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United bank of Africa changes banking landscape with digital products strategy

By Edwin Muhumuza

United Bank for Africa–Uganda has reiterated support for Ugandan entrepreneurs to ensure growth and development . According to Emeke E. Iweriebor, the Executive Director /CEO East and Southern Africa, In the last 5 years, UBA has supported infrastructure and development projects in East and Southern Africa worth over 500 million USD.

With a presence in 20 African countries it has been at the forefront of funding massive projects in Infrastructure, healthcare, education, oil and gas and agriculture. This were remarks made during a press meeting organized by the bank to discuss its strategic plans for the second half of 2018.

Meantime,Acting CEO, Johnson Agoreyo expressed optimism in the performance of the financial services institution this year. He has revealed that so far the bank has doubled the yearly revenue of 2017 in this 2nd quarter of 2018 alone. This is attributed to excellent performance in its treasury, credit and transactional income.

Relatedly, Ugandan clients of UBA will have to wait until the end of August  as the bank integrates  agency banking in its operations. This as Chief customer service executive, Agoreyo reacted  to how far they have gone to adopt  the shared agency banking platform, a  low cost model  meant to ensure financial inclusion by reducing access barriers to financial services . Currently UBA  is recruiting agents.

Digital Banking

United Bank of Africa has pioneered and is leading in digital driven banking solutions with the introduction of the first Chat banking Assistant-Leo. The platform enables the client to access all services in the banking hall, on their mobile phone including, account opening, funds transfers and airtime purchase.LEO,has been recognized by Facebook, CEO, Mark Zuckerberg as ‘’doing incredible things’’ during the just concluded Facebook Developer conference F8,in California, US.

Currently, the bank is implementing an e-voucher payment system project with the Ministry of Agriculture, Animal Industry and fisheries to facilitate funding of over 4500 customers and will soon launch an advanced mobile banking solution available on a mobile application with a goal of widening service offering and responding to ever-changing customers needs.

With operations in 20 countries and 3 global financial centres; London, Paris and New York plus a growing network of 11 branches in Uganda alone,United Bank of Africa has established itself as a Ugandan giant in Financial services provision.

Strategy

The Bank aims to increase growth in deposits, generate quality risk assets while ensuring sustainable profit ,an NPL ratio of 3% and ensuring top digital banking.

 

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