United Bank for Africa Selects SunGard BancWare for Integrated Balance Sheet and Data Management

London, UK – 1 February 2007

SunGard today announced that United Bank for Africa (UBA) Plc, the sixth largest African bank outside South Africa, has selected SunGard's BancWare for asset/liability management (ALM) and integrated data management.

Based in Lagos, Nigeria, with subsidiaries in Ghana, New York and the Cayman Islands, UBA Plc will use SunGard for complete multi-dimensional analysis of the group balance sheet. This will incorporate interest, liquidity, market and foreign exchange rate risk, income simulation and market valuation, using deterministic and stochastic modeling. The volatile nature of the Nigerian market calls for a greater need to effectively manage the risks associated with fluctuations in interest and foreign exchange rates. Increasingly, Nigerian banks are becoming aware of the need to develop sound asset/liability management practices. Following a wave of consolidation in the market which has resulted in a greater need to differentiate itself, UBA is dedicated to adopting best practice risk management techniques in order to support rapid growth and maintain a competitive market position. UBA Plc will be able to maximize return on assets, reduce cost of funds, meet capital adequacy requirements, enhance liquidity and improve its risk management practices.

The bank has also selected SunGard’s solution for data management. BancWare Data Integration will be used to extract, cleanse and sort data, which will then be fed into the ALM solution. Efficient data management is fundamental to the bank and is of particular importance to African banks due to the general lack of clean, reliable data. The ability to access error logs and exception reports, and to apply rigorous checks is crucial to producing uniform and validated results. Having confidence in these results will then enable the bank to carry out sophisticated financial analysis, providing the information on which to base important strategic decisions.

Gabriel Edgal, group treasurer, UBA Plc, said, “We chose BancWare because we value the strength of a company like SunGard and the professional approach of its staff. Of the solutions we considered, the functionality of BancWare was best suited to our needs, and its proven ability to deliver world class analytics, coupled with the tightly integrated data management solution was key. The product strategy and commitment to future development of the software was also a differentiating factor.”

Andreas Hug, managing director, BancWare EMEA, said, "With the addition of UBA to our existing African client-base, we are delighted to see a growing number of banks in the region choosing to implement our solutions. BancWare has extensive, preconfigured models that our customers can use across their entire organizations, at the same time allowing subsidiaries elsewhere to develop new models and analytical tools according to their specific requirements. In this case UBA will perform branch level analysis to satisfy local regulatory reporting requirements in New York and Ghana as well as at group level across from the Head Office in Lagos.”

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