2012 Annual Report & Financial Statements - UBA Plc

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184 Statement of value added For the Year Ended 31 December 2012 2011 N’million % N’million % Bank Gross revenue 177,429 126,098 Interest paid (51,302) (41,203) 126,127 84,895 Administrative overheads: – local 36,748 37,737 – foreign (643) (602) Value added 88,736 100 46,556 100 Distribution Employees – Salaries and benefits 32,999 37 38,103 82 Providers of funds – Proposed dividend – – – Government – Taxation (1,195) (2) – – The future – Asset replacement (depreciation and amortisation) 6,903 8 8,239 17 – Asset replacement (provision for losses) 2,654 2 8,180 18 – Expansion (transfer to reserves and non-controlling interest) 47,375 55 (7,966) (17) 88,736 100 46,556 100 Annual Report 2012
185 Five-Year Financial Summary IFRS 31 December 2011 NGAAP Group In millions of Nigerian Naira 31 December 2012 1 January 2011 31 December 2009 30 September 2008 ASSETS Cash and cash equivalents 714,115 434,218 385,397 68,225 120,088 Treasury bills and other eligible bills – – – 42,035 174,005 Financial assets held for trading 457 1,303 2,594 Due from other banks – – – 470,195 654,869 Loans and advances to banks 28,513 41,564 11,226 – – Loans and advances to customers 658,922 605,627 590,797 606,616 431,410 Investment securities – – – 188,407 126,895 – Available-for-sale investments 128,665 96,744 124,144 – – – Held to maturity investments 552,152 625,564 368,935 – – Investments in equity accounted investee – 10,356 10,118 9,506 1,488 Goodwill – – – 2,983 – Investment property – – – 269 589 Property and equipment 70,746 55,618 62,009 73,042 61,553 Intangible assets 7,568 5,930 6,626 – – Deferred tax assets 29,624 26,998 7,049 – – Other assets 18,598 16,513 30,290 87,003 102,436 Non-current assets held for distribution 63,563 – – – – TOTAL ASSETS 2,272,923 1,920,435 1,599,185 1,548,281 1,673,333 LIABILITIES Derivative liabilities 124 817 9,310 – – Deposits from banks 57,780 19,510 7,456 15,807 32,000 Deposits from customers 1,720,008 1,445,822 1,270,409 1,245,650 1,333,289 Managed funds – 51,943 32,753 22,138 40,558 Current tax liabilities 1,274 2,627 2,869 3,385 5,606 Dividend payable – – – 20 42 Deferred tax liabilities 59 26 30 2 993 Subordinated liabilities 53,719 53,500 18,335 – – Borrowings 114,520 137,040 63,327 14,760 – Other liabilities 81,438 58,210 41,671 58,187 65,564 Retirement benefit obligations – – – 1,503 – Liabilities held for distribution 51,534 – – – – TOTAL LIABILITIES 2,080,456 1,769,495 1,446,160 1,361,452 1,478,052 EQUITY Share capital and share premium 124,423 124,423 124,423 124,423 122,658 Reserves 64,683 22,922 25,705 57,090 70,802 EQUITY ATTRIBUTABLE TO EQUITY – HOLDERS OF THE BANK 189,106 147,345 150,128 181,513 193,460 Non-controlling interest 3,361 3,595 2,897 5,316 1,821 TOTAL EQUITY 192,467 150,940 153,025 186,829 195,281 TOTAL LIABILITIES AND EQUITY 2,272,923 1,920,435 1,599,185 1,548,281 1,673,333
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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
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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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Page 137 and 138: 135 (b) Business reporting (i) 31 D
Page 139 and 140: 137 7. Financial assets and liabili
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Page 147 and 148: 145 (c) Analysis of the result of d
Page 149 and 150: 147 21. Financial assets held-for-t
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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
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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 181 and 182: 179 Material adjustments reconcilin
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Page 185: 183 Statement of value added For th
Page 189 and 190: 187 IFRS 31 December 2011 NGAAP Ban
Page 191 and 192: 189 Investor Information UBA is one
Page 193 and 194: 191 Top ten shareholders as at 31 D
Page 195 and 196: 193 Credit rating summary As of 31
Page 197 and 198: 195 Key Ratio Capital adequacy rati
Page 199: Shareholder Data Form United Bank f
Page 203: E-Share Allotment Mandate Form Unit
Page 207: Admission Form United Bank for Afri
Page 211 and 212: 209 Corporate Information Registere
Page 214: AFRICA LONDON NEW YORK PARIS Head o
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2012 Annual Report & Financial Statements - UBA Plc

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