Union Bank Plc, Big, Strong, trusted and reliable is not a fluke as it has posted improved revenue before tax profits of N24,7billion for the 2019 financial year which ended December 31, 2019 doubled that of the N18.7billion it posted in 2018.
Its gross earnings also grew astronomically by 14 percent to N159.9billion from the N140 billion in 2018,
Union Bank’s customers deposits also increased tremendously by five percent to N886.3billion from the N884.4billion it recorded in 2018.
Speaking at the bank’s annual general meeting ( AGM) recently while reviewing the superlative performance of the bank, the Chief Executive Officer of the bank, Mr Emeka Enuwa stated that Union Bank improved performance recorded in the financial year ended December 31, 2019 is as a result of increased revenue productivity and efficiency achieved across all business segments in 2019, adding that the management of the bank continue to fervently emphasis on revenue productivity and efficiency across all facets of its business.
Enuwa stated : “We focused on further leveraging the plat form( People, technology, brand and infrastructure ) and we have steadily built over the years to drive sustainable growth in earnings and profitability and our efforts yielded positive results as we witness major feats across all our priority areas.
‘’We remain committed to delivering improved profitability and higher returns in 2020, insisting that returning value to share holders would continue to be the core of union bank’s transformation drive to becoming a leading financial institution in Nigeria and beyond.
Enuwa enumerated some of Union Bank’s key achievements in 2019 to include the launch of Apher, the bank’s proposition for women, digital loan offerings, the issuance of a fully subscribed Tier 2 30 billion bond and the boards recommendation of a dividend payments to its share holders following the bank’s superlative performance,
In her remarks, the bank’s board chairperson, Mrs Beatrice Hamza – Bassey told the elated share holders that Union Bank’s board members have recommended a dividend for the first time in over a decade for them, adding that Union Bank Plc will continue to deliver high earnings to its share holders