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

2

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.

3

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

4

GLOBAL FOOTPRINT

CORPORATE PROFILE

ANNUAL REPORT AND ACCOUNTS 2017

Mali

5

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download