UCB board marks 513th meeting with strategic commitment to transparency, recovery, and capital strengthening

United Commercial Bank PLC (UCB) held its 513^th Board Meeting, reflecting a significant milestone in the institution’s transformation journey.

During the session, the Board reviewed and approved the audited financial statements for the year ending 2024, along with the unaudited results for Q1 2025, according to a media release. 

In a strategic move demonstrating its commitment to transparency and financial resilience, the Board resolved not to declare dividends for 2024.

Instead, UCB will allocate its entire operating profits toward provisions for non-performing loans (NPLs). This reflects a forward-looking approach centered on long-term value creation, regulatory alignment, and balance sheet integrity, the release says. 

With deposits continuing to grow and market confidence on the rise, the Board also approved a rights share issuance to strengthen the bank’s capital base. This initiative is aimed at supporting asset growth and replacing legacy NPLs with high-quality, performing loans, reinforcing UCB’s position in the banking sector.

Acknowledging that recovery will require time, the Board reiterated its commitment to a disciplined and transparent roadmap, the release adds.