He made these remarks during the bank’s anniversary launch in Lagos, Nigeria. This announcement comes after the bank recently announced 237% growth in its share price for the 2023 year, making it UBA’s highest earnings and also one of the highest in the banking sector for 2023.

Mr. Alawuba said that “UBA operates across 24 countries with opportunities to connect Africa to the world. Cross-border diversification is good for earnings growth in spite of one-time FX windfall.” “We will continue to see significant valuation growth,” he added.

United Bank for Africa (UBA) is one of Nigeria’s oldest banks and the first to list on the NGX in 1978.

UBA was the first bank to offer an IPO in Nigeria in 1970 and the first to be listed on the Nigerian Stock Exchange. It was also the only bank in Sub-Saharan Africa with a deposit-taking license in the USA, the first bank in Nigeria to install an ATM, and the first to open a campus branch. It was the first to open a subsidiary in Africa, that is, UBA Ghana, and the first bank to have a female chairperson in Nigeria.

Mobile banking was first introduced by UBA in Nigeria, and they deployed the first chatbot in the country. Some 33% of CEOs in UBA’s 20 African countries of operation are also women.

The Group Deputy Managing Director, Muyiwa Akinyemi, emphasised the bank’s commitment to innovation and digital transformation in enhancing the experience of their customers.

“Additionally, our intentional commitment is to global sustainability principles and corporate social responsibility with significant impact across Africa through initiatives in education, healthcare, and environmental sustainability,” Mr. Akinyemi said.