The outgoing Managing Director/ Chief Executive Officer, United Bank for Africa, UBA, Mr. Phillip Oduoza has emphasised that the existence of Pan African banks across the African continent will help drive financial inclusion and expand trade in the continent.
To this development, he called for increased collaboration among African central banks in order to drive intra-African trade on the continent. He also stated that UBA Plc’s Non-Performing Loan, NPL has gone down to 1.7 per cent, even as it diversified its earnings through its subsidiaries across the Africa continent.
Speaking at the 4th Valedictory Lecture, Titled “The Emergence of a Nigerian Pan-African Bank” organised by Chartered Institute of Bankers of Nigeria, CIBN in Lagos, Oduoza said
“The risk asset quality of UBA is one of the best in the industry, just as its asset base increased in excess of N1 trillion after consolidation between it and then Standard Trust Bank.” He also noted that “Intra-African trade growth will be further supported by the introduction of a visa-free travel policy across the continent by the African Union as well as the development of intra-regional transport infrastructure.”
Meanwhile, speaking before the commencement of the lecture by Oduoza, the President and Chairman of Council of the CIBN, Professor Segun Ajibola, explained that the valedictory lecture is organized to honour retiring bankers who have distinguished themselves to share their thoughts and experience with industry players and regulators.
He also emphasized that only bankers who have shown professionalism and integrity are honoured with a valedictory lecture by the institute.
