The group managing director and CEO of United Bank for Africa (UBA) Plc, Kennedy Uzoka, said the bank was leveraging technology to increase the depth and understanding of customer preferences and changing needs in order to improve customer service offerings across all its service channels.
He disclosed this during an investor conference call, held recently on the bank’s 2016 half year results.
“We want to be in the best position to meet the customer on their utility curve, to ensure that we proactively offer forward looking products and services that will create unique customer experience as well as beat expectations,” Uzoka said.
He explained that UBA will not only be the first-to-market in new offerings but will also offer bespoke products to its esteemed customers and serve them in the most efficient manner.
Uzoka said that the bank was already reaping from its process transformation initiatives as it has led to reduction in customer service costs and also freed up human resources to be deployed to other segments of the bank’s business.
Speaking on the bank’s performance in the second quarter, he said that despite the volatilities experienced in the macro-economic environment, the bank delivered 18 per cent annualized return on average equity in the half year.
“This result further underscores our ability to consistently deliver superior return to our shareholders over the long term. We are taking proactive actions that will strengthen our competitive edge and effectively position UBA as the most preferred pan-African bank,” he said.
Uzoka explained that the bank grew non-interest income by 12 per cent to over N52 billion in the first six months of the year, deposits and loans by 16 per cent and 25 per cent respectively, reflecting the impact of naira depreciation and increasing penetration of our African business.