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B N W: Biafra Nigeria World News |
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Union Bank Board chairman, two directors retireChairman of Union Bank of Nigeria PLC, El der Kalu Uke Kalu and two external directors have retired from the board of the bank after completing their two-term tenure of four years each. The directors are Mr. Bassey Ndiokho and Alhaji Sabo Sodangi. The bank�s Group Managing Director/Chief Executive, Dr. Godwin Oboh, explained that the three directors attended their last board meeting recently and were commended for their meritorious service to the bank. He said the board specially commended the chairman for the exemplary leadership he provided to the board in those eight years which enhanced the bank�s performance and brought abundant prosperity to its shareholders. During their tenure, the bank�s performance grew in leaps and bounds. For instance, the group gross profit as at March 31, 2003 hit N12.217 billion from the N1.257 billion recorded as at September 30, 1996 when they joined the board. The bank�s gross earnings also rose from N11.210 billion to N44.013 billion within the same period. Similarly, the bank�s and assets and deposits grew to N366.68 billion from N77.68 billion and N251.64 billion from N56.9 billion respectively. Dr. Oboh indicated that the process of appointing replacements for the retired directors was in progress, adding that as soon as the board made a decision, it would be communicated to the public after the approval of the Central Bank of Nigeria and shareholders� ratification at the forthcoming yearly general meeting. Meanwhile, he called on the staff of the bank to join him in congratulating the retired directors while wishing them long life and prosperity in retirement.
Wednesday, June 30, 2004 |
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