2012 Annual Report & Financial Statements - UBA Plc

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30 Sustainability and Corporate Social Responsibility Report Sustainability In UBA, we are committed to running our business in a socially responsible and environmentally friendly manner. UBA is appreciative of the fact that Sustainable Banking is critical to the success of any Bank and embodies two main concepts: • Corporate Social Responsibility (CSR) • Environmental Risk Management (ERM) Building sustainability thinking into our DNA is our long-term mission, and will involve understanding the linkages between our operations, the communities where we have presence and the changes in the global environment. We believe we can make positive impact on people’s lives through creating access to affordable financial services irrespective of status, race or gender. We will continue to assist in creating job opportunities in communities where we operate and will undertake varied social projects that promote education, health and safety, Corporate Social Responsibility and Environment Management System and to work in conjunction with our various stakeholders towards attaining internationally accepted practices and standards. Corporate Social Responsibility Our CSR is all encompassing, beginning with our staff and extending externally to other stakeholders. UBA Foundation therefore is the social extension of the Group’s core values of Humility, Empathy, Integrity and Resilience. UBA Foundation (UBAF) has from inception been driving the Group’s deliberate corporate strategy of sustainable development that combines our banking excellence with social interventions in our chosen need areas of education, health, human capital development and special projects. By investing in the social, economic and environmental needs of the countries and communities where we conduct our businesses, the Group aims to deepen goodwill while ensuring sustainable operations, by contributing to the improvement of the quality of life. Partnering with Stakeholders Our CSR activities are executed across Africa. In doing this, we strive to develop unique programs and development actions that impact on individual and community lives thereby bridging social and economic gaps that are inherent in the various environments we operate in. At every point in the execution of these programmes, internal and external stakeholders are actively engaged to ensure the maximisation of resources for strongest impact in identified critical need areas. All these are done using global frameworks and metrics for best practice and impact measurement. UBA Foundation, the Bank’s corporate social responsibility arm, as part of its wider contribution to the Bank’s community and social engagement programme, provides an annual grant of USD2 million to the Tony Elumelu Foundation, one of Africa’s leading philanthropies, with a specific focus on the promotion of entrepreneurship and business leadership across Africa. In this way, the Bank believes it achieves a focused and effective way of implementing its commitment to improving the opportunities for entrepreneurship and the business environment across Africa. Annual Report 2012
31 Education 2012 Projects include READ AFRICA and Annual projects like the READ AFRICA initiative, UBA Foundation National Essay Competition (Nigeria). The 2012 READ AFRICA project was centered on the book “Weep not Child” written by Ngugi wa Thiong’O, the renowned Kenyan author who visited Nigeria in July, 2012 to kick start the year’s programme. The initiative saw the Management staff of UBA pay visits to schools, with role models to drive mentorship and career emulation by pupils and students across Africa. Thousands of books were donated to students in addition to reading and mentoring sessions held aimed at rekindling what is largely seen as the dwindling reading culture amongst African youths. Pic 1 Pic 2 Pic 3 Pic 1: Pic 2: Pic 3: Professor Ngugi Wa Thiong’O at the launch of the ‘READ AFRICA’ 2012 with senior management of UBA Plc, students of Kings College Lagos and Holy Child College. A student of Baptist Academy Obanikoro, asking Professor Ngugi Wa Thiong’O a question. Mrs Mary Udu-Ejembi, Assistant Director, Budget Office, Federal Ministry of Finance and UBA Foundation Trustee (2nd right) and Ms Ijeoma Aso, MD/CEO UBA Foundation, leading the reading session. The increased number of entries in the 2012 UBA Foundation’s National Essay Competition was a clear indication of how much Nigerians have bought into the initiative and of the impact the project made the previous year. In the 2012 competition, a total of 2,847 entries were sent in from various schools across Nigeria, representing more than a 100% increase from the 1,217 entries received in 2011. This is a strong indication that the UBA Group’s objective of instilling the spirits of competitiveness, aspiring for excellence and awakening the consciousness for the quest for knowledge is manifesting and yielding fruits in the lives of school children. As a demonstration of our commitment to educational development, the UBA Foundation gave educational grants to the three finalists to help with their tuition in any African university where they are admitted.
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 and 10: 7 Angela Aneke, Non-Executive Direc
Page 11 and 12: 9 Emem Etuk, Regional Bank Head (Cr
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: 29 Services (SMS, e-Mail Notificati
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
Page 61 and 62: 59 (ii) Bank In millions of Nigeria
Page 63 and 64: 61 (ii) Bank In millions of Nigeria
Page 65 and 66: 63 Notes to the consolidated and se
Page 67 and 68: 65 recognition of further losses is
Page 69 and 70: 67 Deferred tax assets and liabilit
Page 71 and 72: 69 - there is an observable data in
Page 73 and 74: 71 Any interest in transferred fina
Page 75 and 76: 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
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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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