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United Capital Uses Innovation And Digitization To Increase Its Competitiveness

by Akinruli Tolulope

To keep on top of trends and guarantee sustainable growth, United Capital Plc has guaranteed shareholders that the company will concentrate on innovation, digitalization, and business sustainability strategy, Entrepreneurng report.

Group Chief Executive Officer Peter Ashade stated at the company’s annual general meeting held yesterday in Abuja that these strategies would aid in establishing the organization as a globally renowned financial institution with the best team of professionals developing solutions and providing superior value to all stakeholders while fostering social development and promoting financial inclusion across the geopolitical zones we operate.

At the meeting, shareholders also approved the company’s N9 billion total dividend, which equates to N1.50 for every 50 kobo ordinary shares for the 2022 fiscal year.

The company has been publicly traded on the Nigerian Exchange for ten years, and Ashade said: “I am pleased to underline that it has been a decade of quality and advancement for both the organization and its shareholders. The expansion of United Capital Plc’s commercial operations is already in the works.

To promote financial inclusion by providing access to loans, investments, and capital raising options to a variety of market segments, the financial service company has got a microfinance banking license from the Central Bank of Nigeria (CBN).

Additionally, it has widened its reach internationally by establishing a strategic alliance with two top Swiss investment banks.

Before this, the company’s chairman, Prof. Chika Mordi, expressed confidence in the company’s capacity to provide shareholders with consistently outstanding returns and added that the company has put effective procedures in place to handle any unanticipated circumstances this year.

He said that the company’s Profit Before Tax (PBT) increased by 13% year over year to N13.50 billion, while total earnings increased by 49% to N26.90 billion. In addition, he added, the company’s overall assets increased by 33% to N601.92 billion.

“In addition to its exceptional financial performance, each subsidiary of United Capital Plc achieved significant milestones throughout the year. The largest bond issuance by a corporate entity on the Nigerian Debt Capital Market was a $1 billion bond issued by Dangote Industries Limited (DIL), for which the Investment Bank served as a joint issuing house.”

At the 2022 International Finance Awards, its Asset Management subsidiary took home the prize for the Fastest Growing Investment Management Company in Nigeria and is still ranked among the top three fund managers in Nigeria.

In conclusion, the Trustees company established its market leadership as the top Trustee business in Nigeria in terms of Funds under Management (FUM) and its Consumer Finance business disbursed over 130,000 loans amounting to N21 billion.

Source: The Guardian 

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