When the Heirs Holdings inaugurated its “HH Group Directors’ Annual Summit” that convened over 100 HH Group board members earlier in the year, something profound came out of the commentary of Nigeria’s Vice President, Senator Kashim Shettima.
“Tony Elumelu has become an enigma, a banking colossus, a power industrialist, and a force that cannot be ignored. He is one of our own who believed in Nigeria and threw his heart into it. He is a Nigerian economist, entrepreneur and indeed a philanthropist, who has given life meaning to millions of Nigerians and Africans.”
“These twin commitments are fundamental to our success; we are indeed building to last, redefining success in every sector we operate in, and demonstrating our purpose to improve lives and transform Africa.” Further consolidating the record performance delivered in the Group’s 2023 Full Year Financials, UBA again saw Profit Before Tax rising significantly by 155% from N61.7 billion in Q1 2023, to N156.34 billion in Q1 2024; while Profit After Tax jumped from N53.5 billion to N142.5 billion, an impressive rise of 165% year-on-year.
In the same vein, after-tax profit from the bank’s subsidiaries around the world rose 543.5 percent to N251 billion in 2023 from N39 billion six years ago. The lender declared a total profit of N607.6 billion in 2023, with subsidiaries playing a key role and contributing 41.4 percent.Repositioning