United Capital leverages innovation, digitalisation for competitiveness
United Capital Plc has assured shareholders that the company would focus on innovation, digitalisation and business sustainability strategy to stay ahead of trends and ensure sustainable growth.
At the company’s yearly general meeting held in Abuja yesterday, the Group Chief Executive Officer, Peter Ashade said these strategies would help position the organisation as a globally reputable financial institution with the best team of professionals creating solutions and delivering superior value to all stakeholders while fostering social development and promoting financial inclusion across the geo-political zones that we operate.
Besides, shareholders at the meeting approved the firm’s total dividend of N9 billion culminating to N1.50 for every 50 kobo ordinary share for the 2022 financial year.
Ashade said: “This year marks our 10th year as a publicly quoted company on the Nigerian Exchange and I am delighted to affirm that it has been a decade of excellence and progress for both the organisation and its shareholders. United Capital Plc has already put plans in motion to expand its commercial operations.
“The financial service company recently received a microfinance banking license from the Central Bank of Nigeria (CBN) in an effort to foster financial inclusion by offering diverse market segments access to loans, investments and capital raising solutions. It has also expanded its footprints globally, securing a strategic partnership with two leading Swiss investment banks.”
Earlier, the chairman of the company, Prof. Chika Mordi expressed optimism on the firm’s ability to deliver consistent superior returns to shareholders, adding that the company has put appropriate strategies in place to surmount any unforeseen circumstance this year.
He explained that the company achieved a 13 per cent year-on-year increase in Profit Before Tax (PBT) to N13.50 billion, with a 49 per cent rise in gross earnings to N26.90 billion.
Furthermore, he also stated that the company’s total assets also rose by 33 per cent to N601.92 billion.
“In addition to its outstanding financial performance, United Capital Plc subsidiaries individually recorded significant milestones during the year. The Investment Bank acted as Joint Issuing House to Dangote Industries Limited (DIL) $1 billion bond issuance, the largest bond issuance in the Nigerian Debt Capital Market by a corporate entity.
“Its Asset Management subsidiary won the award for the Fastest Growing Investment Management Company in Nigeria at the 2022 International Finance Awards and remains among the top three fund managers in Nigeria
“The Trustees business cemented its industry leadership as the number one Trustee business in Nigeria in terms of Funds under Management (FUM) and its Consumer Finance business disbursed over 130,000 loans totalling N21 billion,” he added.