UBA Set to Extend Operations to 25 Countries

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United Bank for Africa, UBA, plans to increase its presence in Africa by expanding operations to 25 countries from the present 18.

The bank’s Group Chairman, Tony Elumelu, who spoke on Tuesday, May 3, said the outcome of the first meeting of Senior Leadership of the Group in Lagos, which brought together 90 participants, including the entire Board of the bank, chairmen and all the CEOs of UBA subsidiaries across Africa and the United Kingdom, said the Group has made impressive growth in its 11 years of operation in the Africa region.

”We are one bank, the United Bank for Africa,” Elumelu said as he opened the Forum.

He added that bringing together the senior leadership talent from across the continent and the distinguished leaders who chair the subsidiary businesses is a powerful demonstration of the Group’s commitment to forge one bank for Africa.

He said UBA subsidiaries operate in 18 African countries and now contribute more than 25 per cent to the Group’s operating revenue, adding that the bank, beyond being recognised as a strong pan-African brand, is also hailed for democratising banking in its countries of operation whilst participating in landmark financial transactions.

He said: “As long-term investors and pioneers in pan-African commercial and investment banking, we are deeply committed to the markets in which we operate and to harnessing the potential represented by the wider African economy; our intention is to be the leader in African financial services, and our recent transactions showed this.”

 

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