Connect with us

Business

Unity Bank’ll Deliver Value to Investors, Says CEO

Published

on

Unity bank
  • Unity Bank’ll Deliver Value to Investors, Says CEO

The Managing Director/CEO of Unity Bank Plc, Mrs. Tomi Somefun has assured investors of the lender’s commitment to deliver bountiful returns on their investments.

The bank chief who spoke after the bank posted N3.8 billion Profit Before Tax (PBT) for the third quarter ended September 30 this year, said the lender remained committed to delivering value to its stakeholders, saying its profits came from efficient balance sheet management and cost containment initiatives.

Mrs. Somefun emphasised that the bank has continued to maintain and sharpen its focus on executing strategic choices aimed at creating a large diversified bank with a strong retail/SME base, development of array of products and consolidating market confidence to boost its growth trajectory”.

According to analysts, with the bank’s repositioning efforts and consistent focus to tap into the emerging opportunities in the enlarged financial services space within Nigeria, Unity Bank is poised to deliver quality banking services to emerging sectors in Retail/Small and Medium Enterprises, Commercial and the Agricultural value chain.

The bank also grew its assets to N476.15 billion within the period, representing an increase of 7.4 per cent or N32.6 billion over N443.3 billion recorded as at 31 December, 2015.

The bank’s customers’ deposit equally rose by N32.5 billion to N263.91 billion indicating an increase of N32.5 billion. The figures, analysts said, showed a measure of customers’ growing confidence and increased business momentum.

“Furthermore, the various cost optimisation strategies and other operational overhauls which were embarked upon by the new Management of the bank saw operating expense dropped by 14 per cent or N3.1 billion to N19.6 billion against N22.8 billion recorded in September 2015.

The bank recently introduced the UnityBiz account to enable it boost its support for Micro, Small and Medium Enterprises (MSMEs).

The lender reiterated its commitment to the Small and Medium (SMEs) segment of the market, which has been identified as the fulcrum of economic growth.

“The value proposition embedded in the UnityBiz current account lies in the fact that structured businesses in the SME space are able to access both the asset and liability side of the product at concessionary rates, which benchmark the best pricing offered in the industry,” the lender said in a statement.

The SME target markets include retailers, social services, schools, contractors, professional service firms, wholesalers, manufacturers, hospitality, non-governmental organisations, clubs and associations, suppliers and the agri-business value chain. The purpose, it said, was to offer the SME products that bring immense value to the operators.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Business

Transcorp Hotels Expand into Marketplace, Launches Aura to Connect People, Hoteliers, Others

Published

on

Transcorp hotel

Transcorp Hotels Plc, on Thursday, announced it has launched a new digital platform, Aura, through which people can book accommodation, restaurants and experiences.

Aura, Transcorp’s first in the alternative accommodation segment, is part of the company’s asset-light model, leveraging technology to deliver true hospitality, exciting experiences, and drive shareholder value.

It’s a new dawn in the hospitality industry! I am thrilled to introduce you to Aura by Transcorp, the digital platform we are using to connect people to quality accommodation, great food, and awesome experiences,” Managing Director and Chief Executive Officer of Transcorp Hotels Plc. Dupe Olusola said.

For more than 30 years, Transcorp Hotels Plc has been at the forefront of creating a superior guest experience at our locations. Today, our commitment to innovation has offered us an opportunity to extend this beyond the hotel premises,” Olusola added.

The launch of Aura by Transcorp is one of the most significant developments in the company’s history as it seeks to transform the travel and tourism industry in Africa by focusing on three important components of travel, whether for leisure or business — where you stay, what you eat and how you spend your time. With its people-driven hospitality model, Aura is set to revolutionise travel and help remind Africans of our deep history of hospitality.

Speaking on the launch of Aura, Obong Idiong, Chief Executive Officer at Africa Prudential Plc, Aura’s technology partners, expressed his excitement. “Finding the right accommodation when you travel can be incredibly complex. Options available for the right prices are often limited, and travellers sometimes end up with accommodation that taints the travel experience. Transcorp Hotels Plc has been able to fix that with Aura and we are proud to be associated with them.”

To ensure topnotch user experience, we built a solution to drive digital transformation through the adoption of shared living spaces for the Aura business. With an advanced search algorithm powered by artificial intelligence, Aura determines the relevance of locations taking into consideration, the customers’ preferences and requirements to meet them at the point of their needs,” Idiong added.

Priscilla Adeboye, a travel enthusiast and early adopter of Aura, said the global pandemic has pushed international travel down her list. “But I still want to be able to take some time off work or spend a weekend away from home with the family. I have found incredible homes on Aura that meet my need for space and privacy.

 

Continue Reading

Appointments

Siemens Energy Nigeria Appoints Seun Suleiman as Managing Director

Published

on

siemens

Seun Suleiman is the New Managing Director of Siemens Energy Nigeria

Mr. Seun Suleiman is the new managing director of Siemens Energy Nigeria, the company announced on Wednesday.

According to the statement released by the energy company, Suleiman will be responsible for the entire management of operations and decisions on business policies and corporate strategy.

Commenting on his appointment, Suleiman said, “It is an absolute honor to lead the business for Siemens Energy Nigeria and I look forward to delivering on the brand’s promise of excellence.

Suleiman joined Siemens Energy in 2014, bringing over 15 years’ experience and deep expertise in the private sector across Europe and West Africa.

The statement said, “He is an accomplished business strategist and success-driven leader with strong business acumen. Suleiman has also been a core member of the executive management team at Siemens Energy serving in roles as Sales Director West Africa – Service Distributed Generation Oil & Gas and Vice President Service & Digital.

“Prior to this, he also held various functional and managerial positions with ABB Ltd UK, ABBNG Nigeria, Schneider Electric Nigeria and Dresser-Rand Nigeria Ltd.

It added that Suleiman was experienced in establishing operational excellence with specific competence in the power, oil and gas sectors.

Continue Reading

Business

FG Reopens Osubi Airport Warri for Daylight Operations

Published

on

muritala-muhammed-airport

FG Reopens Osubi Airport Warri for Daylight Operations

The Federal Government on Monday said the Osubi Airport in Warri has been reopened for daylight operations.

The Minister of Aviation, Hadi Siriki, disclosed this in a tweet.

The airport was closed in February 2020 over mismanagement and debt allegation involving aviation service providers and airport management.

However, Oberuakpefe Afe, a lawmaker representing Okpe/Sapeie/vaie federal constituency, recently moved a motion for the Federal Government through the ministry of aviation and relevant authorities to reopen the airport for flight operations.

On Monday, Hadi Siriki said “I have just approved the reopening of Osubi Airport Warri, for daylight operations in VFR conditions, subject to all procedures, practices and protocols, including COVID-19, strictly being observed. There will not be need for local approvals henceforth.

Continue Reading

Trending