UBA targets 25% consumer lending portfolio

The United Bank of Africa (UBA) has revealed plan to aggressively increase its consumer lending portfolio from 10 per cent to about 25 per cent.

According to the bank, increasing consumer loans would be a much-needed catalyst to inclusive economic growth.

The bank’s Group Head Consumer Lending Mr. Anant Rao, said this yesterday, during a virtual media parley where he spoke on the theme: ‘Stimulating Nigeria’s Economic Growth and Impacting People’s Lives.’

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He also revealed the bank’s re-launch of its ‘Click Credit’ with a new feature which enables customers access loans in 3 minutes.

On plans to increase its consumer lending, Rao said: “Our guiding principle, I just want to stress, is that we have a customer first philosophy which drives what we do in UBA.”