United Bank For Africa Plc · NSENG:UBA
United Bank For Africa — FY2024 Earnings Presentation
46 slides from United Bank For Africa's earnings presentation, Mar 27, 2025
Slide 1: United Bank for Africa FY 2024 Results Presentation
United Bank for Africa FY 2024 Results Presentation 27 March 2025 Africa’s Global Bank Page 1
Slide 2: Disclaimer
Disclaimer IMPORTANT: From time to time, United Bank for Africa Plc (“UBA” or the “Bank”) Any forward-looking statements contained in this presentation represent the views makes written and/or oral forward-looking statements. These are included in this of management only as of the date hereof and ar
Slide 3: Outline
Outline Section Page 1. About UBA Group 04 2. UBA’s Growth and Evolution Story 11 3. Global Operating Environment Overview 14 4. Sustainability & Governance 18 5. Financial Performance 21 6. Digital Business & Payment System 33 7. Outlook/Guidance 45 Africa’s Global Bank Page 3
Slide 4: About UBA Group
About UBA Group United Bank for Africa Plc (UBA) is a leading pan-African financial services group with presence in 20 African countries, as well as in the United States of America, the United Kingdom, France and United Arab Emirates. Enterprise Excellence Execution • Own the task • Be responsive an
Slide 5: About UBA Group
About UBA Group Products Market Channels Staff UBA is a financial UBA has over 45 million UBA has one of the As at December 31, institution, offering a customers in retail, largest distribution 2024, the Group had range of banking and commercial and networks in Africa. As at over 25,000 direct and p
Slide 6: UBA's Credentials
UBA’s Credentials Over 7 decades of strength, stability & stewardship Disciplined, customer-centric strategy Product leadership & innovation Proven expertise and capacity in key sectors Solution-focused technology & integrated operating platform Africa’s Global Bank Page 6
Slide 7: UBA's Credentials
UBA’s Credentials 45 Million+ 1,000+ 430,000+ 160,000+ Total Customers Branches and Touchpoints Active POS Machines Agents 20 4 21.2 Million+ 2,669+ African Operations Operations outside Africa Active No of Cards Issued ATMs 32.6 Million+ 5.8 Million+ 25,000+ Digital Banking Customers Leo Users Empl
Slide 8: UBA's African Footprint
UBA’s African Footprint Carefully thought-out Pan-African strategy, focused on promoting financial services across Africa… Nigeria Benin Cameroon Kenya • Established in 1949 • Established in 2009 • Established in 2008 • Established in 2009 • Serves as Headquarters • 16 branches • 21 branches • 5 bra
Slide 9: UBA's International Presence
UBA’s International Presence … and being a gateway between Africa and the rest of the World United States of America United Kingdom (UK) France United Arab Emirates (UAE) ▪ Facilitating payments by ▪ UBA UK acts as a bridge, ▪ Provide global relationship ▪ Operating as a branch of leveraging on our
Slide 10: UBA's International Presence
UBA’s International Presence … and being a gateway between Africa and the rest of the World United States of America United Kingdom (UK) France United Arab Emirates (UAE) ▪ Facilitating capital and ▪ The facilitation of multi- ▪ Provide lending and other ▪ Serve customers across the development flow
Slide 11: UBA's Growth and Evolution Story
UBA’s Growth and Evolution Story Africa’s Global Bank Page 11
Slide 12: UBA's History and Key Milestones
UBA’s History and Key Milestones ▪ UBA’s London business became a subsidiary (1984) ▪ Standard Trust bank commenced operations (1997) ▪ UBA becomes the first Nigerian bank to issue Global Depository Receipts (1998) 1949 - 1980 1981 - 2000 ▪ British & French Bank (BFB) commenced business in Nigeria w
Slide 13: UBA's History and Key Milestones
UBA’s History and Key Milestones “Our Heritage, Our Strength.” 2021 - Date ▪ UBA celebrated 70 years of banking operation in Africa. Named Africa’s Bank of the Year by The Banker magazine record ▪ Opened UBA Dubai-DIFC to facilitate international corporate relationships ▪ Expanded digital services,
Slide 14: Overview of Operating Environment
Overview of Operating Environment Africa’s Global Bank Page 14
Slide 15: Economic Environment and Trends
Economic Environment and Trends Global Sub-Saharan Africa Nigeria ✓ Global GDP growth was 3.2% for 2024 and is ✓ GDP grew by 3.8% in 2024 and is expected ✓ Resilient GDP: Nigeria's real GDP grew by projected to be 3.3% in 2025, still below the to expand further by 4.2% in 2025, as 3.84% year-on-year
Slide 16: Global GDP projected to grow by 3.2% in 2024 and 2025
Global GDP projected to grow by 3.2% in 2024 and 2025. Significant upside opportunity in our countries of operation Global Economy - Real GDP % GDP Growth rate in countries of operation Real GDP % $ 2023 2024 2025 (f) 4.2 3.8 3.6 10 3.3 3.2 3.3 International Countries 8 United States 2.9 2.8 2.7 1.9
Slide 17: Macroeconomic environment - Nigeria
Macroeconomic environment - Nigeria MPR vs Inflation Rate GDP Growth Rate Key Reforms Monetary Policy Rate Inflation Rate 3.84% ➢ Tax Reforms: tax reforms were 3.46% 3.46% introduced aimed at modernizing 40% 3.19% 2.98% and streamlining the fiscal 35% 2.51% 2.54% 2.54% framework, to promote economic
Slide 18: Sustainability & Governance
Sustainability & Governance Africa’s Global Bank Page 18
Slide 19: UBA's ESG Practices
UBA’s ESG Practices ESG remains a pivotal feature of the Group’s business, with results to show for it Governance Strategy • The Board has the ultimate responsibility for ESG • ESG is embedded in our vision to be the undisputed practices, with the oversight functions delegated to leading and dominan
Slide 20: UBA's ESG Practices
UBA’s ESG Practices ESG remains a pivotal feature of the Group’s business, with results to show for it >96k 55.3k tCO2e 507 47% SMEs supported Carbon Emission* Agency Banking Female Representation on the Board c.N897.62mn 96 44 c.N1.98bn Training and Human Nos. Sustainability Trainings Nos. Customer
Slide 21: Financial Performance
Financial Performance Africa’s Global Bank Page 21
Slide 22: Financial Highlights
Financial Highlights PAT up +26%, fueled by strong core earnings, robust asset quality and higher fee and commission income Income Statement (₦’billion) FY 2024 FY 2023 % Change • Gross earnings at ₦3.18tn, driven by strong core and sustainable Gross Earnings 3,187 2,075 53.6 business momentum. Net
Slide 23: Build up In PAT
PAT up +26%, fueled by strong core earnings, robust asset quality and higher fee and commission income Build up In PAT, (₦’bn) • The growth in PAT was driven by a combination of strong topline performance in both net interest income +823 +166 and non-interest income. -47 +13 • Net Interest Income ex
Slide 24: Key Metrics
Key Metrics Consistent and resilient net Income with a solid growth trajectory Gross Revenue, ₦’bn Net Interest Income, ₦’bn Non-Interest Income, ₦’bn 1,000 817 1,531 817 1,000 2,370 708 296 296 1,075 557 379 2022 2023 2024 2022 2023 2024 2022 2023 2024 Interest Income Non-Interest Income • Substant
Slide 25: Strong and diversified Income
Strong and diversified Income Interest Income (₦'bn) 2,370 ✓ Bank Placements - 6% 1,075 ✓ Loans and advances - 43% ✓ Investments Securities - 51% FY 2024 FY 2023 Non-Interest Income(₦'bn) 1,000 ✓ Fee and Commission income - 72% 817 ✓ Net Trading and Foreign Exchange gain - 22% ✓ Other Operating inco
Slide 26: Trading & Revaluation gains
Trading & Revaluation gains ….. Strong double-digit growth in trading Income as revaluation gain reverses Trading & Foreign Components of Trading & Foreign Exchange Gains Exchange Gains (₦'bn) -72.4% 659 ₦96.6bn ₦134.3bn *-₦49.1bn 52% 20% 110.2% 182 (₦63.3bn in FY 23) (₦112.1bn in FY 23) (₦483.8bn i
Slide 27: Fee and Transactional Income
Fee and Transactional Income Fees & Commission Contributions to Fees & Commission Income Income (₦'bn) 92% 589 ₦236.3bn ₦52.6bn ₦94.8bn ₦50.7bn ₦66.2bn ₦48.4bn ₦39.9bn 307 88% 27% 177% 67% 131% 53% 158% Electronic Commissions Credit- Account Trade Funds Remittance banking on related maintenanc trans
Slide 28: Asset Portfolio Analysis
Asset Portfolio Analysis Robust portfolio with diversified Asset & loan portfolio Asset Mix Loan Distribution ▪ Accounts for the largest proportion (41%) Sector/Industry FY 2024 FY 2023 of Total Assets Oil & Gas 17.32% 19.50% Investment ▪ Recorded 69% YTD growth from ₦7.4trn in Dec Securities Genera
Slide 29: Solid Balance Sheet Growth
Solid Balance Sheet Growth … underpinned by a robust risk management practices Group Total Assets (₦’mn) +47% Loan Book (₦’mn) +90% +35% +61% 30,323,355 7,510,617 20,653,197 5,549,581 10,857,571 3,440,128 FY'22 FY'23 FY'24 FY'22 FY'23 FY'24 Deposits (₦’mn) +42% Shareholders’ Funds (₦’mn) +68% +93% 2
Slide 30: Low-Cost Funding Base
Low-Cost Funding Base • Customer deposits continue to dominate the Bank’s funding mix (81%), which demonstrates combined efforts at deepening our wallet share of the Corporate, Commercial, and Retail business. • Low-cost deposit instrumental to achieving a modest cost of funds. Equity Other Liabilit
Slide 31: Robust Growth in Deposit
Robust Growth in Deposit Total Deposits (₦’bn) Customer Deposit Mix (%) – FY 2024 11% 23% 24,651 17,356 66% 8,995 2022 2023 2024 Demand Savings Term ➢ Strong deposit growth due to disciplined funding strategy and strength of franchise. Deposits increased by 42% to ₦24,651 in 2024 from ₦17,356 in 202
Slide 32: Rest of Africa Operations
Rest of Africa Operations The other African Markets have recorded impressive growth… Operating Revenue Growth by Region (₦’bn) Regional Revenue Contribution (%) 112% FY 2024 FY 2023 FY'24 FY'23 852 7% 110% 8% 486 34% 402 86% 48% 59% 231 44% 169 91 West Africa East & Southern Africa Central Africa Ni
Slide 33: Digital and Payment Business
Digital and Payment Business Africa’s Global Bank Page 33
Slide 34: Quantum leap in digital banking volumes and revenue
Quantum leap in digital banking volumes and revenue The Bank boasts of a robust and growing digital business, with a plethora of e-banking channels 91.9% • Our investments in state-of-the-art technology 65.8% continue to yield expected results, evident in the 253.0 huge boost of our digital banking
Slide 35: UBA's Digital Business
UBA’s Digital Business The Bank boasts of a robust and growing digital business, with a plethora of e-banking channels UBA Leo UBA Mobile App ▪ Send money, buy airtime, check ▪ Provides control, support and account balance, pay bills and a lot flexibility, offering banking and more with ease and con
Slide 36: UBA's Digital Business
UBA’s Digital Business The Bank boasts of a robust and growing digital business, with a plethora of e-banking channels NQR – Scan & Pay USSD - *919# ▪ Enable customers to receive instant payment notifications, enjoy faster ▪ Customers can open a UBA account, transactions with lower fees, initiate tr
Slide 37: UBA's Digital Business
UBA’s Digital Business The Bank boasts of a robust and growing digital business, with a plethora of e-banking channels UBA Cards Debit Cards ▪ Can be used to purchase items in ▪ Provide easy, secure 24/7 access to stores, on the Internet and collect cash, with withdrawals from any ATM, cash from ATM
Slide 38: UBA's Digital Business
UBA’s Digital Business The Bank boasts of a robust and growing digital business, with a plethora of e-banking channels UBA Cardless Withdrawal Services Contactless Payment ▪ The Cardless Withdrawal Service ▪ Allows merchants and customers to enables customers to carry out accept payments with the Sc
Slide 39: Digital Channels Performance
Digital Channels Performance … …Increased penetration and adoption Channel FY 2023 FY 2024 % Growth Subscription (mn) 4.8 5.8 21% Leo Count (mn) 15 19 27% Value (₦’bn) 179 281 57% Subscription (mn) 7 8 15% Mobile Banking Count (mn) 680 747 10% Value (₦’bn) 26,750 44,204 65% Subscription (mn) 6 7 17%
Slide 40: Supporting Pan-African Payment System
Supporting Pan-African Payment System UBA-PAPSS Partnership About PAPSS 1 UBA stands among the pioneer African banks to integrate with this financial infrastructure • PAPSS serves as a cross-border financial infrastructure facilitating transactions throughout Africa • This platform enhances intra-Af
Slide 41: Stock Performance
Stock Performance Africa’s Global Bank Page 41
Slide 42: Share Price Trend
Share Price Trend …. UBA now outperforming the Banking Sector Index. Stock Exchange Ticker Share Information 52 Weeks Performance Listed Nigerian Stock Exchange (NGX) UBA Shares Outstanding 34,199,421,368 High NGN 36.00 Low NGN 19.20 2019 2020 2021 2022 2023 2024 Market Capitalization (₦'billion) 24
Slide 43: UBA Plc Credit Ratings by recognized Rating Agencies
UBA Plc Credit Ratings by recognized Rating Agencies National National National National • Short-term: ngA-2 • Short-term: A1+(NG) • Short-term: F1+(nga) • Short-term: Aa- • Long-term: ngBBB+ • Long-term: AA+(NG) • Long-term: A+(nga) International International International • Long-term: B Short –te
Slide 44: Outlook / Guidance
Outlook / Guidance Africa’s Global Bank Page 44
Slide 45: FY2025 Guidance
FY2025 Guidance FY 2024 FY 2025 FY 2024 Achieved Revised Guidance Guidance Deposit Growth 45% 42.0% 45% Loan Growth 40% 35.3% 40% Cost of Risk 2.8% 3.18% 2.8% Non-Performing Loan Ratio 6.5% 5.6% 6.5% Return on Average Equity 28% 28.14% 25% Return on Average Assets 2.8% 3.01% 2.4% Capital Adequacy Ra
Slide 46: Thank You
Thank You Africa’s Global Bank Page 46
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