The United Bank for Africa Sierra Leone (UBA-SL) Limited on Friday 30 December 2022 outlined its achievements made in 2022.
Disclosure of the bank’s progress report was made by the UBA-SL Managing Director and Chief Executive Officer (MD/CEO), Usman Imam Isiaka, at the bank’s ‘End of Year Customers’ Banquet’ thrown at the Bintumani Hotel Pool Area at Aberdeen in Freetown.
Giving an insight of progress made the years by the bank UBA-SL MD/CEO said that they recorded sterling performance in the financial year 2021, as reported by their Audited Financial Statement.
He described the development as significant improvement across most parameters amidst the challenging year on a reassuring note despite the impact of COVID-19 global pandemic. “UBA closed the year 2021 with a balance sheet size of NLe1.92 billion a growth of NLe607.9 million representing a 46% increase compared to NLe1.32 billion in 2020. This growth was largely driven by growth in deposits from customers despite the challenging market situation. The bank recorded growth of 65% in customer deposits to close at NLe1.3 billion at the end of the 2021 financial year compared to NLe787.4 million in 2020 by leveraging on its digital prowess to provide 24/7 service to its customers via electronic channels to defy the Covid-19 constraints. We ended the 2021 Financial Year as the most profitable bank in the banking industry and for this we say a BIG thank you.
“Moving forward to year 2022, we have achieved the following significant milestones in our drive to attaining industry leadership among others.”
Mr Isiaka informed that based on the bank’s half year audited financial report UBA-SL was able to increase its deposit base from the NLe1.30 billion in 2021 to NLe1.62 billion and as at November 2022 it has reached Nle1.99billion an increase of NLe690million representing an impressive growth of 53%.
“Our Net Loans increased from Nle160m in December 2021 to NLe184 million as at June 2022 and to NLe230 million as at November, a growth of 44% with an impressive Non-Performing Loan ratio of less than 1%. Our Balance Sheet size (Total Assets) increased to NLe2.3 billion as at June and increased further to NLe2.95 billion, as at November 2022 representing a year to date increase of 54%”, he said and vowed that they to remain number one in profitability with wider margin.
“We significantly increased our customer base to over 400,000 by opening 190,683 accounts this year alone as we aggressively drive financial inclusion in the country in line with Bank of Sierra Leone strategic direction. We increased our branch network from 7 to 10 with 2 additional Cash Centres”
The UBA-SL MD/CEO furthered that the bank launched seven retail liability products into the market to improve financial inclusion in the country that improved UBA brand equity and top of mind awareness through various Corporate Social Responsibility initiatives, sponsorship and public relations as evidenced by the avalanche of awards received by the bank and several of its Executive Management staff in 2022.
As for awards in recognitions attained in 2022 for job well done, the UBA-SL MD/CEO said that they achieved and won the ‘Banker’s Bank of the Year 2022’ from the Financial Times of United Kingdom. He said that 2022 marked the fourth time the bank has won the prestigious award in the banking industry in Sierra Leone back to back.
He added that the bank has also won the ‘National Climate Change Partnership Award’ from Shout Climate Change Africa in conjunction with Ministry of Environment and award/recognition of the MD/CEO as Climate Change Ambassador, National Development Award for ‘Exceptional Bank of the Year in Digital Services and Financial Inclusion’ in the banking sector, The Priority Health Foundation and the Ministry of Health and Sanitation Awarded the Bank for ‘Outstanding Banking Services and dedication to the development of the Country’.
He also made mentioned of the ‘Business Excellence award’ won by the bank for its outstanding commitment to corporate excellence in the private sector and socio economic growth and human capital development in Sierra Leone at the 6th Annual Sierra Leone Leadership & Business Excellence Awards, adding that UBA-SL also won the ‘Sierra Ovation Award’ for excellent financial services, outstanding commitment and contribution to the socioeconomic development of Sierra Leone. Also on the list of the banks achievements for the year under review is the ‘Country Head of Marketing & Corporate Communication Awarded’ as ‘Best Marketing Manager of the Year’ from Diaspora Focus in conjunction with Ministry of Tourism and Cultural Affairs.
Other outstanding recognitions of the bank and its officials are: Country Chief Finance Officer, Treasurer and Head MCC received Top 100 Professional in Sierra Leone Award, Country Heads of HCM, Retail Banking and CFO received Top 100 Women in Corporate Sierra Leone Awards, The Bank and the Country Head of Compliance received Priority Health Foundation Awards for Excellence, Country Chief Operating Officer & ED, Business Development received 100 Most Outstanding Professional in Sierra Leone Award, The MD/CEO received Springs of Joy Visionary Leadership Award for his contribution towards human capital and economic development in Sierra Leone.
And to top it up, was that the MD/CEO received the ‘Best CEO in Sierra Leone Award’ at the 6th Annual Sierra Leone Leadership & Business Excellence Awards.
Dedicating a toast to guest at the banquet, Mr Usman Imam Isiaka extended profound appreciation to customers, saying: “At the bank we have excellent customer service. I am very delighted at the turnout for the UBA-SL Customer End of Year Banquet.”
He described the event as a unique opportunity to meet and interact with UBA-SL customers who enable the bank to achieve its goals.
Mr Isiaka said that UBA-SL has the highest number of customers in the banking industry, noting that the bank operates with branches everywhere and is rapidly expanding across the country, which characterizes the year under review by bank equity.
Welcoming guests to the banquet, UBA-SL Executive Director Alhaji Mohamed Samura thanked customers for their loyalty to the bank. He informed that UBA-SL has over four hundred thousand valued customers across the country.
Mr Samura said UBA-SL delivers quality financial service, and expressed hope that customers would continue to stay with UBA, as he wishes all a bright, productive and prosperous new year.
The Chairman of UBA-SL Board of Directors, Dr Claudius Bert-Williams, said his could be the easiest job at the bank as they all speak the same language. He informed that UBA- SL has won ‘Bank of the Year 2022’.
Dr Bert-Williams registered the bank’s profound gratitude and appreciation to customers for their loyalty to the UBA-SL.
