Excerpts of Interview with Emem Usoro: UBA Investing Heavily in AI for Efficient Customer Service Delivery - Part I

The Executive Director, Nigerian North Bank, United Bank for Africa Plc, Emem Usoro, boasts of over 20 years’ banking experience spanning customer service, retail, commercial, corporate banking and public sector, covering all the regions in the country. Before now, she was the Directorate Head, Abuja and North Central Bank and was also the Regional Director, Lagos Island region in charge of 32 branches in the Apapa and Lagos Island region, where she was responsible for developing, planning and implementing strategies to grow and turn around ailing branches, amongst other activities. She has a strong track record of winning and executing high-powered transactions. In this interview she speaks about the intervention of the bank in strategic sectors.

In the face of global economic uncertainties caused by the Russia-Ukraine war, United Bank for Africa (UBA) implemented a robust risk management framework to ensure continued growth and profitability in its Northern operations. This article explores UBA's proactive measures and strategic interventions to navigate these challenges effectively.

UBA's Risk Management Approach:

UBA anticipated the potential impact of the Russia-Ukraine war on global and local economies. As a result, the bank reviewed sectors and customer segments that would be severely affected and activated various proactive measures:

1. Re-evaluation of Borrowing Customers: UBA assessed the capacity of borrowing customers in affected sectors to repay their loans. Repayment terms were varied as necessary to accommodate the changing circumstances.

2. Reduction in Banking Costs: In order to support affected customer segments, UBA implemented cost reduction measures tailored to their specific needs. This aimed to alleviate financial burdens and maintain their business operations.

3. Aggressive Financial Inclusion Drive: UBA embarked on an extensive financial inclusion campaign, particularly targeting rural communities in the north. By increasing the number of banked individuals, the bank enhanced financial stability and facilitated economic growth in these regions.

Strategic Interventions:

UBA actively participated in various intervention schemes and partnerships to address the challenges posed by the Russia-Ukraine war. These initiatives included:

1. Collaboration with the Central Bank of Nigeria: UBA engaged in special intervention schemes initiated by the Central Bank of Nigeria, such as the Anchor Borrowers Scheme and Commercial Agriculture Credit Scheme. These programs aimed to increase local food production, boost self-sufficiency, and alleviate hunger in Nigeria.

2. Partnerships with Donor and Multilateral Agencies: UBA forged partnerships with donor and multilateral agencies to execute intervention programs, including the World Food Programmes in several states across Northern Nigeria. Through cash disbursements and fund transfers exceeding N12 billion, UBA contributed to poverty reduction, improved health, and well-being in these communities.

Positive Impact on UBA's Business Community:

UBA's strategic interventions not only addressed the challenges brought about by the Russia-Ukraine war but also positively impacted the communities where the bank operates in Northern Nigeria. By supporting local businesses and improving economic conditions, UBA's customers experienced increased disposable income, resulting in higher savings and investments with the bank.

Despite the global economic impact of the Russia-Ukraine war, UBA successfully mitigated risks and ensured continued growth and profitability in its Northern operations. Through a robust risk management framework, proactive measures, and strategic interventions, the bank navigated the challenges effectively. UBA's collaboration with governmental and non-governmental entities contributed to curbing high inflation rates, enhancing food security, and fostering economic development in Northern Nigeria. As a responsible corporate citizen, UBA remains committed to supporting infrastructure development and facilitating the transition to clean energy in collaboration with various stakeholders.