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Message from the CEO
07 Apr, 2017
Dear Business Partners,
The celebrated Chinese philosopher, Confucius said that, “The man who moves a mountain begins by carrying away small stones”.
This quote aptly describes what we have been doing at UMB over the last several years. We have taken strategic steps to turn around the fortunes of the bank and I am very happy to inform our cherished partners that UMB has turned the corner in terms of financial results. The bank has recorded an impressive 455% increase in after tax profit and a 97% increase in total assets.
On behalf of the board, management and staff of UMB, I wish to express our deepest gratitude to our customers and business partners for believing in the vision of the bank and for sticking with us. We could not have done this without you and we commit to sustaining the gains we have made thus far.
Our history as a bank is built on taking bold decisions which tend to have transformational impact on the economy of Ghana. From the establishment of a hire purchase and leasing business in Ghana to the setting up of centres to cater exclusively to SMEs, UMB has positioned itself as a preeminent partner to successive governments and Ghanaian businesses throughout our forty - five (45) years of existence.
In this spirit, I am very proud to let you know that UMB has created liquidity space for an amount of up to 100 million United States Dollars to support the government’s One District, One Factory Initiative. This is a Public – Private Partnership (PPP) project and will be implemented through UMB's PPP Incubator Centre, which is located at the UMB Centre for Businesses in Madina, Accra.
While the Ministry of Trade and Industry finalizes the One District, One Factory framework, we encourage all our business partners to share this information with their networks.
We are proud to be the bank at the centre of such a bold initiative and I am personally excited at the positive prospects and opportunities for 2017 and beyond.
I wish you the very best for the second quarter of the year and thank you once again for your partnership.