Connect with us

Business

Customer Service Week: UBA Hinges Customer Satisfaction on Innovation, Optimisation and Upgrading of Banking Platforms

Published

on

Pan African financial institution, United Bank for Africa (UBA) Plc, has said that the recently embarked transformation of its processes is to ensure that customers’ expectations are not only met but surpassed while enjoying seamless and world-class banking services. 

 In ensuring this, the bank has embarked on several initiatives that include streamlining and automating its processes, upgrading technology, training, and rewarding staff excellence all towards ensuring that customers enjoy the very best of services.

 UBA’s Head of Operations, Alex Alozie, who explained this during a virtual media parley on Wednesday, October 7, 2020, to mark the 2020 Customer Service Week, said the bank has intensified its focus on putting the customer first whilst still reaffirming its leadership position.

Alozie said that in line with this year’s theme, the ‘Dream Team’, which embodies UBA’s core goals, the bank has recorded considerable milestones in its journey.   

 He said, “In the last one year we have embarked on an intensive drive to transform our services across all service touchpoints including but not limited to banking halls, channels – internet, mobile, USSD, etc in Nigeria, Africa, and territories where we operate. We have ensured that our customers enjoy self-service, where they can carry out their transactions seamlessly on their devices, without visiting the banking hall. This has further boosted customers’ confidence as the services provide ease and convenience, especially during the Covid-19 pandemic. 

 “Honestly,  I will say that the pandemic brought out the best of us. With newly improved products like UBA Connect – where our customers can carry out transactions from anywhere in the world – and our recently improved Mobile App, our uptime has improved significantly, and our branch operations have also recorded considerable improvement. All these are the outcome of the transformation journey which we embarked upon,” Alozie noted.

 He added that there have been cases of failed transactions, and the bank has taken relevant corrective and preventive actions for service improvement. 

 UBA’s Group Head, Marketing and Customer Experience, Michelle Nwoga, pointed out that the bank is focused on being more intentional in the quality of service delivery to customers. She added that strategic initiatives have been implemented to deliver a differentiated experience to customers across all service touchpoints. 

 According to her, UBA is keen on meeting the demands of today’s diversified customer base by focusing on innovation, process re-engineering, experience optimization, and technology upgrade, etc. This is all in our effort to improve our service delivery, improve our customers’ satisfaction, and deepen our market share.  

 “Apart from this, we have also embarked on thoroughly equipping our people to deliver exceptional service, while also leveraging on data for insight to guide business decision making. We are no longer a one-size-fits-all organization, as we now personalize services based on individual specific demands; this is largely because we know that the customer is the only one that matters, and we tailor all our activities in line with their expectations,” Nwoga noted.

The Customer Service Week is celebrated annually all over the world and recognizes the importance of customer service and seeks to show appreciation to the staff who serve and support customers with the highest degree of care and professionalism.

 United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than twenty-one million customers, across over 1,000 business offices and customer touchpoints, in 20 African countries. 

With a presence in the United States of America, the United Kingdom, and France, UBA is connecting people and businesses across Africa through retail; commercial and corporate banking; innovative cross-border payments and remittances; trade finance, and ancillary banking services

Continue Reading
Advertisement

Bank

FRESH: GTCO Plc Releases 2024 Full Year Audited Results…..…Pays Shareholders Record Dividend of N8.03k for 2024 Financial Year

Published

on

FRESH: GTCO Plc Releases 2024 Full Year Audited Results…..…Pays Shareholders Record Dividend of N8.03k for 2024 Financial Year

Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Audited Consolidated and Separate Financial Statements for the year ended December 31, 2024, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).

The Group reported profit before tax of ₦1.266trilion, representing an increase of 107.8% over ₦609.3billion recorded in the corresponding year ended December 2023. This performance reflects not just strong earnings but also the quality and sustainability of our earnings, underpinned by a well-diversified revenue base, robust risk management practice, and disciplined capital management.

The Group recorded growth across all financial and non-financial metrics, and continues to maintain a well-structured, healthy, and diversified balance sheet. The Group’s loan book (net) increased by 12.3% from ₦2.48trillion in December 2023 to ₦2.79trillion in December 2024, while deposit liabilities grew by 37.8% from ₦7.55trillion to ₦10.40trillion during the same period. Total assets and shareholders’ funds closed at ₦14.8trillion and ₦2.7trillion, respectively. Capital Adequacy Ratio (CAR) remained very robust and strong, closing at 39.3%, likewise, asset quality was sustained as evidenced by IFRS 9 Stage 3 Loans which closed at 3.5% at Bank Level and 5.2% at Group in December 2024 (2023: Bank, 2.5%; Group, 4.2%) and cost of risk (COR) closed at 4.9% from 4.5% in December 2023.

Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc (GTCO Plc), Mr. Segun Agbaje, said; “Our strong performance for 2024 underscores the resilience and depth of our business, driven by a well-diversified earnings base across our banking and non-banking subsidiaries, all of which are P&L positive. Our capacity to generate sustainable high-quality earnings, maintain strong asset quality, and drive cost efficiencies reflects the soundness of our long-term strategy and disciplined execution. We have also prudently provided for all our forbearance loans, well ahead of the June 2025 timeline, whilst fully accruing for the windfall tax, further strengthening our balance sheet and enhancing financial resilience.

He further added; “The total dividend of N8.03k for the 2024 FYE is underpinned by the quality of our earnings and is in line with our long tradition of increasing dividend pay-out year-on year. Looking ahead, we remain committed to building a Financial Services Group that thrives on innovation, operational efficiency, and sustainable profitability. We will continue to deepen our relationships with customers, leverage technology to deliver cutting-edge financial solutions, and accelerate the growth of all our business verticals—Banking, Funds Management, Pension, and Payments—to unlock new opportunities and create more value for our shareholders.”

Overall, the Group continues to post one of the best metrics in the Nigerian Financial Services industry in terms of key financial ratios i.e., Pre-Tax Return on Equity (ROAE) of 60.5%, Pre-Tax Return on Assets (ROAA) of 10.3%, Capital Adequacy Ratio (CAR) of 39.3% and Cost to Income ratio of 24.1%.

Guaranty Trust Holding Company Plc (GTCO Plc) is a leading financial services group with operations across Africa and the United Kingdom. Renowned for its strong corporate governance, innovative financial solutions, and customer-centric approach, GTCO Plc provides a wide range of banking and non-banking services, including payments, funds management, and pension fund administration. The Group is committed to delivering long-term value to stakeholders while driving growth and development across its markets.

Continue Reading

Business

Court Crushes Fraud Allegations Against Zinox Boss, Labels Case ‘Campaign of Persecution’

Published

on

Court Crushes Fraud Allegations Against Zinox Boss, Labels Case ‘Campaign of Persecution’

 

In a dramatic courtroom turn, Justice Akpan Okon Ebong of the FCT High Court has once again cleared billionaire tech magnate Leo Stan Ekeh, Chairman of Zinox Technologies, alongside his wife Chioma Ekeh and 11 others, dismissing the ₦162 million fraud allegations filed against them as a “gross abuse of court process.”

The high-profile suit was spearheaded by renowned human rights lawyer Femi Falana (SAN), who purportedly acted on the authority of a fiat granted by Nigeria’s Attorney General and Minister of Justice, Lateef Fagbemi. The case alleged fraudulent diversion of funds linked to a laptop supply contract with the Federal Inland Revenue Service (FIRS), on behalf of Benjamin Joseph, CEO of Citadel Oracle Concept Limited.

However, Justice Ebong delivered a scathing rebuke, highlighting that the case had already been exhaustively investigated by multiple courts and law enforcement agencies, all of which found the allegations unsubstantiated.

“One intriguing aspect of this matter is that none of the law enforcement agencies involved in the investigation of the nominal complainant’s (Mr. Joseph) numerous petitions has found merit in any of his allegations against the defendants,” Justice Ebong remarked, sharply critiquing the persistence of the plaintiff. The judge added, “When called upon before Senchi J. (Justice Danlami Z. Senchi) to prove his said allegations to the court, he failed to turn up in court. One then wonders on what premise he wants to maintain this campaign of persecution against the defendants.”

In his certified ruling dated March 20, 2025, Justice Ebong unequivocally stated:
“It is my conclusion based on the foregoing that this charge (No. FCT/HC/CR/985/2024, Federal Republic of Nigeria v Leo Stan Ekeh and 12 ORS) constitutes a gross abuse of court process and is liable to dismissal. I accordingly hereby dismiss it.”

Defense lawyer Chris Eze Ozims welcomed the ruling, noting, “This judgment aligns with previous court decisions, reaffirming that these allegations are baseless.”

Chief defense counsel Matthew Burkaa (SAN) went further, describing the verdict as a “victory for integrity and the rule of law.”

Continue Reading

Bank

ZENITH BANK MAINTAINS IMPRESSIVE  TRACK RECORD AS PBT HITS N1.3 TRILLION, PROPOSES N4.00 FINAL DIVIDEND

Published

on

ZENITH BANK RAISES OVER N350 BILLION IN COMBINED RIGHTS ISSUE AND PUBLIC OFFER

ZENITH BANK MAINTAINS IMPRESSIVE  TRACK RECORD AS PBT HITS N1.3 TRILLION, PROPOSES N4.00 FINAL DIVIDEND

Zenith Bank Plc has announced its audited financial results for the year ended December 31, 2024, delivering   significant   growth   across   key   performance   indicators.   The   Bank’s   impressive performance reflects effective management and pricing of its risk assets, as well as an optimized treasury portfolio, reinforcing its position as a leader in Nigeria’s banking industry.According to the audited financial results for the 2024 financial year presented to the Nigerian Exchange (NGX), the Bank recorded a double-digit year-on-year (YoY) growth of 86% in gross earnings, increasing from N2.13 trillion in 2023 to N3.97 trillion in 2024.
This growth was driven by a 138% increase in interest income, supported by investment in high-yield government securities, and growth in the Bank’s loan book.Commenting on the results, Dame Dr Adaora Umeoji OON, Group Managing Director/CEO, stated “This year’s performance underscores our unwavering commitment to innovation and customer-centric solutions. We will also remain focused on deepening financial inclusion, enhancing service delivery, and creating value for our customers and stakeholders.Zenith Bank’s profit before tax (PBT) rose by 67%, reaching N1.3 trillion in 2024 from N796 billion in 2023, driven by a combination of top-line expansion and efficient treasury portfolio management. Net interest income increased by 135% from N736 billion in 2023 to N1.7 trillion, reinforcing the Bank’s strong core  banking  performance and ability to grow earnings despite macroeconomic headwinds.
Non-interest income also grew by 20% from N919 billion to N1.1 trillion. The Bank’s total assets grew by 47% from N20 trillion in 2023 to N30 trillion in 2024, underpinned by a strong liquidity position and effective balance sheet management. Customer deposits surged by 45% from N15 trillion to N22 trillion in 2024, reflecting a historically strong corporate deposits portfolio and a sustained increase in retail deposits. The increase in retail deposits was driven by customer acquisition and the Bank’s strategic focus on low-cost funding.Return on Average Equity (ROAE) declined to 32.5% on the back of the injection of new capital, while Return on Average Assets (ROAA) remained unchanged at 4.1%. The Bank’s cost-to-income increased slightly from 36.1% to 38.9%, despite inflationary pressures. Its Non-Performing Loan (NPL) ratio stood at 4.7%, with a coverage ratio of 223%, underscoring the Bank’s prudent risk management   and   commitment   to   maintaining   a   resilient   loan   book,   ensuring   stability   and confidence in the Bank’s operations.Given the good earnings performance, the Bank has proposed a final dividend of N4.00 per share, which brings the total dividend for the year to N5.00 per ordinary share. In a significant milestone, Zenith Bank successfully raised N350 billion in capital through a rights issue and public offer, with a subscription rate of 160%, demonstrating strong investor confidence  in the Bank’s growth trajectory.
The proceeds from this capital raise will be strategically deployed to enhance technology infrastructure, strengthen liquidity, and support the Bank’s expansion into key African markets, unlocking new growth opportunities. The bank remains focused on delivering sustainable growth, enhancing shareholder value, and driving financial inclusion through innovative banking solutions. With its solid capital base and innovative product offerings, the Bank is well-positioned to navigate evolving market conditions while continuing to strengthen its leadership in the Nigerian financial landscape.Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the fifteenth consecutive year in the 2024 Top 1000 World Banks Ranking, published by The Banker Magazine. The Bank was also awarded the Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020, 2022 and 2024; and Best Bank in Nigeria for four times in five years, from 2020 to 2022 and in 2024, in the Global Finance World’s Best Banks Awards.Further recognitions include Best Commercial Bank, Nigeria for four consecutive years from 2021 to   2024   in   the   World   Finance   Banking   Awards   and   Most   Sustainable   Bank,   Nigeria   in   the International   Banker   2023   and   2024   Banking   Awards.   Additionally,   Zenith   Bank   has   been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance  Awards   for   2022,   2023 and 2024  and   ‘Best   in Corporate  Governance’   Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom. The Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands for 2020 and 2021, Bank of the Year 2023 and 2024 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards, and Retail Bank of the Year for three consecutive years from 2020 to 2022 and in 2024 at the BAFI Awards.
The  Bank   also   received   the   accolades of  Best   Commercial   Bank,   Nigeria   and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards. Zenith Bank was also named Most Responsible Organisation in Africa, Best Company in Transparency and Reporting and Best Company in Gender Equality and Women Empowerment at the SERAS CSR Awards Africa 2024; Bank of the Year 2024 by ThisDay Newspaper; Bank of the Year 2024 by New Telegraph Newspaper; and Best in MSME Trade Finance, 2023 by Nairametrics.

Continue Reading

Cover Of The Week

Trending