2009 Annual Report and Financial Statements - UBA Plc

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Risk management report (continued) Investment risk In line with our expanded identifi cation of principal risks, we prepared a Policy on Investment Risk and constituted an Investment Committee to ensure proper governance and oversight. A draft investment decision risk assessment methodology covering scenario analysis, assumption sensitivity analysis was prepared with a view to formalisation of the investment risk assessment methodology in 2010, after a framework for investment underwriting risk acceptance has been implemented. Cross-border risk management framework To address risks of the Group’s Pan-African expansion strategy, investment has been made in enhancing the Group’s cross-border risk management framework. A dedicated Chief Risk Offi cer for Africa was appointed to drive the Africa risk management framework. In-country risk functions management was established and enhanced. The scope of central risk functions was broadened to provide eff ective oversight over the risk profi les of the African subsidiaries. Hedging During the year under review, the group has initiated a hedging programme. The objective of the programme is to implement hedging structures that will protect the Group’s earnings stream from downside volatility in all the markets in which it operates. The programme leverages off the Group’s risk and risk measurement capabilities and will deploy derivatives based hedging structures to protect the Group’s earnings from the impact of currency and commodity price volatility going forward. Annual Report 2009 115 Financials
Shareholder information MARKET STATISTICS UBA has been listed on the NSE since 1970. The chart below illustrates UBA’s share price performance over the last three years to December 2009. The chart compares the NSE market index with the performance of UBA shares after adjusting for all bonus issues during the period. UBA share price versus the NSE All Share Index for the period 3 January 2006 to 31 December 2009 • UBA’s share price has outperformed the NSE Index over the years till 2008, underperformed the index in the fi rst quarter of 2009 before moving in tandem with the market during the last three quarters of 2009. These periods of sub-optimal performance resulted from the global fi nancial market challenges, which impacted Nigeria’s banking industry with the attendant impact on banks’ shares. • As at 31 December 2009 UBA’s market capitalisation was N232 805 million which represented 4.5% of total market capitalisation of listed equities. SHAREHOLDING STRUCTURE The authorised share capital of the Bank is N17 500 000 000 made up of 35 000 000 000 ordinary shares of 50 kobo each. The issued and paid-up share capital of the Bank as at 31 December 2009 was N10 778 231 231 made up of 21 556 462 462 ordinary shares of 50 kobo each. 116 Annual Report 2009
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United Bank for Africa Plc RC: 2457
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Deposits (N’Billion) 1500 1200 90
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Group at a glance Countries of oper
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Board of directors 4 Annual Report
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Board of directors (continued) 6 An
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Board of directors (continued) 8 An
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Senior management 10 Annual Report
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Chairman’s statement CHIEF FERDIN
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Chairman’s statement (continued)
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Group Managing Director/Chief Execu
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Review of Group’s fi nancial perf
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Review of Group’s fi nancial perf
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Our products and services Selected
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Corporate social responsibility rep
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Directors’ report for the period
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Directors’ report (continued) •
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Directors’ report (continued) AUD
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Corporate governance report (contin
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Report of the Audit Committee To Me
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Report of the independent auditors
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Accounting policies for the period
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Consolidated profi t and loss accou
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Consolidated cash fl ow statement f
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Notes to the consolidated fi nancia
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Page 129 and 130: Notice of annual general meeting (c
Page 131 and 132: Notes 128 Annual Report 2009
Page 134: e-Dividend mandate form Dear Shareh
Page 137 and 138: Registrars UBA Registrars Limited R
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2009 Annual Report and Financial Statements - UBA Plc

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