Cameroon: a new managing director for Union Bank

The restructuring of the Union bank of Cameroon (UBC) continues with the choice of corporate officers, in this case, the appointment of Charlotte Kouetcheu (photo) as Chief Executive Officer replacing Félix Landry Njoume, whose mandate ended with “the official exit of Ecobank Transnational Incorpored (ETI) as the majority shareholder of the bank”.

The new director is an experienced manager who has accumulated around thirty years of experience having held numerous positions of responsibility in the banking sector, among others, managing director of Crédit communautaire d’Afrique (CCA Bank) and director of human resources at Commercial Bank Cameroon (CBC).

The new boss of Union Bank holds a graduate degree in banking, a post-graduate degree and a master’s degree in economics. “The Board of Directors is confident that Ms. Charlotte Kouecheu will continue to effectively implement the bank’s new strategy,” the company said.

It is on November 22, 2021 that the restructuring plan of UBC was recorded during an extraordinary general meeting of shareholders focusing mainly on the ratification of the exit of Ecobank Transnational Incorporated and the entry of the State. Cameroon as a reference shareholder with 54% of the shares. Before this acquisition, the State had already injected 17.8 billion FCFA ($ 30 million) a few months ago allowing the recapitalization of this financial institution then threatened with liquidation by the Central African Banking Commission (COBAC) .

Beyond a difficult economic situation reinforced by the health crisis linked to the coronavirus, the presentation of the accounts at the end of the 2020 financial year confirmed an overall growth in UBC’s activities with an improvement in annual revenues of 9% per year. compared to fiscal year 2019. During the same period, there was a “record” growth of 18% of deposits compared to the previous fiscal year for a net banking profit (BNB) of CFAF 1.5 billion, or approximately $ 2.7 million.

LEAVE A REPLY

Please enter your comment!
Please enter your name here