2014 first quarter results for investors/analysts

1. Quarter One 2014
1
Investors/Analysts Presentation
APRIL 29, 2014

2. From time to time, the Bank makes written and/or oral forward-looking statements, including in this presentation
and in other communications. In addition, representatives of the Bank may make forward-looking statements
orally to analysts, investors, the media and others. All such statements are intended to be forward looking
statements. Forward looking statements include, but are not limited to, statements regarding the Bank’s
objectives and priorities for 2014 and beyond and strategies to achieve them, and the Bank’s anticipated financial
performance. Forward looking statements are typically identified by words such as
“will”, “should”, “believe”, “expect”, “anticipate”, “intend”, “estimate”, “may” and “could”.
By their very nature, these statements require the Bank to make assumptions and are subject to inherent risks and
uncertainties, general and specific. Especially in light of the uncertainty related to the financial, economic and
regulatory environments, such risks and uncertainties – many of which are beyond the Bank’s control and the
effects of which are difficult to predict – may cause actual results to differ materially from the expectations
Forward Looking Statements
effects of which are difficult to predict – may cause actual results to differ materially from the expectations
expressed in the forward-looking statements. Risk factors that could cause such differences include: credit, market
(including equity, commodity, foreign exchange, and interest
rate), liquidity, operational, reputational, insurance, strategic, regulatory, legal, environmental, and other risks. All
such factors should be considered carefully, as well as other uncertainties and potential events, and the inherent
uncertainty of forward looking statements, when making decisions with respect to the Bank and we caution
readers not to place undue reliance on the Bank’s forward looking statements.
Any forward looking statements contained in this presentation represent the views of management only as of the
date hereof and are presented for the purpose of assisting the Bank’s investors and analysts in understanding the
Bank’s financial position, objectives and priorities and anticipated financial performance as at and for the periods
ended on the dates presented, and may not be appropriate for other purposes. The Bank does not undertake to
update any forward-looking statements, whether written or oral, that may be made from time to time by or on its
behalf, except as required under applicable securities legislation
2

3. Important Notes
Definition of terms:
FY means “Full Year”; and Q1 means “First Quarter”; Q2 means “Second Quarter”; HY means “Half Year”; H1 means “First Half”;
Q3 means “Third Quarter” and 9M means “Nine Months”. The results were prepared in line with the International Financial
Reporting Standards (IFRS).
Regional split of African countries we operate in
WAMZ UEMOA CEMAC E&SA
Ghana Burkina Faso Cameroon Kenya
Guinea Benin Republic Chad Mozambique
Liberia Cote d'Ivoire Congo Brazzaville Tanzania
Sierral Leone Senegal Congo DRC Uganda
3
Important disclosure:
This report was prepared by UBA to provide background information on the Group. The report is issued for information purposes
only, especially with regards to enabling users understand the inherent potentials of the business. It is therefore not a solicitation
to buy or sell the stock.
The information contained herein is subject to change and neither the bank nor its staff is under any obligation to notify you or
make public any announcement with respect to such change.
Users are hereby advised to exercise caution in attempting to rely on these information and carry out further research before
reaching conclusions regarding their investment decisions.
Sierral Leone Senegal Congo DRC Uganda
Gabon Zambia

4. Outline
Overview of UBA
Macroeconomic Overview
Quarter One 2014 Financial Highlights
1
2
3
4
Review of Quarter One 2014 Financial Results
Focus on UBA Congo Brazzaville
4
5
Appendix6

5. 5
1. Overview of Macro Economy

6. Nigeria
GDP ($bn) 432.0
GDP Growth 6.8%
Population (mn) 166.2
Inflation Rate 7.8%
Interest Rate 12.0%
Debt-to-GDP Ratio 11.0%
Exchange Rate 162.5
Foreign Reserve ($bn) 41.3
Ghana
GDP ($bn) 41.0
GDP Growth 4.9%
Population (mn) 25.4
Inflation Rate 14.5%
Interest Rate 18.0%
Debt-to-GDP Ratio 44.9%
Exchange Rate 2.3
Foreign Reserve ($bn)4.7
Overview of Macro Economy
Guinea
GDP ($bn) 7.0
GDP Growth 4.2%
Population (mn) 11.5
Inflation Rate 10.3%
Interest Rate 16.0%
Debt/GDP Ratio 64.1%
Exch. Rate 7,020.0
Guinea
Senegal
Sierra
Leone
Liberia
Ivory
Coast
Ghana
Nigeria
Cameroon
Chad
DR Congo
Uganda
Kenya
Gabon
Burkina Faso
Benin
Locations outside AfricaLiberia
GDP ($bn) 2.0
GDP Growth 8.1%
Population (mn) 4.2
Inflation Rate 8.5%
Interest Rate 13.5%
Debt-to-GDP Ratio 44.9%
Exchange Rate 85.5
Cote D’Ivoire
GDP ($bn) 25.0
GDP Growth 9.80%
Population (mn) 23.2
Inflation Rate -0.2%
Interest Rate 3.5%
Debt-to-GDP Ratio 78.8%
Exchange Rate 486.4
Sierra Leone
GDP ($bn) 4.0
GDP Growth 20%
Population (mn) 5.98
Inflation Rate 8.2%
Interest Rate 10.0%
Debt/GDP Ratio 28.3%
Exchange Rate 4,328.5
Burkina Faso
GDP ($bn) 10.0
GDP Growth 8.0%
Population (mn) 16.5
Inflation Rate 0.1%
Interest Rate 3.5%
Debt-to-GDP Ratio 16.2%
Exchange Rate 513.2
Benin Republic
GDP ($bn) 8.0
GDP Growth 4.2%
Population (mn) 10.1
Inflation Rate 0.4%
Interest Rate 3.5%
Debt-to-GDP Ratio 18.8%
Exchange Rate 513.2
Cameroun
GDP ($bn) 25.0
GDP Growth 6.1%
Population (mn) 21.7
Inflation Rate 1.6%
Interest Rate 3.3%
Debt-to-GDP Ratio 6.5%
Exchange Rate 486.4
TChad
GDP ($bn) 11.0
GDP Growth 7.2%
Population (mn) 12.5
Inflation Rate 3.1%
Interest Rate 3.3%
Debt-to-GDP Ratio 19.5%
Gabon
GDP ($bn) 19.0
GDP Growth 6.1%
Population (mn) 1.6
Inflation Rate 3.3%
Interest Rate 3.3%
Debt-to-GDP Ratio 13.8%
Exchange Rate 515.4
USA
GDP ($bn) 15,685
GDP Growth 2.7%
Population (mn) 317.3
Inflation Rate 1.6%
Interest Rate 0.3%
Debt/GDP Ratio101.6%
Exchange Rate 1.00
Foreign Reserve ($bn)
145,205
France
GDP ($bn) 2,613
GDP Growth 0.8%
Population (mn) 65.3
Inflation Rate 0.6%
Interest Rate 0.3%
Debt/GDP Ratio 93.5%
Exchange Rate 1.35
Uganda
GDP ($bn) 20.0
GDP Growth 6.9%
Population (mn) 36.4
Inflation Rate 7.1%
Interest Rate 11.5%
Debt-to-GDP Ratio 33.3%
Exchange Rate 2,475.00
Congo
Zambia
Tanzania
Mozambique
WA EA CA
Exchange Rate 513.2
Senegal
GDP ($bn) 14.0
GDP Growth 0.03%
Population (mn) 13.7
Inflation Rate -0.1%
Interest Rate 3.5%
Debt-to-GDP Ratio 59.4%
Exchange Rate 513.2
Zambia
GDP ($bn) 21.0
GDP Growth 6.5%
Population (mn) 14.6
Inflation Rate 7.7%
Interest Rate 12.0%
Debt-to-GDP Ratio 31.2%
Exchange Rate 5.6
Exchange Rate 515.4
Congo Brazzaville
GDP ($bn) 14.0
GDP Growth 4.9%
Population (mn) 4.3
Inflation Rate 3.4%
Interest Rate 3.3%
Debt-to-GDP Ratio 19.6%
Exchange Rate 505.9
Congo
GDP ($bn) 18.0
GDP Growth 8.1%
Population (mn) 65.7
Inflation Rate 1.2%
Interest Rate 2.0%
Debt-to-GDP Ratio 47.0%
Exchange Rate 924.0
Kenya
GDP ($bn) 37.0
GDP Growth 4.4%
Population (mn) 43.2
Inflation Rate 6.3%
Interest Rate 8.5%
Debt-to-GDP Ratio 46.5%
Exchange Rate 86.5
Tanzania
GDP ($bn) 28.0
GDP Growth 6.5%
Population (mn) 47.8
Inflation Rate 6.10%
Interest Rate 12.0%
Debt-to-GDP Ratio 39.9%
Exchange Rate 1621.5
Mozambique
GDP ($bn) 15.0
GDP Growth 7.1%
Population (mn) 25.2
Inflation Rate 3.0%
Interest Rate 8.3%
Debt-to-GDP Ratio 42.2%
Exchange Rate 30.9
Exchange Rate 1.35
Foreign Reserve (#bn)
125.7
UK
GDP ($bn) 2,440
GDP Growth 2.8%
Population (mn) 63.3
Inflation Rate 1.9%
Interest Rate 0.5%
Debt/GDP Ratio 88.7%
Exchange Rate 1.06
Foreign Reserve (#bn)
110,883
Source: Trading Economics
6

7. 7
2. Quarter One 2014 Financial
Highlights

8. Q1 2014 Financial Highlights
Comprehensive Income & Profit 31-Mar-14 31-Mar-13 % Change
COMPREHENSIVE
INCOME & PROFIT
TREND
(N’million)
Gross Earnings 68,079 62,942 +8.16%
Net Interest Income 29,272 27,159 +7.78%
Operating Income 45,512 44,633 +1.97%
Operating Expenses (31,427) (29,393) +6.92%
Profit Before Tax 13,544 17,155 -21.05%
Profit After Tax 12,587 15,562 -19.12%
EFFICIENCY AND
Cost-to-Income Ratio (%) 69.1% 61.2%
Return on Average Equity (%) 22.1% 31.0%
EFFICIENCY AND
RETURN
Return on Average Equity (%) 22.1% 31.0%
Return on Average Assets (%) 1.9% 2.6%
Financial Position & Risk 31-Mar-14 31-Dec-13 % Change
FINANCIAL
POSITION TREND
(N’million)
Total Assets 2,613,256 2,642,296 -1.10%
Total Deposits 2,188,861 2,221,764 -1.50%
Net Loans 1,009,811 969,591 +4.77%
Net Assets 246,279 235,036 +4.78%
BUSINESS CAPACITY
RATIOS
Loan-to-Deposit Ratio (%) 46.13% 44.30%
Capital Adequacy Ratio (%) 21.2% 23.20%
Liquidity Ratio (%) 50.5% 55.00%
8

9. 9
3. Review of Quarter One 2014
Financial Highlights

10. Income Analysis
Gross earnings by income typeGross income trend (N’bn)
52.4
62.9
68.1
Q1'12 Q1'13 Q1'14
68.4% 70.5% 73.3%
31.6% 29.5% 26.7%
0.0%
20.0%
40.0%
60.0%
80.0%
100.0%
Q1'12 Q1'13 Q1'14
non
interest
income
interest
income
• Growing revenue base, up 8.2% in Q1 2014
• Interest income represents 73.3% of total
revenue;
• There’s an increasing contribution from
operations in other African countries to 21% in
first quarter 2014 from 19% in the corresponding
period in 2013.
Revenue split by geography
10
Q1'12 Q1'13 Q1'14
81.10% 79.2%
18.90% 20.8%
0.00%
20.00%
40.00%
60.00%
80.00%
100.00%
Q1'13 Q1'14
Nigeria & RoW Africa (excl. Nig)

11. Profitability
Operating Income (N’bn) Profit After Tax for the Year (N’bn)
38.0
44.6
45.5
Q1'12 Q1'13 Q1'14
13.1
15.6
12.6
Q1'12 Q1'13 Q1'14
Return on Avg. Equity Return on Avg. Assets • Growth in operating income inched up by
1.9% in Q1’14.
• Consequently, profit after tax of N12.6
billion for the period, down by 19.1% from
N15.6 billion in the corresponding quarter
last year. This is due to higher effective tax
rate.
• ROE and ROA still remain strong at 22% and
1.9% respectively.
11
Q1'12 Q1'13 Q1'14
29.7%
22.1%
Q1'13 Q1'14
2.6%
1.9%
Q1'13 Q1'14

12. Profit Drivers
Net Interest Margin Cost of Funds
5.2%
6.0% 5.9%
3.0%
3.2%
3.6%
Q1'12 Q1'13 Q1'14
Cost-to-Income Ratio • Net Interest Margins nowb5.9%, regulatory
induced pressure on earnings.
• Cost-to-income ratio increased to 69.1% in
the period under review.
12
Q1'12 Q1'13 Q1'14
Q1'12 Q1'13 Q1'14
65.9%
61.2%
69.1%
Q1'12 Q1'13 Q1'14

13. Financial Position
Total Assets (N’trn) Total Assets plus Contingents (N’trn)
2.1
2.4
2.6
Q1'12 Q1'13 Q1'14
2.9
3.1
Q1'13 Q1'14
28.8%
38.6%
26.3%
3.3% 2.9%
Q1’14
Total Assets Mix
FY’13
• Solid balance sheet position of
N3.1 trillion, of which assets
constitute N2.6 trillion (83%).
• Increase in loan from Dec-2013
during the period by 52%
• Share of loans grew to 38.6% in
Q1’14(vs. 36.4% in FY’13).
13
Q1'12 Q1'13 Q1'14
Q1'13 Q1'14
29.4%
36.4%
28.7%
2.7% 2.8%
Cash and
bank balances
Loans
Investment
securities
Other assets
Property and
equipment

14. Loan Portfolio
Loan Book (N’bn) Loan Book, by Customer Type
703.7 664.2
1009.8
Q1'12 Q1'13 Q1'14
61.8%
59.5%
65.9%
13.0%
19.4%
13.6%
4.8% 9.7% 8.3%
8.4%
7.2% 8.0%
6.1% 4.3% 4.1%
Q1,12 Q1'13 Q1'14
Corporate
Retail
Public Sector
Commercial
Financial Sector
NPL Ratio
• Loan growth expected to kick in over the
remaining quarters for Oil and
Gas, Manufacturing and Telecoms
• Consumer, Oil and Gas, Manufacturing and
Telecoms still account for nearly 70% of total
loans
• 60% of loans booked to corporate customers
• NPL ratio remains at 1.2% still well below
regulatory threshold and industry average.
14
2.2%
1.2%
Q1'13 Q1'14
Q1,12 Q1'13 Q1'14

15. Agric, 5%
Construction, 6%
Finance, 4%
Personal, 13%
Commerce, 9%
Oil & Gas, 18%
Power, 7%
Real Estate, 1%
Others, 8%
Loan Distribution, by Sector
Loan Portfolio (Cont’d)
Loan Distribution, by Geography
Government, 8%
Communication, 9%
Manufacturing, 12%
15
15
Rest of
World, 16%
Nigeria, 84%

16. Deposit Portfolio
Deposit Book (N’trn) Deposit Mix, by Cost
1.6
2.0
2.2
81.7% 75.8% 78.5%
18.3% 24.2% 21.5%
Q1'13 FY'13 Q1'14
Expensive
Cheap
• Deposit grew by 8.5% in Q1’14 compared
with Q1’13, while it declined from Q4’13
position by a marginal 1.5%.
• Generated largely from cheap sources
• Cheap deposits make up about 78.5% of
total Deposits.
16
Q1'12 Q1'13 Q1'14
Q1'13 FY'13 Q1'14

17. Funding, Liquidity and Capital Adequacy
Funding Mix Capital Adequacy Ratio
65.8%
84.3% 83.8%
7.4%
9.2% 9.4%7.2%
1.8%6.6% 4.8% 5.0%
Deposits Equity Borrowing Others 23.5% 23.8%
21.2%
Liquidity Ratio
• Deposits represent 83.8% of total funding
base, largely the same as FY’13.
• Strong capital adequacy and liquidity
positions. Ratios now 21.2% and 50.5%
respectively; improvements over FY 2013
positions.
17
Q1'12 FY'13 Q1'14
Q1'13 FY'13 Q1'14
60.0%
69.8%
50.5%
Q1'13 FY'13 Q1'14

18. 18
4. Focus on Congo Brazzaville

19. Congo Brazzaville – Key Financial Highlights
Comprehensive Income & Profit 31-Mar-14 31-Mar-13 Change %
COMPREHENSIVE INCOME
& PROFIT TREND (N’million)
Gross Earnings 799 368 118%
Net Interest Income 237 69 245%
Non Interest Income 534 292 83%
Operating Income 770 361 113%
Operating Expenses 538 353 53%
Profit after Tax 232 8 2,811%
EFFICIENCY AND RETURN Cost to Income (%) 70% 98%
19
Return on Average Equity (%) 6.5% 0.2%
Return on Average Assets (%) 1.5% 0.03%
Financial Position & Risk 31-Mar-14 31-Dec-13 Change %
FINANCIAL POSITION &
TREND (N’million)
Total Assets 21,423 24,873 -14%
Total Deposits 15,555 18,698 -17%
Net Loans 11,641 9,059 +28%
Net Assets 4,244 5,428 -22%
BUSINESS CAPACITY RATIOS Loan to Deposit Ratio 75% 48%
Capital Adequacy Ratio 29% 30%
Liquidity Ratio 221% 186%
19

20. Income Analysis
Revenue Trend (N’’’’mn) Revenue Mix (%)
367.8
799.9
Q1'13 Q1'14
62% 67%
38% 33%
Interest Income Non Interest Income
20
Profitability (N’’’’mn)
• Gross Earnings grew by an impressive 118% from
N367.8 million in Q1’13 to N800.0 million in the
period under review on back of higher Operating
income .
• Interest income grew faster (253% YoY) than non-
interest income, consequently PBT came in N232.0
million almost at par with the N279.3 million
achieved in FY’13.
Q1'13 Q1'14
8.0
232.0
Q1'13 Q1'14
FY'13 Q1'14

21. Financial Position
Growing Asset Base (N’’’’mn) Deposits (N‘‘‘‘mn)
Loan growth (N’’’’mn)
6,137
18,698
15,555
-
6,000
12,000
18,000
Q1'13 FY'13 Q1'14
10,358
24,873
21,422
Q1'13 FY'13 Q1'14
21
Loan growth (N’’’’mn)
Good loan growth of 592% in the period under
review relative to Q1’13; it also grew 28% from
Q4’13 t Q1’14. This translates to a loan to
deposit ratio of 75% (30% in 2013).
Cautious lending strategy, as we increase
lending to relatively less risky sectors/segments.
Total assets grew by 107% in Q1’14 compared to
Q1’13 but declined by 14% from Q4’13 to
Q1’14.
Deposit growth of 153% in Q1’14 compared to
Q1’13 but declined 17% from Q4’13 to Q1’14.
1,682.2
9,059.2
11,640.9
68%
30%
75%
0%
25%
50%
75%
100%
-
3,000.0
6,000.0
9,000.0
12,000.0
Q1'13 FY'13 Q1'14
Loan L/D Ratio

22. 85.9%
97.8%
69.9%
Q1'13 FY'13 Q1'14
Trend in Cost/Income
Improving Profitability and Efficiency
0.0%
1.5%
Q1'13 Q1'14
Return on Assets
• Robust profitability: as ROE and ROA were
impressive, at 6.5% and 1.5% respectively.
• Cost to income ratio declined significantly
from 85.9% to 69.9% YoY.
0.2%
6.5%
Q1'13 Q1'14
Return on Equity
22
22

23. 23
5. Appendix

24. Summary Historical Financials
FY2010 FY2011 FY2012 Q4 2013 FY2013 Q1 2014
Key P & L line (N’ million)
Gross earnings 177,571 184,833 220,129 76,666 263,947 68,079
Interest income 117,745 121,422 150,003 52,943 184,623 49,917
Interest expense (46,969) (46,125) (58,386) (27,876) (82,459) (20,645)
Net interest income 70,776 75,297 91,617 25,067 102,164 29,272
Non interest income 67,441 63,411 64,003 22,998 76,242 18,162
Operating income 138,217 138,708 153,093 47,352 175,907 45,512
Operating expenses (103,981) (107,716) (102,592) (24,407) (110,470) (31,427)
Profit/(Loss) Before Tax 3,219 (28,496) 52,010 9,230 57,254 13,544
Key Balance Sheet Items (N’ million)
Net loans 628,811 689,625 687,435 963,871 969,591 1,009,811
Total assets 1,617,696 1,942,793 2,272,923 2,642,296 2,642,296 2,578,892Total assets 1,617,696 1,942,793 2,272,923 2,642,296 2,642,296 2,578,892
Total deposits 1,267,171 1,444,988 1,777,788 2,221,764 2,221,764 2,171,075
Shareholders' funds 176,529 166,461 192,467 235,036 235,036 246,279
Key Ratios
Non Int. Rev/Total Rev 37.9% 34.3% 31.9% 30.0% 29.9% 26.7%
Cost to income 75.2% 77.7% 67.0% 60.9% 60.9% 69.1%
Loan/deposit Ratio 49.6% 47.7% 38.7% 44.3% 44.3% 46.1%
Loan/assets Ratio 38.9% 35.5% 30.2% 36.5% 36.5% 38.6%
Equity/assets Ratio 10.9% 8.6% 8.5% 8.9% 8.9% 9.4%
Pre Tax ROA 0.4% (6.1%) 2.3% 2.3% 2.3% 2.1%
Pre Tax ROE 0.0% (0.6%) 27.1% 26.2% 26.2% 23.8%
Tier 1 capital adequacy ratio 15.3% 15.2% 17.4% 15.4% 15.4% 15.9%
Total capital adequacy ratio 18.2% 21.7% 23.5% 23.2% 23.2% 21.2%
24

25. 25
Thank you