UBA considers raising consumer lending portfolio to 25%

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The United Bank of Africa (UBA) has yesterday announced plans to increase its consumer lending portfolio from 10 per cent to about 25 per cent.

The bank’s group head consumer lending Mr. Anant Rao, disclosed this during a virtual press conference where he spoke on the theme: ‘Stimulating Nigeria’s economic growth and impacting people’s lives.’

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

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.”

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