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| confirms 25% subsidiaries |
The Group Managing Director/ CEO, United Bank for Africa, Mr. Kennedy Uzoka, has said the banks African subsidiaries contributed 25 per cent of the group’s profit and account for over a quarter of its overall total deposit base, which is largely made up of low-cost savings and current account deposits.
Uzoka was quoted to have said during an investor conference call on the bank’s 2016 half year results, according to a statement released by UBA.
Uzoka noted that, overall, the African business (excluding Nigeria) contributed a quarter of profit in the period, with a stronger outlook.
