Changes in Equity
65
Statements
Statements of Cash Flow
67
Notes to Financial Statements
69
Statements of Value-Added
217
Five-Year Financial Summary
218
Shareholders' Information
222
Notice of AGM
228
Investor
Shareholders' Forms
229
Information
Corporate
Subsidiaries with Contact Details
240
Information
Corporate Information
242
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CORPORATE PROFILE
ANNUAL REPORT AND ACCOUNTS 2017
Mission
To be a role model for African businesses by creating superior value for all stakeholders, abiding by the utmost professional and ethical standards, and building an enduring institution.
Vision
To be the undisputed leading and dominant financial services institution in Africa.
Who We Are
With the bank's migration from universal banking to monoline commercial banking in line with regulatory requirement, UBA provides Commercial Banking, Pension Custody and related financial services to its over 14 million corporate, commercial and retail customers, served through various channels.
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ANNUAL REPORT AND ACCOUNTS 2017
CORPORATE PROFILE
CORPORATE PROFILE
United Bank for Africa Plc (UBA) is a leading pan-African financial services group with presence in 20 African countries, as well as the United Kingdom, the United States of America and France.
UBA was incorporated in Nigeria as a limited liability company after taking over the assets of the British and French Bank Limited, which had been operating in Nigeria since 1949. The United Bank for Africa merged with Standard Trust Bank in 2005 and from a single country operation founded in 1949 in Nigeria - Africa's largest economy - UBA has become one of the top providers of banking and other financial services on the African continent. The bank provides services to over 14 million customers globally, through one of the most diverse service channels in sub-Saharan Africa with over 1,000 branches and customer touch points and a robust online and mobile banking platform.
The shares of UBA are publicly traded on the Nigerian Stock Exchange (NSE) and the bank has a well-diversified shareholder base, which includes foreign and local institutional investors, as well as individual shareholders.
Products UBA is a financial institution, offering a range of banking and pension fund custody services
Market UBA has over fourteen million customers in retail, commercial and corporate market segments spread across 23 countries, consisting of Nigeria, 19 other African countries, the United States of America, the United Kingdom and France.
Channels UBA has one of the largest distribution networks in Africa. As at 31 December 2017, there were 1,000 branches and customer touch points across Africa. 2,300 ATMs and over 13,500 PoS machines fully deployed.
Staff As at 31 December 2017, the Group had over 20,000 direct and support staff.
Our shared values
ENTERPRISE
Own the task Go the extra mile, solve problems Show initiative Break barriers Be innovative
EXCELLENCE
Be responsive and passionate
Surpass customer's expectations always
Maintain quality standards Be meticulous - make it simple always
Be professional - integrity, friendly and genuine
EXECUTION
Get it done Get it done now Get it done very well Always have the end in mind
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GLOBAL FOOTPRINT
CORPORATE PROFILE
ANNUAL REPORT AND ACCOUNTS 2017
Mali
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