UBA Cap­i­tal share­hold­ers task new GCEO on per­for­mance

Daily Trust - - NEWS - From Kay­ode Ogun­wale, La­gos

Share­hold­ers of UBA Cap­i­tal Plc have called on the new Group Chief Ex­ec­u­tive Of­fi­cer of the bank, Mrs. Oluwa­toyin Sanni, to en­sure that the com­pany sus­tains and sur­pass its present per­for­mance.

The share­hold­ers stated this in La­gos on Tues­day at the com­pany’s An­nual Gen­eral Meet­ing. They also ad­vised the CEO to de­velop poli­cies and strate­gies that would boost the ac­tiv­i­ties of the bank. Speak­ing on be­half of share­hold­ers, the pres­i­dent of In­de­pen­dent Share­hold­ers As­so­ci­a­tion of Nigeria, Mr.

Sunny Nwosu, said they ex­pect a bet­ter per­for­mance from Mrs. Sanni, adding that the com­pany must re­main an in­vest­ment bank­ing in­sti­tu­tion to be reck­oned with within and out­side the coun­try.

“Our CEO must work tire­lessly to in­crease our prof­itabil­ity and en­sure that the bank re­turns in­creased per­for­mance in the com­ing years. This will trans­late to more div­i­dends for the share­hold­ers,” he stated.

Nwosu, who was happy with the 25 kobo de­clared as div­i­dend in the 2013 fi­nan­cial year end, called on the man­age­ment to do more for share­hold­ers at the end of the next fi­nan­cial year.

The share­hold­ers ap­proved the ap­point­ment of Mrs. Oluwa­toyin Sanni as the CEO of the com­pany with ef­fect from Jan­uary, 2014. They also ap­proved the div­i­dend pay­out of 25 kobo per share, amount­ing to N1.5bn.

In her re­marks, Sanni said that the bank would fo­cus on strate­gic and key ar­eas to im­prove upon its ac­tiv­i­ties in the com­ing years.

She said, “We are con­fi­dent of the abil­ity of the lead­er­ship of your com­pany to op­ti­mise mar­ket con­di­tions to deliver con­sis­tent re­sults in achiev­ing sus­tain­able growth in 2014 by lev­er­ag­ing on the strength of the man­age­ment team as well as our new prod­ucts, im­proved pro­cesses and sys­tems.”

She pointed out that 2013 fi­nan­cial year would not have been achieved with­out the ef­forts of the past CEO, Mr. Rasheed Olaoluwa, and other mem­bers of board.

The com­pany’ gross earn­ings in­creased by 241 per cent to N4.6bn in 2013 while its profit af­ter tax went up by 24.33 per cent to N1.763 in 2013.

Newspapers in English

Newspapers from Nigeria

© PressReader. All rights reserved.