United Bank for Africa Plc

RATINGS RELEASE 

Agusto & Co. assigns a “Aa-“ rating to United Bank for Africa Plc.

The Rating expires on 30 June 2018.

 

United Bank for Africa Plc’s (“UBA” or “the Bank”) rating is underpinned by a good liquidity profile, strong market share, acceptable capitalisation and satisfactory profitability, driven by an experienced management team. UBA leverages on its large pool of deposit liabilities generated through 532 branches in Nigeria which was sufficient to fund 60.8% of the Bank’s N2.8 trillion total assets and contingents. UBA stood as the fifth largest bank by total assets and contingents as at 31 December 2016.

 

This rating release is transmitted to you for the sole purpose of dissemination through your newspaper/magazine/agency. The rating release may be used by you in full or in part without changing the meaning or context thereof but with due credit given to Agusto & Co.

 

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