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Union Bank records steady growth with favourable 1Q results - Adaderana Biz English

Union Bank records steady growth with favourable 1Q results
April, 30, 2021
Core Banking Growth and Profitability
Union Bank ended the first three months of 2021 with a strong performance, reflecting a steady growth momentum and fueling favourable expectations.
Union Bank’s core banking performance was propelled by focused efforts on strategically significant product and service propositions. Despite challenges that continued to prevail during the review period, the Bank’s re-strategised product and service prioritisation and swift action to capitalise on the positive sentiments in the macro-economic dynamics since the roll-out of the vaccination campaign, paved the way for this growth in the first quarter of 2021. ....

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Highest paid Nigerian bank MD/CEOs of 2020

The banking sector, especially commercial banks, is one of the most profitable sectors of the Nigerian Economy churning out profits of close to a trillion in 2020 alone. They are also one of the highest employers of labours in the country employing over 93,000 Nigerians.
Sitting at the helm of affairs is the Chief Executive/Managing Director, the highest-ranking executive in the organization saddled with the responsibility of making the best corporate decisions, oversight of the execution of the organisation’s corporate strategies and most importantly increasing the shareholders’ return. The buck basically stops on their table.
Thus, these enormous responsibilities also come with a considerable executive compensation for their service making them ostensibly the highest-ranking staff of the bank. ....

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FCMB boosts agribusiness with N74.10bn Loans

…represents 10 percent of total loan portfolio
First City Monument Bank (FCMB) has grown its loan portfolio to the agriculture sector in Nigeria to N74.10 billion, representing 10 percent of the Bank’s total loans. This figure is one of the highest in the banking industry. The feat, which was achieved in December 2020, is a signal that the deliberate strategy and sustained support of the lender to agribusiness are yielding the desired results and that the Bank’s deployment approach has been widely appreciated. It also represents another milestone and bold step by the Bank to further expand and deepen its support to agribusiness, its value-chain and the overall growth of the Nigerian economy. ....

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Union Bank's CEO, Emuwa retires as Okonkwo takes over

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Union Bank’s CEO, Emuwa retires as Okonkwo takes over
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Union Bank of Nigeria
THE Board of Union Bank Nigeria Plc has announced that its Chief Executive Officer, Emeka Emuwa, has communicated his decision to retire from the Bank on March 31, 2021.
To this effect, the Board has also announced Emeka Okonkwo as his successor.
Emuwa joined Union Bank in November 2012, following a $500 million investment by Union Global Partners; with a mandate to transform restore one of Nigeria’s oldest institutions back to its rightful position as a respected provider of financial services.
According to a statement from the bank, “With his imminent departure, the Board has appointed Emeka Okonkwo, an Executive Director currently leading the Bank‘s Corporate Banking business, to succeed him. The appointment is subject to the approval of the Central Bank of Nigeria.” ....

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Union Bank CEO Emeka Emuwa Retire After 8 Years as Board appoints new ceo

Board Appoints Executive Director, Emeka Okonkwo, as Successor
LAGOS, NIGERIA – The Board of Union Bank Nigeria Plc announces today that, after eight years leading the Bank, its Chief Executive Officer, Emeka Emuwa, has communicated his decision to retire from the Bank and his role as CEO on March 31, 2021.
Emeka Emuwa joined Union Bank in November 2012, following a $500 million investment by Union Global Partners, with a mandate to transform and restore one of Nigeria’s oldest institutions back to its rightful position as a respected provider of financial services.
With his imminent departure, the Board has appointed Emeka Okonkwo, an Executive Director currently leading the Bank‘s Corporate Banking business, to succeed him. The appointment is subject to the approval of the Central Bank of Nigeria. ....

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