United Bank for Africa

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United Bank for Africa
Public: NSE:UBA
Industry Financial Services, Banking, Investment Services
Founded 1949
Headquarters UBA House, 57 Marina, P.O. Box 2406, Lagos, Lagos State, Nigeria
Areas served
Worldwide
Key people
Tony Elumelu (C.O.N)[1]
Group Chairman
Kennedy Uzoka
Group Managing Director & Chief Executive Officer
Products Internet banking U-Direct
Mobile banking U-Mobile
Wholesale Banking
Corporate banking
Investment Banking
Consumer Banking
Money Transfer
Debit Cards
Collections
Treasury
Trade
Savings Accounts
Current Accounts
Domiciliary Accounts
Non-Resident African Banking
Website Website

United Bank for Africa (UBA) Plc, is a Nigerian multinational financial institution. It is one of Africa's best and most resilient banking Groups with operations in 19 African countries and offices in three global financial centers: London, Paris and New York.[citation needed]

Overview[edit]

United Bank for Africa (UBA) Plc is one of Africa’s largest financial institutions with operations in 19 African countries and 3 global financial centers; New York, London and Paris. UBA has more than eight million customers and 700 business offices globally.

History[edit]

UBA has been operating in Africa since 1949, referred to then as the British and French Bank Limited (BFB). It took over the assets and liabilities of BFB and was incorporated as a limited liability company on 23 February 1961 under the Compliance Ordinance (Cap 37) 1922.

In 2005, it completed one of the biggest mergers in the history of Nigeria’s capital markets with the business combination with Standard Trust Bank (STB) Plc. From then, it continued to expand to Ghana, Benin Republic, Côte d'Ivoire, Burkina Faso, Guinea, Chad, Cameroon, Kenya, Gabon, Tanzania, Zambia, Uganda, Liberia, Sierra-Leone, Mozambique, Senegal, Congo DR and Congo Brazzaville. UBA is listed on the Nigerian Stock Exchange, where it is publicly traded under the symbol "UBA".

Offshore subsidiaries[edit]

United Bank for Africa in Ghana
United States
  • UBA New York – Regulated by the Office of the Controller of the Currency, is a member of the United States Federal Reserve System. Its balance sheet size is in excess of US$1.3 billion.
United Kingdom
  • UBA United Kingdom
  • UBA Capital Europe – Established as UK regulated investment banking operation in January 2008.
France
  • UBA France
Africa
  • UBA Benin House 23 Avenue Steimetz, Cotonou Benin Republic
  • UBA Burkina Faso
  • UBA Cameroon S.A. – Cameroon represents UBA's first operational base in Central Africa, commencing operations in December 2007.
  • UBA Chad
  • UBA Congo Brazzaville – Started Operations In January 2011.[2]
  • UBA Congo Kinshasa (DRC)[3][4]
  • UBA Côte d'Ivoire – UBA CDI effectively commenced business in June 2008.
  • UBA Gabon
  • UBA Ghana Limited – commenced operations in 2004 and now operates from 16 branches.
  • UBA Guinea
  • UBA Kenya
  • UBA Liberia – It began operations in July 2008.
  • UBA Mali
  • UBA Mozambique
  • UBA Senegal
  • UBA Sierra Leone – Commenced active operations in July 2008 in Sierra Leone.
  • UBA Tanzania
  • UBA Uganda Limited – Represents UBA's pioneer country activities in the Eastern and Southern African sub-regions. It commenced operations in May 2008.
  • UBA Zambia[5][6]

Landmarks[edit]

UBA Firsts
  1. UBA was the first among international banks to be registered under Nigerian Law in 1961.[7]
  2. UBA is the first Nigerian bank to offer an IPO following its listing on the Nigerian Stock Exchange in 1970.[8]
  3. UBA is the first Nigerian Bank to introduce a Cheque Guarantee Scheme – the first cheque guarantee card in the history of innovative banking services by any Bank in Nigeria, known as UBACARD in 1986.[9]
  4. UBA is the first and only Nigerian Bank to obtain a banking license in the Cayman Islands −1988.[10]
  5. First ever and only Nigeria bank to hit the NGN1 trillion balance sheet size (including contingents).[11]
  6. UBA is the first Nigerian bank to embark on a GDR programme in 1990.[12]
  7. UBA is the First bank in Nigeria to institute a foundation – UBA Foundation; the Corporate Social Responsibility arm of the UBA Group.[13]
  8. UBA Introduced First Visa Dual Currency Debit Card in Nigeria.
  9. UBA and MoneyGram open first dedicated MoneyGram location in Nigeria.[14]
  10. Successful underwriting of the first 100 percent local funding of an ExxonMobil/NNPC Joint Venture Project.
  11. UBA launches Nigeria's First Cash Deposit ATMs

References[edit]

  1. ^ UBA Appoints New Chairman Archived September 3, 2014, at the Wayback Machine.
  2. ^ "Thenigeriandaily.com". www.thenigeriandaily.com. 
  3. ^ "Kenya: UBA Commences Operation in Kenya". 13 October 2009 – via AllAfrica. 
  4. ^ "Nigeria: UBA Opens Branch in Democratic Republic of Congo". 27 January 2011 – via AllAfrica. 
  5. ^ "Nigeria: UBA May Merge Zambian Unit With Rivals". 27 April 2012 – via AllAfrica. 
  6. ^ Muyanwa, James (23 July 2012). "Zambia: UBA to Seek Local Banking Licence" – via AllAfrica. 
  7. ^ "UBA". www.gbanking.com. 2006-12-08. Archived from the original on 2012-02-22. Retrieved 2017-12-15. 
  8. ^ "UBA, Nigeria's n°1 Bank launches 54 Billion Naira hybrid offer," Symbiotics, "Archived copy". Archived from the original on January 12, 2008. Retrieved May 22, 2009.  09/03/07
  9. ^ "African Centre for Women Report of the Ad Hoc Expert Group Meeting to consider modalities of setting up an African Bank For Women," United Nations Economic Commission for Africa "Archived copy". Archived from the original on August 10, 2009. Retrieved May 22, 2009.  24/08/94
  10. ^ Sarah Rundell, "Hungry for More Market Share," Africa Investor [1][permanent dead link], 01-03-07
  11. ^ "UBA, Nigeria's No.1 Bank launches 54 Billion Naira hybrid offer," Symbiotics, "Archived copy". Archived from the original on January 12, 2008. Retrieved May 22, 2009. 
  12. ^ Ugonna Maduagufor, "Global Depository Receipts," Stock Market Nigeria [2] 30-06-08
  13. ^ "UBA Group :: CSR :: About UBA Foundation". 2 January 2010. Archived from the original on 2 January 2010. 
  14. ^ Beryl Opondo, "MoneyGram and UBA open first dedicated MoneyGram location in Nigeria," Prudence International Magazine, "Archived copy". Archived from the original on August 11, 2009. Retrieved May 22, 2009. , 23-05-06

External links[edit]