The bank recorded a 46% increment in deposits, crossing the GHS4billion mark when the industry average was about 16.7%. The impressive deposit is an expression of satisfaction with the bank’s service by customers

With strong growth in the deposit base, the Bank is properly positioned to increase its loans and advances to customers and increase the wallet share in loans granted to customers.

Profit

UBA Ghana posted a profit before tax of GHS218million in 2021.

A close examination of the bank statement shows that the Bank grew its Net interest income from GHS312million to GHS337million, while net fees and commission also went up by over GHS7million.

Assets

The Bank grew its total assets from GHS3.95billion at the close of 2020 to over GHS5.3billion by December 31, 2021, representing a 36% improvement in the asset position of the Bank. The growth in the asset base of the bank was largely driven by additional investments earning assets.

Investment securities within the review period grew from GHS 1.24bn in 2020 to GHS 2.71bn in 2021;

Total liabilities of the bank for the year under review stood at GHS 4.24bn, an increase of GHS 1.28bn from the GHS 2.95bn posted in December 2020.

CAR

The bank’s Capital Adequacy Ratio (CAR) witnessed a marginal reduction ending 2021 with a CAR of 22.8% from the previous year’s CAR of 24.4%.

Despite the marginal decline, UBA Ghana’s 22.8% CAR is well above the Bank of Ghana’s 11.5% minimum CAR regulatory requirement.

NPLs RATIO

The loan asset quality of UBA Ghana witnessed significant improvement as the bank was able to reduce its non-performing loans (NPL) by 14.9 percentage points. Effective implementation of risk management policies resulted in an improvement of the ratio of the Non-performing loan to 29.4% (from 44.3% at the end of 2020) as of the close of the year.