NSE CEO's Speech -Union Bank FBF Oct 2012 - The Nigerian Stock ...

CEO’S SPEECH AT THE FACTS BEHIND THE FIGURES (FBTF) PRESENTATION OFUNION BANK OF NIGERIA PLC ON WEDNESDAY OCTOBER 3, 2012 AT THE STOCKEXCHANGE BUILDING, MARINA - LAGOSBY OSCAR ONYEMA, NSE CEOOn behalf of the Management and Staff of The Nigerian Stock Exchange and capital marketstakeholders, I welcome the Board and Management of Union Bank of Nigeria Plc. to this FactsBehind The Figures presentation.We congratulate you for imbibing good investor relations principles by coming forward to providethe market with information about your organisation. At the Exchange, we consider the FBTF eventa rather important activity as the capital market is information driven and there is no better entityto give information about a company than the company itself.I will like to use this occasion to advise all the companies quoted on the Exchange not to wait untilthey believe they have good news before coming to give information about their organisation. It isbest to let capital market stakeholders hear first-hand from the horse’s mouth, the reason behindevery performance…be it exceptional, good or bad.Since Union Bank of Nigeria Plc. was listed on The Nigerian Stock Exchange 41 years ago (1971) ithas been a leading force in the Banking Subsector of our market and has remained a worthyexample of a strong organisation that continually does its utmost in aligning with on-goingcompliance with the post-listing standards of The Nigerian Stock Exchange. Timely and accurateinformation dissemination is key to these standards.Despite the recent storm the bank has had to weather, it has remained true to its “Big, Strong andReliable” slogan. It is interesting to note that it is the only commercial bank among the erstwhilerevitalized banks that has survived the storm with its identity intact.It would also be apt to recognize the fact that Union Bank retained its position as the BestPerforming Bank in Nigeria under the CBN-managed Agricultural Credit Guarantee Scheme Fund(ACGSF) -making it the 5 th time the bank has received this honour, since the inception of the awardsin 2006. This achievement is a clear testament of Union Bank’s efforts at developing the agriculturalsector and strengthening national food security.

The NSE Banking subsector index has returned 41.95% YTD. This represents a positive vote by theMarket on the strong fundamentals of this subsector. We call on the Banks to increase creditcreation as this will help to accelerate economic growth, while helping benefiting corporates andindividuals achieve their business objectives.We now invite the Management of Union Bank to present the Facts behind their Figures.Thank you.Oscar OnyemaChief Executive OfficerOctober 03, 2012