NOVA Bank Partners With Golf Cup Tournament; ;UBA, Sustains Its Track Record Of “Impressive Performance In Six Months

By Stephen Ubanna

With barely two months of operation from being a Merchant Bank  to a fully- fledged Commercial Bank  based on the approval of Olayemi Michael Cardoso, led Central Bank of Nigeria, CBN,  the Leadership of the new bank  appear to have embarked on aggressive  marketing of the Financial Institution to individuals and Corporate Organization.

As a prelude to sensitizing the general public about the existence of the new Money Deposit Bank, which is in the class of United Bank for Africa, UBA, plc, Zenith Bank, Guarantee Trust Company, GTCON, bank, Access/Diamod Bank and First Bank unlimited, the bank, was said to have partnered with the Nigeria Cup Golf of Excellence, as part of its commitment to the well-being and interest of the high –network individuals in the society.

As a prelude to winning the business interests of the high –networks individuals, described as the upper class in the society, the bank which may have put its business interest first by sponsoring the 27th Nigerian Cup Golf Tournament that would be hosted at the Ikoyi Golf Club 938 for 2024.

The  Golf Cup Tournament, which was said to have started on September  21, 2024, was said to have  ended on Saturday, 28, 2024, an interval of one week, was said to have attracted the nation’s Golf Community.

Note that  the yearly Golf Cup tournament  in Nigeria , is organized   by the Ikoyi Golf Community, Nigeria , IGCNA,  to showcase  the remarkable talent  of Golfers  and sports foster connections across the board.   Tayo Babalakin, who may hay have fully prepared for the Tournament  was said to have emerged  the 2024 Champion , amidst cheers,   clinching  the title  with a stung  85 gross  with Handicap, HCP, 19=66 net. The victory, according to one of the notable Golfers, has etched Babalakin‘s fame in the history books as the 2th   champion of this celebrated tournament.

There is no gain saying the fact that as a previous  Merchant Bank serving the interests of high net-worth individuals in the society, NOVA  bank has long valued  golf   as a recreation sport  for top business executives ‘’ to work and relieve stress’’.

Indeed, the Merchant bank transition to a national commercial bank may not have diminished this original commitment but was said to have deepened its relationship with the golf community, as reflected in its partnership with the Nigeria Golf Cup tournament.

An elated Philips Oduoza, the Chairman of the bank, who many believe is ardent golfer, had highlighted the importance of partnership in a speech presented by one Esther Adino, on his behalf, stressing that ‘’as a long-term partner   of the Nigeria Golf Cup tournament and the Ikoyi Club, Golf section, the annual event is always a delight for officials of NOVA.

He noted that ‘’it provides a unique opportunity to engage with esteemed customers and the broader business Community while celebrating the beautiful game of Golf.

 Oduoza, the NOVA   bank, Chairman, for over four years,  it has remained a major supporter  of this Nigeria Golf Cup tournament , organized by the Ikoyi Club,  Golf section, a sponsorship, which he had aid aligns   with the bank’s dedication  ‘’to fostering wealth creation   and enhancing the well-being of customers’’.   

Giving an insider information, he disclosed that Golf, as a recreation sport, to ease stress of business executives, plays a major role in its mission, allowing the bank to connect with high net-worth clients in the society in a more meaningful and engaging environment.

Oduoza, Chairman, NOVA Bank

 This may have informed why Oduoza, hand considered the NOVA bank, as a long –term sponsors of the Nigeria Golf up tournament   and has promised that the ban would continue to maintain its partnership with th Ikoyi Golf Club and exploring new opportunities for collaboration to elevate this esteemed club of business executives further.  

 Chiwe Mghalu,  the bank’s Executive Director, Insitutonal  and Commercial Banking  , who  may have corroborated hat the Chairman said ,  further added that   its support  to the Ikoyi Golf Club, organized Nigeria Golf Cup, yearly tournament, reflects its  avowed commitment  ‘’ to offering  the bank’s high net  -worth clients  and C-Suit  executives an atmosphere  of relaxation’’, well-being and wealth

Competition’’.

She averred that a national bank,   it will continue to develop tailored products to Small and Medium Scale Enterprise, SMEs, and retail clients, including ground breaking NOVA digital banking, which defines personal banking   experience

The Phydital platform, according Moghalu, the Executive Director, Institutional and Commercial banking,  was designed ‘’to provide seamless  financial solutions , ensuring that that its clients   can effectively manage   their wealth effortlessly  while enjoying  the customers’  businesses  but also helping them  to stay fit , relaxed  and focused’’. She was said to have further remarked that‘’Golf is perfect avenue to achieve this balance’’.

Etomi: Golf Cup Tournament Chairman

George Etomi, Chairman of the 2024, Nigeria Golf Cup tournament Organizing Committee, who could not hide his feelings was said to have commended   NOVA Bank   for their unwavering support to the yearly sporting event.  He  had asserted  that  NOVA bank’s consistent sponsorship  of the Nigeria  Cup,  truly   embodies  the spirit  of this Club –harmony  through recreation.

The Ikoyi Club Golf Chairman,  was said to have told those that cares to listen that   the Club partnership with NOVA  bank  clearly exemplifies  the harmony  and shared vision  that has made  them integral  part  of the journey. ‘’We are thankful for NOVA ‘s dedication  and  look forward  to more  opportunities  to create   lasting impacts together in the future’’, he had remarked.

He may have gladdened the heart of theNOVA bank Leadership, when he noted that as the bank continues its growth trajectory, expanding its exceptional services   to retail and SMEs markets. ‘’it remains committed to creating meaningful experiences for its high net worth clientele, while embracing   a broader audience through innovation and customer centered- solutions.

He had said that the partnership with Nigeria Cup Golf tournament reflects the values that define   NOVA Bank  Uniqueness, Leadership , Teamwork  and passion.

Elumelu : Chairman UBA plc

In a related development, the Leadership of   UBA plc,   Pan African Bank, has demonstrated that despite the down turn in the economy, they remained the master of the game, as the bank has sustained its impressive performance.  This is shocased the bank’s half year   audited financial reports which was said to have been released on the floor of the Nigerian Stock Exchange Limited, NGX.   The bank was said to have recorded   an increase in its Gross earnings, which rose from N981.77 in 20223 to N371 trillion as at June 2024, an interval of six months trading period.

The bank’s audited half  year report  also shows   that the  interest on income  increased  by 134.3%  to N1.oo3 trillion  from N428.2 billion  recorded  in the 202, half year report.The bank’s total assets   was said to have skyrocketed  by 37.2% from N20.6 trillion  in December  2023 to close  at N28.3 trillion .   

Customer deposits , going the bank’s half year audited  report shows that  it jumped  by  33.%   to close at N23.2 trillion  up from  N17. Trillion recorded in the previous year.    Note that as at June 2023,   the bank ‘s Profit Before Tax, PBT,    which a top official, had said    stood at  N402 billion but the Profit Tax, PAT,   was said to have dropped  from N378 billion  to N36 billion, as at June , 2024.  Shareholders’ funds  was said to have increased  by 47% from N2.03  trillion  in December  2023, to N2.99 trillion as at June 2024.

Despite the drop in the Pan African bank PAT,  Tony Elumelu,  led Board of Directors  , was said to have  approved an interim dividend of N2.00 per  share   for every Ordinary share of  50 Kobo each   held by the bank’s shareholders   compared to N0,50 declared  in the same period in 2023 fiscal year. Oliver Alawuba, the bank’s Group Managing Director and his Management Team, who appears to have the bank to a new level  as it continued  to deliver  strong   double-digit   growth  in high quality  and sustainable banking  revenue streams , driven by a  focused  growth  in balance sheet , transaction  and digital banking services have promised to do much better  in the remaining four months of the year to beef up the PAT, of the bank.  

Leave a Reply

Your email address will not be published. Required fields are marked *