UMB Records Impressive Results

John Awuah, CEO, UMB

UMB has posted an after-tax profit of GH¢20.4million for the 2016 financial year, representing an impressive 455 percent increase in after tax profit.

The bank also recorded a 57 percent increase in customers’ deposits and a 97 percent increase in total assets.

Commenting on the bank’s excellent financial results, Chief Executive Officer (CEO) of UMB, John Awuah, expressed his appreciation to the bank’s customers and other stakeholders for believing in the vision of the bank and supporting the bank throughout the period of transformation.

Mr. Awuah also praised the dedication and support of staff of UMB.

“Since I joined the bank, I have been awed by the passion and commitment of UMB staff to our transformation agenda and I am very happy that we have started seeing the results of this dedication.”

The bank, according to Mr. Awuah, has also invested heavily in its IT infrastructure which has enhanced the speed at which the bank operates.

“We have significantly invested in the operating platform of the bank and most importantly, we have changed our core banking application which allows us to interface with third party systems seamlessly,” Mr.  Awuah added.

The expansion of the bank’s electronic and physical channels is also a major factor for the bank’s stellar performance.

This, according to Mr. Awuah, has extended “our reach to locations where we felt we were under represented. We have also deployed various electronic-based products and increased our branch network across the country to meet the needs of existing and potential customers.”

Mr. Awuah said that the bank will not rest on its oars and was already focused on the next phase of the bank’s growth.

“The next phase of UMB is not the teller serving you, it is you serving yourself. We are going to bring banking to people’s homes, in their cars, on their dining tables and wherever they find themselves.”