2009 Annual Report and Financial Statements - UBA Plc

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Vision To be the undisputed leading and dominant fi nancial services institution in Africa Mission 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 Who we are UBA Plc is the leading fi nancial services group in West Africa with presence in 16 African countries as well as United Kingdom, United States of America and France. Beyond traditional banking services, the Bank provides innovative fi nancial services through its network of subsidiaries, providing investment banking, wealth management, trusteeship, life insurance, pension custody, stock-broking and investor registrarship services. UBA Plc. is quoted on the Nigerian Stock Exchange. What we do United Bank for Africa plc PRODUCTS UBA is a full service fi nancial institution off ering a complete range of over 200 banking, bancassurance and wealth management products and services. MARKET UBA has over 7.2 million customers in personal, commercial and corporate market segments. The bank’s operations is spread across 19 countries, consisting of Nigeria, 15 other African countries, United States of America, United Kingdom and France. CHANNELS UBA has the largest distribution network in Nigeria. As at 31 December 2009, there were 711 branches and retail outlets, 1 635 ATMs and 1 230 POS machines fully deployed. STAFF The group currently has over 13 000 staff worldwide. Annual Report 2009 3 Group at a glance
Board of directors 4 Annual Report 2009 CHIEF FERDINAND ALABRABA Non-Executive Chairman Appointed 2005 Graduate of Quantity Surveying from the University of Reading, England; MSc in Construction Economics and Management from Aston University, England; Fellow of various professional bodies, including the Royal Institute of Chartered Surveyors, Nigerian Institute of Quantity Surveyors and Institute of Construction Industry Arbitrators, Nigeria. Served as a Director on many boards, including African Continental Bank, Continental Trust Bank, Crown Realities and Standard Trust Bank; Currently the Managing Partner/Chief Executive of Aman Associates. TONY ELUMELU, MFR Group Managing Director/CEO Appointed 2005 Retiring 2010 Holds graduate and post-graduate degrees in Economics and alumnus of Harvard Business School and IMD Advanced Management Programmes. Has been actively involved in the Nigerian private sector for the past two decades. Conceived and managed the merger of Standard Trust Bank and United Bank for Africa and the subsequent acquisition of Continental Trust Bank, creating the largest fi nancial services group in West Africa; Championed UBA Plc‘s purchase and assumption of Trade Bank, City Express Bank, Gulf Bank, Metropolitan Bank, Afex Bank and Liberty Bank; Presided over the acquisition and integration of two major banks in West Africa (Burkina Faso and Republic of Benin) and the rollout of banking operations in 12 other African countries with total branch network of about 117 – all in pursuance of the UBA Group‘s aspiration to be Africa‘s Global Bank. Honoured as a Member of the Order of the Federal Republic of Nigeria (MFR) in 2003 and holder of numerous other local and international awards, he is a strong proponent of public-private partnership for national development. Sits on the boards of several companies [including ValuCard Nigeria Plc, Central Securities Clearing System and United Bank for Africa (Ghana) Limited] and has served on various national and presidential committees. Steps down as GMD/CEO on 31 July 2010 after 13 years at the helm.
Page 1 and 2: United Bank for Africa Plc RC: 2457
Page 3 and 4: Deposits (N’Billion) 1500 1200 90
Page 5: Group at a glance Countries of oper
Page 9 and 10: Board of directors (continued) 6 An
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Page 13 and 14: Senior management 10 Annual Report
Page 15 and 16: Chairman’s statement CHIEF FERDIN
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Page 19 and 20: Group Managing Director/Chief Execu
Page 25 and 26: Review of Group’s fi nancial perf
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Page 37 and 38: Directors’ report for the period
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Page 45 and 46: Report of the Audit Committee To Me
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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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Risk management report (continued)
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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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