Tuesday, June 18, 2013

UBA Emerges Best Bank in Agriculture Support

11:33 AM

United Bank for Africa Plc has been named the best bank in support of agriculture in the country in recognition of its immense contribution to the growth of Nigeria‘s agricultural sector and value addition to the economy.

A statement by the bank on Friday said it clinched the award at the maiden edition of BusinessDay Annual Banking Awards, which held recently in Lagos. It said UBA beat three other banks that were nominated after a critical assessment by organisers of the awards.

The statement said, “According to statistics, UBA tops the Central Bank’s list of lenders to the agricultural sector.  By the 2012 financial year end, UBA had channeled seven per cent of its N687bn loan book to agriculture.

“This is the highest exposure of any bank in Nigeria and invariably places the bank as one of the strongest supporters of agriculture in Nigeria.”

According to the organisers of the awards, the BusinessDay Annual Banking Awards was instituted as a way of rewarding banks that are supporting  economic growth in the country without putting the financial sector at risk.

“It serves as a positive incentive for banks to support the economy in a credible way, while recognising and rewarding banks that have adopted best practice in delivering services to the Nigerian people,” the organisers said.

With operations in 19 African countries and presence in New York, London and Paris, UBA provides banking services to over seven million customers through expansive retail distribution outlets.

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