2012 Annual Report & Financial Statements - UBA Plc

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126 Notes to the consolidated and separate financial statements continued … REPRICING PERIOD ANALYSIS GROUP In millions of Nigerian Naira 31 December 2012 Gross amount < 1 month 1 – 3 months Repricing period 3 – 6 months 6 – 12 months More than 1 year Nonsensitive Financial assets held-for-trading 457 457 – – – – – Investment securities 680,817 35,895 96,989 11,620 97,770 402,969 35,574 681,274 36,352 96,989 11,620 97,770 402,969 35,574 31 December 2011 Financial assets held-for-trading 1,303 237 – – – – 1,066 Investment securities 722,308 20,897 41,691 61,912 46,612 485,112 66,084 723,611 21,134 41,691 61,912 46,612 485,112 67,150 1 January 2011 Financial assets held-for-trading 2,594 1,267 – – – – 1,327 Investment securities 493,079 2,587 11,750 39,350 29,115 369,307 40,970 495,673 3,854 11,750 39,350 29,115 369,307 42,297 Bank 31 December 2012 Financial assets held-for-trading 456 456 – – – – Investment securities 527,994 22,142 58,361 5,238 76,223 330,901 35,129 528,450 22,598 58,361 5,238 76,223 330,901 35,129 31 December 2011 Financial assets held-for-trading 237 237 – – – – – Investment securities 560,028 14,994 34,155 51,085 40,767 385,954 33,073 560,265 15,231 34,155 51,085 40,767 385,954 33,073 1 January 2011 Financial assets held-for-trading 1,267 1,267 – – – – Investment securities 391,461 2,587 11,750 39,350 29,115 275,725 32,934 392,728 3,854 11,750 39,350 29,115 275,725 32,934 The Group also uses a wide range of stress tests to model the financial impact of a variety of exceptional market scenarios, such as periods of prolonged market liquidity, on individual trading portfolios and the Group’s overall position. Capital management Regulatory capital The Group’s lead regulator, the Central Bank of Nigeria sets and monitors capital requirements for the Bank. The Bank company and individual banking operations are directly supervised by the Central Bank of Nigeria and the respective regulatory authorities in the countries in which the subsidiary banking operations are domiciled. The Central Bank of Nigeria requires the Bank to maintain a prescribed ratio of total capital to total risk-weighted assets. The Group’s regulatory capital is analysed into two tiers: Tier 1 capital, which includes ordinary share capital, share premium, retained earnings, translation reserve and minority interests after deductions for goodwill and intangible assets, and other regulatory adjustments relating to items that are included in equity but are treated differently for capital adequacy purposes. Annual Report 2012
127 Tier 2 capital, which includes qualifying subordinated liabilities, collective impairment allowances and the element of the fair value reserve relating to unrealised gains on financial instruments classified as available-for-sale. Various limits are applied to elements of the capital base. The qualifying tier 2 capital cannot exceed tier 1 capital. There are also restrictions on the amount of collective impairment allowances that may be included as part of tier 2 capital. Banking operations are categorised mainly as trading book or banking book, and risk-weighted assets are determined according to specified requirements that seek to reflect the varying levels of risk attached to assets and off-balance sheet exposures. The Group’s policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business. The impact of the level of capital on shareholders’ return is also recognised and the Group recognises the need to maintain a balance between the higher returns that might be possible with greater gearing and the advantages and security afforded by a sound capital position. The capital adequacy ratio is the quotient of the capital base of the Bank and the Bank’s risk-weighted asset base. UBA Plc operates under an international banking authorisation with a minimum regulatory capital of N50 billion and a minimum capital adequacy ratio of 15%. Capital management Group Bank In millions of Nigeria naira Notes 31 December 2012 31 December 2011 31 December 2012 31 December 2011 Tier 1 capital Ordinary share capital 37 16,491 16,168 16,491 16,168 Share premium 37 107,932 108,255 107,932 108,255 Retained earnings 37 49,572 16,034 47,723 21,474 Translation reserve (1,514) 1,607 – – Other reserves 37 16,625 5,281 48,171 36,418 Non-controlling interests 3,361 3,595 – – Shareholders’ fund 192,467 150,940 220,317 182,315 Less: Fair value reserve for available-for-sale securities 37 (15,223) (11,460) (15,834) (12,300) Non-controlling interests 37 (3,361) (3,595) – – Investment in subsidiaries and equity-accounted investee 26, 27 – (10,356) (66,727) (67,538) Total 173,883 125,529 137,756 102,477 Tier 2 capital Fair value reserve for available-for-sale securities 37 15,223 11,460 15,834 12,300 Debenture stock 35 53,719 53,500 55,474 55,254 Collective allowances for impairment 22 10,358 11,322 7,189 9,883 Non-controlling interests 3,361 3,595 – – Total 82,661 79,877 78,497 77,437 Total regulatory capital 256,544 205,406 216,253 179,914 Risk-weighted assets 1,091,824 945,279 907,514 828,321 Capital ratios Total regulatory capital expressed as a percentage of total risk-weighted assets 23.5% 21.7% 23.8% 21.7% Total tier 1 capital expressed as a percentage of risk-weighted assets 15.9% 13.3% 15.2% 12.4%
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United Bank for Africa Plc RC: 2457
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1 United Bank for Africa (UBA) Plc
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3 Highlights of 2012 Performance Gr
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5 Emmanuel N. Nnorom, Executive Dir
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7 Angela Aneke, Non-Executive Direc
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9 Emem Etuk, Regional Bank Head (Cr
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11 Chairman’s Statement “We ach
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13 Sustainability In conducting our
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15 Chief Executive Officer’s Repo
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17 Net interest income grew by 34.3
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19 Review of Group Strategy Driven
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21 UBA POST-RESTRUCTURE SHAREHOLDER
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23 Group Financial Performance Revi
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25 Non-Performing Loan Ratio (%) Ou
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27 Review of UBA’s e-Banking Reso
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29 Services (SMS, e-Mail Notificati
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31 Education 2012 Projects include
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33 Projects Besides these projects,
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35 6. DIRECTORS The names of the Di
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37 10. SUMMARY OF DEALING IN UBA SH
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39 As a reflection of our diverse w
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41 Customer Complaints Report Intro
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43 Reports of the complaints receiv
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45 Appointments and retirements Dur
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47 Meetings are held at least once
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49 S/N Members Number of meetings h
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51 Audit Committee Report TO MEMBER
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53 Statement of Directors’ Respon
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55 Report on other legal requiremen
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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
Page 77 and 78: 75 (v) (w) (x) Fiduciary activities
Page 79 and 80: 77 Impairment losses on initial cla
Page 81 and 82: 79 These Board committees are suppo
Page 83 and 84: 81 In playing this role, GALCO does
Page 85 and 86: 83 Risk Management Structure In res
Page 87 and 88: 85 Financial crime risk This is the
Page 89 and 90: 87 The universal market risk factor
Page 91 and 92: 89 Business continuity management B
Page 93 and 94: 91 - periodic vulnerability assessm
Page 95 and 96: 93 General risk rating process Unit
Page 97 and 98: 95 An estimate of the fair value of
Page 99 and 100: 97 Concentration by location (net)
Page 101 and 102: 99 Bank In millions of Nigerian Nai
Page 103 and 104: 101 Bank For the year ended 31 Dece
Page 105 and 106: 103 Loans and advances individually
Page 107 and 108: 105 Statement of Prudential adjustm
Page 109 and 110: 107 Group In millions of Nigerian N
Page 111 and 112: 109 Liquidity risk management focus
Page 113 and 114: 111 The tables below show the undis
Page 115 and 116: 113 1 January 2011 In millions of N
Page 117 and 118: 115 Market risk profile The Group
Page 119 and 120: 117 Analysis of the Group’s sensi
Page 121 and 122: 119 Group 31 December 2012 In milli
Page 123 and 124: 121 Group Bank Group Bank Group Ban
Page 125 and 126: 123 Group In millions of Nigerian N
Page 127: 125 Fixed income re-pricing gap Pri
Page 131 and 132: 129 5. USE OF ESTIMATES AND JUDGEME
Page 133 and 134: 131 (b) (i) Group: December 2011 In
Page 135 and 136: 133 Business segments The Group ope
Page 137 and 138: 135 (b) Business reporting (i) 31 D
Page 139 and 140: 137 7. Financial assets and liabili
Page 141 and 142: 139 The table below sets out the Ba
Page 143 and 144: 141 9. Net fees and commission inco
Page 145 and 146: 143 16. Other operating expenses In
Page 147 and 148: 145 (c) Analysis of the result of d
Page 149 and 150: 147 21. Financial assets held-for-t
Page 151 and 152: 149 24. Investment securities In mi
Page 153 and 154: 151 In millions of Nigerian Naira (
Page 155 and 156: 153 In millions of Nigerian Naira B
Page 157 and 158: 155 (b) (i) Group As at 31 December
Page 159 and 160: 157 29. Intangible assets continued
Page 161 and 162: 159 30. Deferred tax assets and lia
Page 163 and 164: 161 30. Deferred tax assets and lia
Page 165 and 166: 163 34. Other liabilities continued
Page 167 and 168: 165 37. Capital and reserves contin
Page 169 and 170: 167 40. Related parties United Bank
Page 171 and 172: 169 41. Compensation to Employees a
Page 173 and 174: 171 44. Explanation of transition t
Page 175 and 176: 173 Reconciliation of equity In mil
Page 177 and 178: 175 Reconciliation of equity In mil
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177 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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