UBA Ghana records strong performance in Q3
The United Bank for Africa (UBA) Ghana Ltd has posted a strong financial performance for the third quarter, ending September this year, driven by steady balance sheet growth, strong deposit mobilisation and prudent risk management.
The bank’s unaudited results show that gross earnings rose to GH¢1.08 billion as of last month, up from GH¢987.2 million in the same period last year, a nearly 10 per cent increase.
Profit before tax also improved to GH¢430.7 million, reflecting a resilient business performance amid market pressures.
The UBA Ghana’s total assets also increased by 18 per cent, rising from GH¢9.58 billion in September last year to GH¢11.31 billion last month, underscoring the bank’s continued expansion and strong capital position.
Customer deposits also grew significantly by 16 per cent to GH¢8.19 billion, compared to the GH¢7.08 billion in the same period last year, reflecting customer confidence in the UBA Bank Ghana’s brand and services.
The results mean the bank remains financially sound and well-capitalised, boasting a Capital Adequacy Ratio (CAR) of 20.46 per cent, well above the regulatory minimum CAR set by the Bank of Ghana.
Customer satisfaction
Commenting on the results, the bank's Managing Director and Chief Executive Officer (MD/CEO), Uzoechina Molokwu, emphasised the bank’s commitment to customer satisfaction and inclusive growth.
“Our banking solutions continue to be the growth driver for UBA Ghana,” Mr Molokwu said.
“Through our customer-first philosophy and innovative solutions such as LEO, Africa’s first AI-powered virtual banker available on WhatsApp, Facebook and other social media platforms, we are democratising banking and making it more accessible to everyone,” he stated.
Mr Molokwu said that between January and September of this year alone, the bank signed on over 38,800 new customers, a testament to the trust and relevance of our brand.
He added that products such as NextGen, Kiddies, and Ruby Accounts continued to strengthen the bank’s youth, family, and female banking propositions, while digital channels, including the UBA Mobile App, Internet Banking, and the Pan-African Payment and Settlement System (PAPSS), enable seamless cross-border payments and business expansion across Africa.
Context
Mr Molokwu explained that UBA Ghana’s latest performance aligned with its parent company’s strategic goal of delivering superior value through digital innovation and service excellence.
The bank continues to prioritise its Customer First (C1st) philosophy, a culture built around consistently putting customers at the heart of all decisions and service delivery.
The UBA Ghana’s steady growth across all key indicators positions it as one of Ghana’s most resilient and customer-focused banks.
The UBA Ghana is a subsidiary of the pan-African financial services group, United Bank for Africa Plc, which operates in 20 African countries and major global financial centres.