United Bank for Africa (UBA) Ghana Limited has demonstrated robust financial and operational performance for the 2024 financial year, showcasing its resilience, innovation, and commitment to sustainable growth.

The bank made this announcement at its 2024 Annual General Meeting (AGM) held at the Mövenpick Ambassador Hotel in Accra, where shareholders applauded the solid strides made despite a challenging economic landscape.

UBA Ghana recorded a Profit Before Tax (PBT) of GH¢253.58 million, driven by increased customer activity, improved asset quality, and enhanced operational efficiency.

Deposits grew by 15% to GH¢7.3 billion, up from GH¢6.3 billion in 2023, reflecting effective deposit mobilisation efforts and deepened customer engagement.

The bank also posted a 25% growth in total assets, signalling the strength and sustainability of its balance sheet.

Significantly, the bank achieved a dramatic improvement in asset quality, reducing its Non-Performing Loans (NPL) ratio from 24.7% to 12.5%, following aggressive loan recovery and strengthened risk management practices.

“This performance reflects the strength of our governance, the quality of our leadership, and the trust our customers place in us,” said Kweku Awotwi, Board Chairman of UBA Ghana, addressing shareholders at the AGM.

“We remain steadfast in our goal to build a future-ready bank that contributes meaningfully to Ghana’s economic development.”

UBA Ghana’s 2024 success was underpinned by a strategic focus on digital transformation, sustainable financial growth, and customer-centric service.

The bank recorded strong growth in fees and commissions and plans to further leverage this revenue stream in 2025 as part of its long-term growth strategy.

“Our transformation journey is far from over,” said Uzoechina Molokwu, Managing Director and Chief Executive Officer of UBA Ghana.

“We will continue to innovate, deepen financial inclusion, and invest in technologies that help us serve our customers better while responding swiftly to regulatory changes and market dynamics.”

Amid the broader industry shifts—rising regulatory expectations, evolving consumer behaviours, and technological disruption—UBA Ghana is reinforcing its market position through proactive customer engagement, increased regulator collaboration, and a future-focused investment strategy.

To mitigate risks like exchange rate volatility and sluggish private sector growth, the bank has adopted a multifaceted approach.

Key actions include building FX liquidity buffers, partnering with exporters and remittance channels, and aligning its lending strategy with market trends.

The bank is also engaging with Development Finance Institutions (DFIs) and exploring Public-Private Partnerships (PPPs) to co-finance transformational projects.

As part of its expansion agenda, UBA Ghana announced plans to establish a presence in all sixteen regions of Ghana, with new branches slated for Techiman, Koforidua, and Cape Coast in the coming years.

At the AGM, shareholders also applauded the bank’s intensified Environmental, Social, and Governance (ESG) efforts.

In 2024, UBA launched a green finance initiative, established a dedicated Women’s Desk, and introduced braille-enabled banking documents to support visually impaired customers, demonstrating its drive toward inclusive, responsible banking.

“We’re building more than a bank—we’re building a platform for empowerment, growth, and long-term value creation,” Mr. Molokwu concluded.

“Whether through innovation, inclusion, or investment in people, our commitment is unwavering.”

UBA Ghana’s strong 2024 performance and forward-looking strategy reaffirm its role as a key enabler of inclusive financial growth and a partner in Ghana’s development story.