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Africa’s Global Bank, United Bank for Africa (UBA) Plc, has launched its 75th anniversary as a leading banking services provider in Africa and beyond, at its headquarters in Lagos, Nigeria. This celebration is running concurrently with UBA Ghana’s 20th anniversary since its merger with Standard Trust Bank in 2005, as its first subsidiary outside Nigeria.
Speaking to the press at the launch, Group Managing Director and Chief Executive Officer (CEO), Mr. Oliver Alawuba disclosed that the bank was the first in Nigeria to list on the Nigerian Stock Exchange and the only African bank in sub-Saharan Africa with a deposit-taking license in the United States of America. He said that the bank had also partnered with other institutions, such as the African Continental Free Trade Area (AfCFTA) Secretariat, to provide US$6 billion for small and medium enterprises (SME) funding in Africa, with Ghana set to receive about US$300,000 for its SMEs.
The group's MD/CEO emphasised that the bank would continue to invest heavily in innovation and digital transformation to drive growth and enhance customer experience. He also noted their commitment to education, healthcare, entrepreneurship, and environmental sustainability.
“Our primary focus is to be the payment bank for capital flow, trade, and investment between Africa and the rest of the world.”
Praising the bank for its achievements over the years, Mr. Alawuba noted that UBA had evolved into a global financial institution with presence in 20 African countries and four global financial centres in New York, London, Paris and Dubai. It also boasts of over 25,000 staff, 35 million customers, and over 250,000 Point of Sale (PoS) terminals, among others.
He commended the past and present staff of the bank for their dedicated service over the years.
Mr. Muyiwa Akinyemi, the Group Deputy Managing Director for UBA Africa, said that over the past 75 years, the bank has been noted for its reliability, stability, and excellence in banking, which has led to the achievement of numerous milestones. He again described their commitment to exceptional customer experience, financial strength, and resilience as keys to their success.
“We are committed to offering value that enhances the experiences of customers at every contact point,” Mr. Akinyemi said.
UBA showed exceptional and impressive performance across all its major indicators for the 2023 year, with profits hitting US1.06 billion and gross earnings rising by 143 percent Year on Year. The Group MD also noted the possibility of the bank’s share price hitting N100.
