- GMD announces 170% salary increase
Over 5,000 staff of the United Bank for Africa (UBA) Plc, started the new year on a cheery note as the bank on Friday, announced a bouquet of promotion and salary increment which begins with immediate effect, this January.
Beneficiaries of the exercise will receive up to 170% increase in their salaries and benefits, whilst a good number have been moved to higher grade levels.
The UBA Bank in the last quarter of 2019, UBA had reformed its grading system in its bid to become one of the most competitive in the industry. The bank crashed its grade levels to 12 levels from entry level, to the top of the pyramid. Hitherto, the bank had 16 grade levels. This means that staff will now find it much easier to attain top leadership management positions at UBA as their careers progress much faster.
The UBA bank’s spokesman Mr Nasir Ramon Olanrewaju in a statement made available to reporters also announced a massive recruitment where over 4000 new staff members resumed in the last week of December 2019 in Nigeria alone. UBA currently stands as the highest employer of labour amongst Nigerian banks with a staff strength of close to 20,000.
The statement quoted the Group Managing Director/Chief Executive Officer of the bank, Kennedy Uzoka, who announced the bank’s new staff improvement initiatives to the excited employees, as noting that UBA will continue to seek new ways to improve the fortunes of its staff, who he described as the backbone of the bank’s operations.
Uzoka who spoke to the staff in a bank-wide live broadcast said, “As a leading financial institution, we do not take issues relating to our staff lightly. We take great pride in being a listening bank that has the ears of our employees as they turn the wheels which make the organisation successful for our customers and shareholders. UBA recruits highly talented staff who perform at the best standards and deserve to be remunerated accordingly”
Continuing, Uzoka said “We have also taken steps to ensure that our bank remains at the top tier as it relates to talent pool. We want to train the best and we have crashed the grade structure to make it easier and faster for our employees to progress along their career. With this new grade structure, it will be possible for a new graduate employed at UBA to rapidly chart their own careers and become GMD by the age of 36.”
