2012 Annual Report & Financial Statements - UBA Plc

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8 Our people continued… Emeke E. Iweriebor, Group Director, Corporate Banking and Uba Nigeria (Lagos & West Directorate) Appointed Executive Director in 2013 (subject to CBN approval). He holds BSc and MSc degrees in Political Science (International Relations) as well as an MBA degree from the University of Lagos, Nigeria. He is an alumnus of the Wharton Business School’s Executive Development Program. He has about two decades experience in banking and financial services and in his current role as Head of Corporate Banking as well as UBA Nigeria (Lagos and West) Directorates. He was previously Deputy CEO, UBA Africa, where he was responsible for building the Bank’s business and governance in UBA subsidiaries across Africa. He was also the CEO UBA Central East and Southern (CES) Africa, where he oversaw the Bank’s subsidiaries in the sub-region and before then, the pioneer MD/CEO of UBA Cameroun. Ugo A. Nwaghodoh, Group Chief Finance Officer He holds a BSc degree from the University of Ibadan, Nigeria and MSc degree in Finance and Management from Cranfield University, England. He is a fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a member of the Cranfield Management Association. He is a seasoned financial analyst and accountant with about two decades experience spanning assurance, advisory, financial control, strategy and business transformation, investor relations, mergers and acquisitions, business integration and project management. Prior to his current role, he was, at different times, Group Financial Controller, Group Chief Compliance Officer and Head – Performance Management in UBA. Before joining UBA in 2004, he had almost one decade experience with Deloitte and PricewaterhouseCoopers. Ben Odukwe, Group Human Resource Director Holds a first degree in Business Administration from the University of Benin and MSc in Banking and Finance from the University of Ibadan. He is a fellow of the Nigerian Institute of Cost Management (NICM), an Associate of the Chartered Institute of Bankers of Nigeria (CIBN), Nigerian Institute of Management (NIM), American Institute of Management and a member of the Oxford Club, Geneva Switzerland. He is also an Alumnus of the IMD International, Lausanne Switzerland. He has held senior level and top management positions in the manufacturing and financial services sectors garnering capabilities in cash/treasury management, operations, audit, corporate banking, financial control, corporate finance and investment banking. He is responsible for human capital policies and practices across the Group. Uche Ike, Group Chief Risk Officer Holds a BSc degree in Accountancy and a Master of Business Administration degree from the University of Benin. He is an Associate member of the Institute of Chartered Accountants of Nigeria (ICAN). Uche has over two decades of banking experience spanning operations, internal audit, operational risk management, fraud management and regulatory compliance. In his current role as Group Chief Risk Officer, he has responsibility for coordinating the risk management activities of the Bank. Prior to this role, he was the General Manager of UBA New York Branch and had also previously supervised Operations in the East and South Banks of UBA Nigeria. Annual Report 2012
9 Emem Etuk, Regional Bank Head (Cra Bank) Holds Bsc (Biochemistry) and MBA from the Obafemi Awolowo University, Ile Ife. An alumnus of the Lagos Business School and Harvard Business School. She has over 14 years banking experience and has garnered capabilities in relationship management, marketing and commercial banking. Prior to joining UBA in 2011, she was a regional executive in Bank PHB Plc, now Keystone Bank, where she was responsible for developing the commercial businesses in bank’s Victoria Island region. Emem is currently the head of UBA’s Cross River and Akwa Ibom Region (CRA) and is responsible for supervising and coordinating activities in the branches located in the region, whilst planning and implementing strategies to grow the bank’s business in the region. Puri Ibrahim, Head UBA Nigeria (North Central) Holds a BSc in Accountancy and MSc in Banking and Finance from Bayero University Kano. He has over 26 years banking experience spanning Operations, Trade and Structured Finance, Retail banking, Commercial and Corporate Banking. He is responsible for the Retail, Commercial and Corporate Banking business in UBA’s North (Central) region. Prior to this role, he was Head Wholesale Banking (North), Regional Director (Abuja) and Regional Bank Head (North West). Before joining UBA, he was Regional Controller (Northern Nigeria), responsible for consumer, commercial and corporate banking at Universal Trust Bank Plc. (Now part of Union Bank Plc). He has attended several local and international courses. Emmanuel Onokpasa, Group Treasurer He holds a BSc (Honours) degree in Accounting from the University of Benin and is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and Associate of the Chartered Institute of Taxation of Nigeria (CITN). He is an Alumnus of the Harvard Business School, Boston and the Lagos Business School. His experience spans key areas of banking most especially in Financial Markets, Operations, International Trade, Business Strategy and Structured Finance. Mr Onokpasa has had a distinguished career serving at different times as Group Treasurer with Diamond Bank and First Inland Bank (now part of FCMB) after having a stint in Consulting, Auditing and Taxation. Samuel Adikamkwu, Group General Counsel Holds an LLB from the then Bendel State University (now Ambrose Alli University) and an LLM degree from both his alma mater and the University of Lagos. He is a Member, Chartered Institute of Arbitrators, United Kingdom. Before joining the banking industry in 1997, Mr Adikamkwu lectured at the Ambrose Alli University where he was the Acting Head of Department for Commercial Law Department of the Faculty of Laws. He was appointed Company Secretary/Legal Adviser of Standard Trust Bank (STB) Plc in 1997. Following the merger of STB Plc with UBA Plc, he became the Deputy Legal Adviser. In 2007 he was appointed the Group General Counsel. Mr. Adikamkwu has attended several courses within and outside Nigeria.
Page 1 and 2: United Bank for Africa Plc RC: 2457
Page 3 and 4: 1 United Bank for Africa (UBA) Plc
Page 5 and 6: 3 Highlights of 2012 Performance Gr
Page 7 and 8: 5 Emmanuel N. Nnorom, Executive Dir
Page 9: 7 Angela Aneke, Non-Executive Direc
Page 13 and 14: 11 Chairman’s Statement “We ach
Page 15 and 16: 13 Sustainability In conducting our
Page 17 and 18: 15 Chief Executive Officer’s Repo
Page 19 and 20: 17 Net interest income grew by 34.3
Page 21 and 22: 19 Review of Group Strategy Driven
Page 23 and 24: 21 UBA POST-RESTRUCTURE SHAREHOLDER
Page 25 and 26: 23 Group Financial Performance Revi
Page 27 and 28: 25 Non-Performing Loan Ratio (%) Ou
Page 29 and 30: 27 Review of UBA’s e-Banking Reso
Page 31 and 32: 29 Services (SMS, e-Mail Notificati
Page 33 and 34: 31 Education 2012 Projects include
Page 35 and 36: 33 Projects Besides these projects,
Page 37 and 38: 35 6. DIRECTORS The names of the Di
Page 39 and 40: 37 10. SUMMARY OF DEALING IN UBA SH
Page 41 and 42: 39 As a reflection of our diverse w
Page 43 and 44: 41 Customer Complaints Report Intro
Page 45 and 46: 43 Reports of the complaints receiv
Page 47 and 48: 45 Appointments and retirements Dur
Page 49 and 50: 47 Meetings are held at least once
Page 51 and 52: 49 S/N Members Number of meetings h
Page 53 and 54: 51 Audit Committee Report TO MEMBER
Page 55 and 56: 53 Statement of Directors’ Respon
Page 57 and 58: 55 Report on other legal requiremen
Page 59 and 60: 57 Consolidated and Separate Statem
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59 (ii) Bank In millions of Nigeria
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61 (ii) Bank In millions of Nigeria
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63 Notes to the consolidated and se
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65 recognition of further losses is
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67 Deferred tax assets and liabilit
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69 - there is an observable data in
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71 Any interest in transferred fina
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73 (n) Intangible assets (i) Goodwi
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75 (v) (w) (x) Fiduciary activities
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77 Impairment losses on initial cla
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79 These Board committees are suppo
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81 In playing this role, GALCO does
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83 Risk Management Structure In res
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85 Financial crime risk This is the
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87 The universal market risk factor
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89 Business continuity management B
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91 - periodic vulnerability assessm
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93 General risk rating process Unit
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95 An estimate of the fair value of
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97 Concentration by location (net)
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99 Bank In millions of Nigerian Nai
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101 Bank For the year ended 31 Dece
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103 Loans and advances individually
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105 Statement of Prudential adjustm
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107 Group In millions of Nigerian N
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109 Liquidity risk management focus
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111 The tables below show the undis
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113 1 January 2011 In millions of N
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115 Market risk profile The Group
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117 Analysis of the Group’s sensi
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119 Group 31 December 2012 In milli
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121 Group Bank Group Bank Group Ban
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123 Group In millions of Nigerian N
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125 Fixed income re-pricing gap Pri
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127 Tier 2 capital, which includes
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129 5. USE OF ESTIMATES AND JUDGEME
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131 (b) (i) Group: December 2011 In
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133 Business segments The Group ope
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135 (b) Business reporting (i) 31 D
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137 7. Financial assets and liabili
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139 The table below sets out the Ba
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141 9. Net fees and commission inco
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143 16. Other operating expenses In
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145 (c) Analysis of the result of d
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147 21. Financial assets held-for-t
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149 24. Investment securities In mi
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151 In millions of Nigerian Naira (
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153 In millions of Nigerian Naira B
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155 (b) (i) Group As at 31 December
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157 29. Intangible assets continued
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159 30. Deferred tax assets and lia
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161 30. Deferred tax assets and lia
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163 34. Other liabilities continued
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165 37. Capital and reserves contin
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167 40. Related parties United Bank
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169 41. Compensation to Employees a
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171 44. Explanation of transition t
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173 Reconciliation of equity In mil
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179 Material adjustments reconcilin
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181 44. Explanation of transition t
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183 Statement of value added For th
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185 Five-Year Financial Summary IFR
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187 IFRS 31 December 2011 NGAAP Ban
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189 Investor Information UBA is one
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191 Top ten shareholders as at 31 D
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193 Credit rating summary As of 31
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195 Key Ratio Capital adequacy rati
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Shareholder Data Form United Bank f
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E-Share Allotment Mandate Form Unit
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Admission Form United Bank for Afri
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209 Corporate Information Registere
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AFRICA LONDON NEW YORK PARIS Head o
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2012 Annual Report & Financial Statements - UBA Plc

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