United Bank for Africa, (UBA) has responded to reports that it has failed to pay its workers bonuses due them after the bank posted impressive profits in its 2012 financials.
Citi Business News has gathered some staff of the bank are agitating over the unpaid bonuses.
According to them management had explained the holdup was as a result of delay in approval from management of the bank In Nigeria.
UBA in response to the matter however said it was on course to announce the bonuses.
"Staff of UBA Ghana are well aware that as a practice, bonuses are paid soon after the publication of the bank’s financial performance and this has been done paving the way for the announcement of bonuses to staff just as was paid in 2012."
Some staff who spoke to Citi Business News on condition of anonymity had also alleged the delay in unpaid bonuses was a recurrent problem, saying management was not usually loyal to its promises.
But the bank dismisses the assertion. "UBA Ghana has consistently paid its workers what is due them with the latest salary increment across board announced a few works ago.
This new increment comes on the heels of a 2012 salary increment for 70% of staff."
Meanwhile a 30 percent salary increment proposed by management of the bank is expected to take effect this month.
UBA in its 2012 financial statement published on Monday March 11, 2013, showed a profit before tax (PBT) of GH¢ 62.9 million compared with GH¢ 30.1 million in 2011, representing an incremental growth rate of 108 per cent.
In Profit After Tax (PAT) terms, the Bank grew by 112 per cent from GH¢22.4 million in 2011 to GH¢ 47.5 million in 2012.
There was also an appreciable growth in total assets of 23 per cent from December 2011 to December 2012.
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