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Union Bank Wins Big at the Fourth FMDQ GOLD Awards.

Union Bank records N6.4bn profit, gross earnings up 18% 

Nigerian lender, Union Bank, has received an award for the Largest Commercial Paper Lodgement in the primary market awards category at the just concluded FMDQ GOLD awards. This is an award bestowed on the issuer with the largest total commercial paper value admitted on FMDQ’s depository during the year in view.

Union Bank received the award for its N100 billion commercial programme issuance on FMDQ.

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The GOLD Awards ceremony, underscored by the tenets of FMDQ’s ‘GOLD’ Agenda (Global Competitiveness, Operational Excellence, Liquidity, and Diversity), is designed to recognise excellence, quality service, dedication, innovation, and dynamism in the Nigerian fixed income market.

Commenting on the recognition, Chief Executive of Union Bank, Emeka Okonkwo, said the award was indicative of the confidence the investing community has shown in the re-energised Union Bank brand. He said:

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“We are honoured to receive this award from FMDQ, a testament to our contribution to the acceleration of the financial markets, and the economy. We acknowledge and appreciate the support of the investor community and assure our stakeholders on our unwavering commitment to delivering our long-term growth strategy.”

Now in its fourth edition, The FMDQ Gold Awards, held annually, recognises stakeholders whose participation in the fixed income, foreign exchange, and derivatives markets, have supported and fostered growth and development of these markets as well as the Nigerian economy. The inaugural edition was held in 2018.

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