Winning BAFI awards will motivate United Capital – Ashade

Pan-African financial and investment services group, United Capital, has said that the multiple awards that it won at the 2024 Banks and Other Financial Institutions Awards would encourage it to do better.

This was disclosed by the Group Chief Executive Officer of United Capital, Peter Ashade, in a group made available to The PUNCH on Tuesday.

United Capital won five categories at the annual award ceremony, including Financial Services Group of the Year (Non-Banking), Investment Management Firm of the Year, Innovative Fund Manager of the Year, Stockbroking Company of the Year, and Trustees Company of the Year.

Ashade said, “We are deeply honoured to be recognised by our industry peers with these prestigious awards. The recognition of the Group and our subsidiaries reaffirms our commitment to delivering world-class financial solutions and creating exceptional value for our clients, investors, and shareholders.”

The United Capital boss, who was also recently named one of Nigeria’s top CEOs at the BusinessDay Top CEOs Awards, added, “This milestone inspires us to continue innovating, pushing boundaries, and setting new benchmarks as we lead the charge in shaping the future of finance in Nigeria and across Africa.”

In its interim report for the third quarter of 2024, the firm announced a 61 per cent growth in its gross earnings to N28.17bn from N17.51bn in the corresponding period of 2023.

The firm’s profit before tax rose by 93 per cent year-on-year to N18.73bn, as profit after tax grew by 89 per cent year-on-year to N15.98bn.

Recall that the group led the issuance of Nigeria’s first-ever Domestic FGN US Dollar Bond, which raised over $900m and expanded its operations with the launch of its seventh subsidiary, UCEE Microfinance Bank.