In recognition of its immense contribution to the growth of Nigeria’s agricultural sector and value addition to the economy, United Bank for Africa (UBA) Plc has been named the best bank in support of Agriculture in the country.
UBA clinched the award at the maiden edition of BusinessDay Annual Banking Awards which held recently at the Eko Hotel in Lagos. The Bank beat three other banks that were nominated after a critical assessment by organisers of the awards.
According to statistics, UBA tops the Central Bank’s list of lenders to the agricultural sector. By 2012 financial year end, UBA had channeled seven per cent of its N687 billion loan book to agriculture. This is the highest exposure of any bank in Nigeria and invariably places the bank as one of the strongest supporters of agriculture in Nigeria. Divisional Head, Consumer Banking, UBA Plc, Mr. Ilesanmi Owoeye, received the award on behalf of the bank.
The BusinessDay Annual Banking Awards was instituted as a way of rewarding banks that are supporting economic growth in the country without putting the financial sector at risk. “It, thus serves as a positive incentive for banks to support the economy in a credible way while recognising and rewarding banks that have adopted best practice in delivering services to the Nigerian people,” the organisers said.
