UBA Records Impressive Growth
UBA Sierra Leone has defied the odds and achieved remarkable success under the leadership of Mohamed Samoura, the acting Managing Director. With an impressive financial performance and a growing customer base, the bank is setting new standards in the industry. Let’s dive into the details of their astonishing journey.
Record Profits Amidst Economic Challenges:
Despite the prevailing economic difficulties, UBA Sierra Leone has announced record profits in their 2022 Financial Year report. The bank recorded a staggering Profit Before Tax (PBT) of SLE 271 million and a Profit After Tax (PAT) of SLE 203 million, representing a remarkable year-on-year growth of 71%. This outstanding performance has resulted in an average return on equity of 52.2%, far surpassing the previous year’s figure of 39.3%.
Contributing to the Economy:
UBA Sierra Leone’s success story is not just limited to their own growth. The bank has also significantly increased its corporate tax responsibility to the government, with a notable increase from SLE 40 million in 2021 to SLE 67.9 million in 2022. This demonstrates UBA’s commitment to playing a vital role in the country’s economic development.
Expanding Customer Base and Earnings:
UBA Sierra Leone’s growth is further evident in its increased customer base, which has surged from 246,000+ customers in 2021 to an impressive 450,000+ customers in 2022. This surge has resulted in a remarkable 64% increase in gross earnings. Additionally, the bank’s net interest income has skyrocketed by 70%, from SLE 163.7 million to an impressive SLE 278.9 million.
A Bright Future Ahead:
With Mohamed Samoura at the helm, UBA Sierra Leone is poised for even greater success. The bank’s unwavering dedication to customer satisfaction, innovation, and strategic growth has positioned them as a force to be reckoned with in the industry. As they continue to prioritize these key factors, there is no doubt that UBA Sierra Leone will continue to thrive and set new benchmarks for excellence.
