Group Managing Director and Chief Executive of the bank, Uzoma Dozie, said we will continue to develop innovate products to deepen our retail market share and optimize the rapidly expanding opportunities within the retail banking space. We will ensure that the bank has the right people, products and partnership to achieve optimum results in 2015, he added.
Category: Money Market
Our retail banking strategy continued to deliver impressive results as core retail liabilities increased by 7.7 per cent in Q1 2015, while E-banking income from increased cross-selling of products to the expanding retail customer base. We continued with our balance sheet optimisation which saw average yields on earning assets improve by 100 basis points and net interest margin inched up to 6.2 per cent during the quarter.
Speaking on the operations of its African businesses, Group Managing Director and Chief Executive of United bank of Africa; Phillips Oduoza expressed satisfaction over the performance despite the uncertainties that characterised the Nigerian economy during the first quarter of 2015.
In response to the statement, the bank’s Group Managing Director/Chief Executive, Phillips Oduoza, said Finacle 10x, is one of the latest generation of banking applications developed by Infosys, the world’s leading developer of banking applications, delivering a whole new set of offerings including enhanced treasury and advanced e-banking solutions with less stress
The managing director pointed out that the bank’s capitalisation improved significantly by 50.5 per cent during the year due to a combination of the impact of its highly successful rights issue as well as the capitalisation of profits for 2014.
The breakdown shows over 70% of VCASH agents are in Lagos, FCT, Rivers, Delta, Ogun and Oyo states. We have also seen significant activity in Edo, Bayelsa, Osun, Akwa Ibom, Kwara, Imo, Plateau, Cross River and Enugu states, it was added.