Annual Cocktail Party (2nd January, 2010)

Sierra Leone’s only indigenous owned banking enterprise the Union Trust Bank (UTB) has scored remarkable successes in the banking sector for the year ending 2009. At a cocktail party organized for its stakeholders and shareholders over the weekend, the Chief Executive Officer James Sampha Koroma proudly boasted during his short address that in “an incredibly challenging year characterized by a ‘Great Recession’” their (UTB) “balance sheet grew by 45% while Gross earnings grew by 50%.”

Most remarkably, Mr Koroma announced that they “comfortably overshot the minimum capital requirement set by the Central Bank” and that their profit after tax is expected to “double.”
Another significant achievement Mr Koroma said was the acquisition of Finance SaLone limited which is the biggest micro finance institution in the country.

Read the complete CEO's speech