Sustainable Banking

Our vision is to be the undisputed leading and dominant financial services institution in Africa.

Our Approach

At UBA we are convinced beyond doubt that integrating sustainable practices in our business is the right thing to do. It makes sense both as a business decision and from a corporate social responsibility perspective.

Chairman’s Statement:

Tony-Elumelu

“It is my honour to present the maiden standalone sustainability report of our Bank, the United Bank for Africa plc. This is a further reiteration of your Bank’s commitment to leaving an enduring legacy for the future.
When we say we are committed to building an enduring institution, sustainability is at the heart of that commitment.
This statement underlines our sustainability strategy. Our idea of sustainability is underpinned by the position we occupy in the
banking space in Africa. It is imminently heart warming to know that we are the only sub-Saharan African bank regulated by both the office of the Comptroller of Currency in the United States and the Prudential Regulations Authority in the United Kingdom. This is a rare milestone that reinforces our brand as Africa’s Global Bank and at the same time places demands on us to consistently push the frontiers of sustainable banking in Africa. Because we believe that charity begins at home, that is why we initiated several actions to reduce our environmental footprints.
One of such initiatives is the reduction of energy and water consumption at the corporate head office by installing motion sensor light bulbs and sensor controlled faucets across the building.
In 2019, we championed a paperless policy drive to curtail our environmental footprint. This is a significant milestone where we have seen paper usage cut down by about 85 percent, just within first three months of implementing this initiative. Our target is to achieve 100 percent paper usage reduction by the end of 2020.
In the coming years, we plan to strengthen our local and international partnerships to drive our delivery of the sustainable development goals (SDGs). In addition to existing partnerships
with the Central Bank of Nigeria(CBN), UNEP and a host of others, we plan to formalize our membership of the Equator Principles Association(EPA) and get listed on the EPA’s website. We believe this will reaffirm our commitment to ensuring that our project finance and related activities are done in line with the Equator Principles. Also, it is to further reinforce our commitment to delivering sustainable value to our shareholders in a manner that preserves current and future population and the planet. “

GMD’s Statement:

Kenndy-Uzoka

“The vision for our Bank is to be the undisputed leading and dominant financial services institution in Africa. This mandate that we have set for ourselves requires that we aspire at all times to conduct ourselves in an ethical and responsible manner. To embrace this enormous task fearlessly, we found it worthy to establish the UBA Foundation which continues to serve as the vehicle with which we have been able to drive the group’s Corporate Social Responsibility(CSR) initiatives spanning Education, Economic Empowerment and Environment. As Africa’s global bank, we are committed to being a socially responsible company and a role model for all businesses in Africa. It is for this reason that we are keen on integrating sustainability into our day-to-day business activities. To this end, we have developed an Environmental and Social Management System (ESMS) and intend to ferociously pursue its implementation.
The intention is to build a management system made up of well trained, committed people routinely following procedures and continually improving, in line with our shared values of Enterprise, Excellence and Execution. We believe that sustainability is the foundation of our long-term growth and profitability. Not only is it an integral part of our
overall business strategy, it is also the right thing to do. It is the right thing for our customers, our suppliers, our shareholders; our communities and for our staff as core members of the Bank.
Sustainability has been embedded into the overall objective of our Bank’s Transformation agenda. The goal is simply to be the number 1 in CBN’s sustainability ranking by the end of 2020. We intend to achieve this goal by riding on the back of technology to seamlessly implement our action plans. We shall focus on automating the Bank’s environmental and social impact screening and assessment system. Our Nigerian Sustainable Banking Practices (NSBP) reporting platform will also be automated to allow for easy collation and retrieval of data. This is the year we shall build strong partnerships and
prioritize sustainability awareness across the enterprise. Senior management is excited about this journey and we shall demonstrate this indeed and by setting the right tone from the top. We shall lead from the top as Sustainability Champions. “

Shared value:

Enterprise:
Own The Task
Go The Extra Mile, Solve Problems
Show Initiative
Break Barriers
Be Innovative

Excellence:
Be Responsive and Passionate
Surpass Customer’s Expectations Always
Maintain Quality Standards
Be Meticulous-Make It Simple Always
Be Professional- Integrity, Friendly and
Genuine

Execution:
Get It Done
Get It Done Now
Get It Done Very Well
…Always Have the End in Mind

Vision
To be the undisputed leading and dominant financial services institution in Africa.
Mission Statement
To be a role model for African businesses by creating superior value for all our stakeholders, abiding by the utmost professional and ethical standards, and by building an enduring institution.

Materiality Process

The materiality concept is the guiding principle for understanding the Bank’s stakeholders’ needs. At UBA we have established an engagement process for collecting, organizing and analysing the issues that are most pressing for our stakeholders. Through the filtering process we are able to identify, collate and analyse concerns that are most critical to our stakeholders. Essentially, the engagement process is a fundamental part of how we understand the most pressing issues to stakeholders and appreciate the intercessions between these issues and the bank’s operations.
processes

About UBA

Organisational Information

United Bank for Africa (UBA) Plc is one of the leading financial services institutions in Africa. UBA provides banking and diverse financial services to more than 14 million customers through its channels strategically located in 20 African countries, United States of America, United Kingdom and France.

Legal Structure

United Bank for Africa (UBA) Plc is one of the leading financial services institutions in Africa. UBA provides banking and diverse financial services to more than 14 million customers through its channels strategically located in 20 African countries, United States of America, United Kingdom and France.

Business Model

Corporate Banking

Retail/Commercial banking

Treasury and Financial Markets

Corporate Governance Review

United Bank for Africa Plc holds good governance as one of its core values and remains committed to the implementation of effective corporate governance principles in its business operations. The Board of Directors endorse the principles of best practice as stated in the ‘Code of Corporate Governance for Banks in Nigeria Post Consolidation’ issued by the Central Bank of Nigeria and the Securities and Exchange Commission’s ‘Code of Corporate Governance’. The bank also complies with the requirements of its Governance Charters

Our Sustainability Statement

For us sustainable banking should not be about throwing around monikers or bellowing “sustainability” without real intention to live by the true spirit of creating a world that meets today’s needs but remains sufficient to meet tomorrow’s demands. This is why we have put in place policies to guide and measure how we intend to manage our environmental and social footprint, deal with issues of financial inclusiveness, human rights; community safety and security.

UBA’s Approach to Sustainability​

At UBA we are convinced beyond doubt that integrating sustainable practices in our business is the right thing to do. It makes sense both as a business decision and from a corporate social responsibility perspective. It is based on this that we adopt a three pronged strategic approach to sustainability with a view to becoming a responsible partner for sustainable economic and social development of our customers, stakeholders and shareholders. This object draws from our sustainability vision which is;

“To be the undisputed Sustainable financial institution in Africa, by supporting the Execution of environmentally and socially responsible endeavours, that promote Excellence”.

Stakeholder Engagement

  • Employee
  • Customer
  • Shareholders
  • Suppliers
  • Communities
  • Regulators

1. Employee

The key concerns expressed by our employees during our engagement with them were: Frequency of Promotion and Work-Life-Integration.

UBA’s Commitment:
  • Day-to-day engagement and feedback
  • Quest for excellence sessions
  • Various trainings and capacity building sessions
    • GMD’s visioning meetings
    • Employee satisfaction surveys
    • CEO’s Awards
    • Regular electronic newsletters
    • Workplace gender diversity and equal opportunities activities
    • Work-life balance remained a critical issue to our employees.
  • The Bank ensures that all staff participate in the annual wellness check in collaboration with our Health Management Organisation (HMO). In addition, we organise quarterly fitness sessions (tagged; “Jogging to Bond”) for all members of staff across the Group in different locations and we collaborate with the HMO in sensitising and educating staff on health issues, with attention to preventive medicine and natural therapies.
  • The Bank has fully equipped gymnasiums in 3 locations (Lagos, Abuja, and Port-Harcourt) in Nigeria and pay for club memberships that give staff access to fitness facilities in other locations.
  • Employees had a range of capacity building opportunities during the reporting year. These include formal trainings, talent mentoring, continuous performance reviews and feedback, skill-gap assessments and access to open source learning portal.
  • Knowledge sharing sessions such as the Group Chairman Learning Session, involving leadership of subsidiaries (including Board representatives from the respective subsidiaries) and vertical heads across the Group. In addition, Group periodically sponsors many staff to different Ivy League Business Schools, and attendees are expected to run courses for middle management staff on their return.
  • Employees are encouraged to participate in industry competition and advocacy programmes.
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2. Customer

Key concerns: Limited access to lending and project financing.

UBA's Commitment:
  • We ensure strict compliance to regulatory requirement on lending and project financing, including the integration of the Group’s policy on ESG in credit appraisals and overall lending decision.
  • We ensure strict business ethics and professionalism in our service delivery
  • State-of-art technology to deliver superior customer service experience and respond to changing needs of our customers
  • Customer surveys, marketing visits and calls
  • Transitioned the Customer Fulfilment Centre (CFC) into an end-to-end resolution channel for all complaints.
  • Dedicated offerings for SMEs and structural support for businesses.
  • Loan products for the retail customers and enhancement of channels for exceptional service experience.
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3. Shareholders

Increased wealth creation

UBA's Commitment:
  • Provision of timely information to all shareholders; annual reports and accounts, quarterly results and presentations, investor roadshows, press releases, media chats and public engagements (see https:// www.ubagroup.com/ir).
  • Shareholders’ association meetings.
  • In ensuring strict adherence to the Group’s governance principles, the Board is evaluated annually by a reputable global firm of consultants. 
  • In line with the transparency practice of the Group, the independent review of corporate governance is presented to shareholders at the Bank’s Annual General Meeting (AGM).
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4. Supplies

Key concerns are sustainability of the transparent and fair assessment or selection process of vendors, pricing and payment terms.

UBA's Commitment:
  • The Bank recently enhanced the Vendor Selection and Assurance team and improved the procurement process, including accreditation and review of vendors and contractors to ensure that the most qualified vendors are duly registered and shortlisted for relevant projects.
  • More so, the process is centralised but with maker-checker controls against moral hazard and adverse selection of vendors. The selection is overseen by a Group Cost Optimisation Committee made up of Senior Management staff across relevant divisions. This ensures that adequate due diligence is carried out before, during and after the selection of vendors and award of contracts or procurements.
  • Periodic price checks and vendor reviews are conducted, in addition to vendor rating by relevant divisions in the Bank, through an anonymous survey conducted periodically and independently analysed for MIS purposes.
  • The payment process is now fully automated, through the enhancement of the Enterprise Risk Management System.
  • Periodic impromptu visits to vendors’ sites and offices to ensure adherence to relevant environmental and social covenants agreed with the Bank and engagement on the need for quality assurance always.
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5. Communities

Key concerns include environment and social footprint, contributions to the development of the youth, particularly less privileged persons.

UBA's Commitment:
  • UBA is committed to charitable donations and sponsorships of impactful projects, especially youth-oriented initiatives that align with our empowerment philosophy.
  • We engage in various community development initiatives either directly through UBA Foundation, our special purpose vehicle for Corporate Social Responsibility, or in partnership with credible non-governmental organisations and public institutions. Below are some of the charitable donations by the bank in past; 
  • Construction of laboratory for a school
  • Donation towards the construction of Faculty of Engineering at a University 
  • Donation of 10 Hilux trucks for security purposes
  • Donation to Medicaid Foundation 
  • Awards to winners of National Essay Competition
  • Monetary aid to flood victims in one of the states in Nigeria
  • Sponsorship of CIBN Graduate Ceremony
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6. Regulators

Disclosure of Environmental and Social performance through reporting progress on the implementation of the Nigerian Sustainable Banking Principles (NSBP).

UBA’S Commitment:
  • Continuous consultations with relevant regulatory authorities and public institutions on the progress made in the advocacy and adherence to environmental and social principles. 
  • Periodic onsite meetings and supervisory visits by representatives of regulatory bodies.
  • Improved disclosure of Environmental and Social performance through reporting progress on the implementation of the Nigerian Sustainable Banking Principles (NSBP).
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Progress on SDGs

UBA and Anti-Corruption

The Bank’s Anti-Bribery and Corruption Policy provides guidance in respect of UBA’s corporate conduct, which requires that all employees act professionally, fairly and with integrity. This extends to our business partners, vendors, suppliers and other stakeholders. The Bank also carries out annual assessment on anti-bribery and corruption. The objective is to communicate the need to maintain good professional ethics.

Nigerian Sustainable Banking Principles

We adhere strongly to the sustainable banking guidelines prescribed by the Nigerian Sustainable Banking Principles approved by the Bankers Committee in July 2012 for adoption by all banks, discount houses (DHs) and development finance institutions (DFIs). Since the adoption we have rendered bi-annual reports on our activities across all the principles as advised by the Central Bank of Nigeria.
United-Bank-For-Africa-Investor-FAQs

Equator Principles

It is standard practice for us as a bank to incorporate the assessment approaches highlighted in the Equator Principles in our project finance activities. The Equator Principles(EPs) is a risk management framework, adopted by financial institutions for determining, assessing and managing environmental and social risk in projects.

UBA Employees

We adhere strongly to the sustainable banking guidelines prescribed by the Nigerian Sustainable Banking Principles approved by the Bankers Committee in July 2012 for adoption by all banks, discount houses (DHs) and development finance institutions (DFIs).

Our Customers

We adhere strongly to the sustainable banking guidelines prescribed by the Nigerian Sustainable Banking Principles approved by the Bankers Committee in July 2012 for adoption by all banks, discount houses (DHs) and development finance institutions (DFIs).

Our Achievements

With Mulitiple awards over the years, UBA continues to distinguish itself in the financial service industry across Africa

Contact us

Chidozie Uriel Ezike

Team Lead, ESRM/Sustainability
Phone: 07032513025
Email: Chidozie.ezike@ubagroup.com

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