By Obiabin Onukwugha
The United Bank for Africa, (UBA), has stated that it will continue to invest in innovative products and digital platforms that enhance customer experience and drive operational efficiency.
The bank also said it is committed to expanding its presence, seize growth opportunities, and deliver value to all stakeholders.
The Group Managing Director of UBA, Oliver Alawuba, stated this at a World Press Conference to mark the bank’s 75th anniversary in Lagos, Nigeria on Monday.
Alawuba noted that since its inception in 1949, UBA has evolved from a modest beginning in Lagos Island to a global financial institution with a presence in 20 African countries and 4 global financial nerve centres (New York, London, Paris and Dubai).
He pointed out that the bank boasts of over 25,000 Staff, over 35 million customers served through multiple channels – over 350,000 POS terminals, 2,000 ATM terminals, 1,000 Business Offices and 19.7 million Card Customers.
“Amidst economic challenges and market dynamics, UBA has demonstrated remarkable financial strength and resilience. Our splendid performance, especially within the last year, is a testament to our robust fundamentals and sound strategic decisions. As we navigate through the ever-changing landscape, we remain committed to creating value for our shareholders and capitalizing on emerging opportunities in the market.
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“Innovation and digital transformation are at the heart of UBA’s strategy for future growth and competitiveness. We will continue to invest in innovative products, services, and digital platforms that enhance customer experience and drive operational efficiency. Our commitment to Corporate Social Responsibility is strong, with initiatives focused on education, healthcare, entrepreneurship, and environmental sustainability; thus, making a concrete impact on communities across Africa.
“Looking ahead, our vision is clear – to be the role model for African Businesses. UBA is one bank, uniting Africa while connecting Africans to the World and the World to Africa. Our primary focus is to be the payment bank for Capital flows, trade and investments between Africa and the rest of the world.
“We are committed to expanding our presence, seizing growth opportunities, and delivering value to all stakeholders. Collaboration and partnerships as exemplified by the $6bn SME funding agreement signed with the African Free Trade Area (AfCFTA) will be instrumental in achieving our strategic objectives. We are dedicated to deepening relationships with customers, employees, regulators, and other stakeholders for mutual benefit and long-term success,” he said.
The GMD took out time to appreciate all the past and present Leadership of UBA, and well its customers, which he posited, contributed immensely to the success story of the bank.
Alawuba, particularly appreciated the Group Chairman, Tony Elumelu, whom he said his visionary push in 2005 and tutelage over the years, helped brought the bank to where it is today.
He added that UBA was the first to introduce innovative banking in Nigeria and as as well the first Nigerian bank with global presence and aldo the first to be listed on the Nigerian stock exchange.
“UBA was the first Bank in Nigeria to offer an Initial Public Offering (IPO) in 1970. The first in Nigeria banking industry to be Listed on the NSE: UBA was the first Nigerian bank to be listed on the Nigerian Stock Exchange (NSE). The first Nigerian Bank in the USA and London: UBA was the first Nigerian bank to open a branch in the USA and London.” he stated.
