The group managing director, FBN Holdings, Mr. Urum Kalu Eke also known as UK Eke has continued to create a niche for himself in the financial world with the continuous transformation of FBN Holdings Plc.
Since becoming the chief executive officer and group managing director at FBN Holdings Plc in July 15, 2017 and since January 1, 2016 respectively, the Holdings has continued to witness milestone achievement in transformation and innovation needed by a 21st Century financial institution to compete and remain relevant.
He has resuscitated the Holding subsidiaries that comprises of commercial banking, merchant banking, capital banking and insurance to world class recognition, strengthen corporate governance and improve on fundamentals needed by a financial institution to compete globally.
Under his watch, the commercial banking business has continued to strengthen its competitive position with re-organisation and recapitalisation in key markets to increase the contribution of international subsidiaries.
The commercial bank reaffirmed its leadership in retail banking with effective coverage of the country via the agency banking initiative with about 15,000 agents, thereby deepening financial inclusion.
With his drive and passion for the financial institution, the commercial bank recently celebrated 125th anniversary as the oldest and one of the most resilient banking groups in Africa, with the aim to regain market leadership position by leveraging robust and diversified business model whilst offering excellent service delivery and value to over 15.7 million customers.
The Holdings Company for the first time since inception in 2010 declared a N0.26 per 50 kobo ordinary share dividend in its 2018 financial year results that was released to Nigerian Stock Exchange (NSE) last Friday.
According to him, “Over the course of the 2017 – 2019 strategic cycle, the priority for management has been to strengthen the various businesses across the Group and position for sustainable growth over the long term. Our three-pronged approach has primarily been to drive long-term revenue generation capabilities, overhaul risk management processes and drive efficiency across our businesses.
“We have seen significant results in our revenue diversification aspiration, with improving digital banking offerings which have enhanced our non-interest income from the commercial banking group. Similarly, there has been steady growth in contribution to the revenue pool of the Group from the insurance business and the merchant banking business, helping to further reinforce the revenue generation capacity of the Group.
“The revamp of our risk management architecture, which is one of the key enablers to our shareholder value creation aspiration, will ensure our revenue generating capacity translates to stronger growth in profitability now that we have materially progressed in resolving the legacy issues as evidenced by the full provision for the largest NPL in our loan book.
“Finally, we have also focused on driving operational efficiencies across the Group by leveraging technology, improving processes and increasing synergies across various entities.”
For this year, he said the financial institution is expected to increase interest income to complement growing non-interest revenue as undertaken guided expansion of the loan book which contracted in the last two financial years.
However, UK had serves as member of board of directors at Nigeria Sovereign Investment Authority and has been director at FBNQuest Merchant Bank Limited since September 14, 2016.
Eke served as an executive director of Public Sector South at FBN Holdings Plc (Formerly Known as First Bank of Nigeria Plc) and First Bank of Nigeria Ltd. since 2011 until January 1, 2016. He served as Executive Director of Regional Businesses – Lagos & West at Diamond Bank Plc until April 30, 2011.
Eke served as an executive director of Corporate Banking of Diamond Bank Plc since 2006 and also served as Executive Director of Specialised Industries. He served as Executive Director of Commercial Banking of Diamond Bank Plc since May 2005 and its Executive Director of National Corporate. He joined Diamond Bank Plc in 1992.
He worked for Diamond Bank Plc for 19 years. He is a seasoned banker with deep financial services experience spanning diverse areas, including risk management, consulting, taxation, process engineering, capital market operations and business assurance. He began his career with the professional firm of Deloitte Haskins & Sells International in 1985, where he rose to become a Senior Audit Consultant.
He serves as Director of Diamond Securities Limited and Financial Markets Ltd. He serves as a Non-Executive Director at Financial Institutions Training Centre (FITC). He served as a Non-Executive Director at FBN Bank (UK) Limited until March 15, 2017.
He has been a Non-Executive Director of First Pension Custodian Nigeria Ltd. since April 2012. He has been a Non-Executive Director at First Bank of Nigeria Ltd since January 1, 2016. He has been Director of FBN Holdings Plc since 2011.
He served as Executive Director at First Bank of Nigeria Ltd. until December 31, 2015. He served as Executive Director of Diamond Bank Plc since 2005 until April 30, 2011. He served as a Director of Diamond Capital Ltd. (also known as Diamond Capital and Financial Markets) and Diamond Bank du Benin. He served as Executive Director of FBN Holdings Plc since May 16, 2011. A respected business administrator, Mr. Eke is a philanthropist. He is a recipient of the national honour of Member of the Order of the Federal Republic (MFR). He founded and runs the Elder K.U. Eke Memorial foundation and is a Paul Harris Fellow of Rotary Club International. He is also a Fellow of the Chartered Institute of Taxation and a member of the Institute of Management Consultants (IMC).
He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN). He has attended various Executive Management Programmes in top rated business schools including Harvard, Stanford Graduate School of Business at Stanford University, Lagos Business School as well as IESE Spain and Oxford University. He is an alumnus of the Wharton Business School at the University of Pennsylvania, USA. He holds a Bachelor of Science Degree in Political Science from the University of Lagos and a Master’s in Business Administration in Project Management Technology from Federal University of Technology Owerri.
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