UBA Deputy Managing Director Increases Stake in United Bank for Africa

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Oliver Alawuba, a Deputy Managing Director of United Bank for Africa (UBA) Plc, has acquired 986,000 shares (N7.25 per share) of the Bank in accordance with the Nigerian Exchange policy on insider dealing.

This was issued in a statement signed by the Company Secretary, Temitayo Adegoke released through the Nigerian Exchange. According to the lender, the transaction took place on the Nigerian Exchange Limited, June 24, 2020. Aggregate share purchased is worth NGN 7,148,500.00.

UBA Deputy Managing Director Increases Stake in United Bank for Africa BRANDSPURNG

Mr. Oliver Alawuba has over twenty years of work experience in the banking industry and academia. Oliver was at various times an Executive Director at Finbank Nigeria Plc (now FCMB Plc), MD/CEO of UBA Ghana Ltd, MD/CEO of UBA West Africa, Directorate Head, Public Sector and Personal Banking and Regional CEO, UBA Africa – Anglophone.

Oliver has B.Sc and M.Sc degrees in Food Science and Technology and MBA in Banking and Finance. He is an alumnus of the AMP and SEP programmes of the prestigious Insead Business School, France, and London Business School respectively. He is also a Fellow of the Nigerian Institute of Management and an Honorary Senior Member of the Chartered Institute of Bankers of Nigeria.

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From the released result (Q1’ 2021 Unaudited Financial Statements), the Gross Earnings and the Profit Before Tax (PBT) grew by 7.56% and 24% to ₦155.45 billion and ₦40.58 billion respectively in Q1’2021 when compared with ₦144.52 billion and ₦32.73 billion in corresponding Q1’ 2020.

The growth in the Gross Earnings was driven by 10% increase in non-interest income to ₦46.86 billion in Q1’ 2021 from ₦38.06 billion and 2.01% marginal increase in interest income to ₦108.59 billion in Q1’ 2021 from ₦106.46 billion in Q1’ 2020.

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