Sometimes I forget the word UBA was an acronym for United Bank of Africa. UBA has about 19 branches spread across Africa and contributes about 23% of its profits according to its MD, Phillips Odozua.
“I believe that we should be able to exceed that 50 (percent) by 2015. Today, in terms of earnings, we’re talking of Africa contributing about 23 percent. The good thing is that most of the African operations have entered into profit. By the end of this year all of them should be in profit.”
It will be interesting to see how this affects their Nigerian operations as they are currently in danger of slipping into 5th place, as the biggest bank by deposits in Nigeria.