2009 Annual Report and Financial Statements - UBA Plc

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2005 – 2010: 5 Years of Achievement 1 2 3 Merger of STB& UBA Our Vision, Mission and Core Values UBA’s 3-Tier Strategic Intent – ‘Africa’s global bank’ UBA Africa’s Contribution to the Group 10.60% 10.40% 10.20% 10.00% 9.80% 9.60% 9.40% 4 5 Gross Earnings (N’Billion) 250 200 150 100 50 0 Deposits Brand Enhancement & Visibility e-Payment Leadership & Africa . . . United by One Bank 26.09 2005 Loans Revenue 246.73 2009 ■ The historic merger of the then STB and UBA in 2005; the 5th and 3rd largest Banks in Nigeria – The fi rst of its kind in Nigeria. ■ Key elements of the integration of the two culturally diff erent institutions were achieved in record time. Vision and Mission statements were developed that would direct our employees and keep us all focused on our aspirations. Core Values were also articulated and communicated to ensure values were shared across the organisation. ■ Vision – To be the undisputed leading and dominant fi nancial service provider in Africa ■ Mission Statement – To be a role model for African businesses by creating superior value for all our stakeholders; abiding by the utmost professional and ethical standards and by building an enduring institution ■ Core Values – H – Humility; E – Empathy; I – Integrity; R – Resillence 3-Tier strategic intent: ■ To be the dominant and clear leader in the fi nancial services industry in Nigeria ■ To be a leading African Bank with presence in most African countries ■ To establish a Global presence with a footprint in key fi nancial centres in the world ■ 700 branches in Nigeria – the largest branch network in the country ■ Operating presence in 16 African countries ■ Branch in New York, a subsidiary in the UK and a representative offi ce in France ■ All locations outside Nigeria with exception of New York and Ghana branches which were established within the last four years ■ Twenty (20) African countries by 2010 and will soon extend our global presence to China and Dubai ■ Invested in brand building activities across our geographies as part of our global brand visibility drive ■ Moved up 166 places from 451 to 285 positions in the Top 500 global banking brands as ranked by the Banker Magazine ■ Awarded an “A” rating in the annual ranking of banks worldwide, with a brand value estimated at US$322 million ■ Second fastest growing fi nancial services brand in the world and the fi rst outside of the United States of America ■ Named by The Boston Consulting Group among one of 40 African Challengers ■ Dominant market share across all e-payment channels, including ATMs, Internet and mobile banking ■ Largest ATM network ■ Leader in Nigeria on cards ■ Launched Africash and Afritrade products to provide integrated platforms to facilitate remittances and trade across Africa ■ Africard will soon be launched to enable UBA cardholders transact across our African network Profit Before Tax and Exceptional Items (N’Billion) 15 12 9 6 3 0 6.52 2005 13.66 2009 Equity Base (N’Billion) 200 150 100 50 0 19.44 2005 186.83 2009
Deposits (N’Billion) 1500 1200 900 600 300 0 6 7 8 9 10 205 2005 Leadership Training & Development Customer Service Group Shared Services (GSS) Cost Management Financial Performance 1,250 2009 Total Assets (N’Billion) 2000 1500 1000 500 0 ■ Established a performance management system built on meritocracy ■ Attracted the best of local and foreign talent. Africans in Diaspora have returned to Africa through UBA ■ Established an in house training institution, the UBA Academy to train all cadres of staff in banking and leadership programmes ■ UBA Academy launched the GMD Inspirational Lecture Series (GILS) in 2009, a quarterly interactive learning platform targeted at the Group’s senior executives ■ Notable past guest speakers of GILS include Dr Christopher Kolade, Dr Ngozi Okonjo-Iweala, and most recently Gen. Martin Lurther Agwai (Rtd.) Amongst others Established a Customer Service Directorate focused on three pillars: ■ Training our customers and staff ■ Customer Interaction and Complaint Management Service Quality Assurance ■ Customer Service Training ■ Trained over 11 000 staff on our H.E.I.R. core values ■ Over 2 000 marketing staff on product-specifi c knowledge ■ Over 9 000 staff on the Customer Service Excellence Programme ■ Instituted various Customer Service initiatives such as the Customer Service Day is held on the last Friday of the month to better manage and serve our customers ■ To transform our branches from a reactive operations centre focusing on transactions to a proactive sales and service centre focusing on customer relationship and sales ■ The GSS platform now covers all our operations in Nigeria and we are extending this to all subsidiaries in Africa and non bank subsidiaries ■ Implementation of the GSS has resulted in 40% reduction in direct operations costs across the bank and process improvements ■ We have increased focus on managing cost, driving effi ciency and embedding cost reduction consciousness in our employees ■ Project 20 was launched to research our existing business models, apply rigorous thinking and best practices for sustainable profi tability Growth in most fi nancial indices Unit/Currency 2005 2009 Gross earnings N’Billion 26.09 246.73 Profi t before tax and exceptional items N’Billion 6.52 13.66 Equity base N’Billion 19.44 186.83 Deposits N’Billion 205.00 1 250.00 Total assets N’Billion 250.80 1 550.00 Balance sheet size N’Billion 332.60 2 240.00 Share price Naira 10.00 14.85 251 2005 1,550 2009 Balance Sheet Size (N’Billion) 2500 2000 1500 1000 500 0 333 2005 2,240 2009 Share Price (N) 15 12 9 6 3 0 10 2005 14,85 2009
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Page 5 and 6: Group at a glance Countries of oper
Page 7 and 8: Board of directors 4 Annual Report
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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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Group fi ve-year fi nancial summary
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Risk management report ENTERPRISE-W
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Shareholder information MARKET STAT
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Shareholder information (continued)
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Shareholder information (continued)
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Glossary AML Anti Money Laundering
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Corporate information (continued) N
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Notice of annual general meeting (c
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Notes 128 Annual Report 2009
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e-Dividend mandate form Dear Shareh
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Registrars UBA Registrars Limited R
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2009 Annual Report and Financial Statements - UBA Plc

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