Victor EzejaAs the United Bank for Africa (UBA) marks its 75th anniversary this year the pan-African bank has taken an introspection into the remarkable milestones in its transformative journey and looks forward to becoming a role model to African businesses.
The bank which began operations in 1949 as British & French Bank (BFB) and was later incorporated in 1961, has undergone several changes and expansion in terms of increasing subsidiaries across Africa, branches, larger customer base and embracing innovations that enhances financial transactions and customer experience.
Speaking at a global press conference on Monday in Lagos, as part of activities lined up to mark the bank’s 75th anniversary, the Group Managing Director, UBA, Oliver Alawuba, said it is “not just a celebration of longevity, but a testament to resilience, innovation, and unwavering commitment to excellence that have defined UBA’s journey over the decades.”
Alawuba noted that UBA has evolved from a modest beginning in Lagos Island to a global financial institution with a presence in 20 African countries and four global financial nerve centres (New York, London, Paris and Dubai).
”Today we have 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.
“The past 75 years have been marked by stability and excellence, pillars upon which UBA’s legacy stands tall,” Alawuba said.
He appreciated all staff, both present and former, who have served in the bank at various capacities in all subsidiaries around the world.
He emphasised that they present the past and present leaders, they look forward to having futures ones that would take the bank to the next level.
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The GMD paid special tribute to the UBA group chairman, Tony Elumelu, for his visionary push that saw the company grow through the years to where it is today.
UBAs’ 10 ‘Firsts’
Alawuba listed what he termed as UBA’s “10 firsts”, in other words, 10 things that the pan-African bank takes pride in being the first to begin.
They include
- UBA was the first Bank in Nigeria to offer an Initial Public Offering (IPO) in 1970;
- UBA was the first in Nigeria banking industry to be Listed on the Nigerian bank to be listed on the Nigerian Stock Exchange (NSE);
- It was the first Nigerian Bank to open a branch in the USA and London;
- The first bank in Nigeria to install Automated Teller Machines (ATMs);
- The first to open a campus branch at the University of Lagos in Nigeria;
- The first Nigerian Bank to open a subsidiary in Africa (Ghana in 2005);
- The bank to appoint first Female Board Chairperson in Nigeria
- The first to introduce Mobile Banking in Nigeria;
- UBA launched the first Multi-lingual Chatbot Banking in Nigeria;
- UBA was also the first Nigerian Bank to launch the most successful Prepaid Cards across Africa.
Alawuba further stated that despite the global economic downturn, UBA has demonstrated remarkable financial strength and resilience as indicated in its 2023 financial year report.
Our splendid performance, especially within the last year, is a testament to our robust fundamentals and sound strategic decisions,” he stated.
The UBA GMD added that while the bank navigates the dynamic global financial landscape, it remains committed to creating value for shareholders while capitalizing on emerging opportunities in the market.
He also highlighted UBA’s exploit efforts in innovation and digital transformation as part of 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.”
UBA CSR
The GMD noted that the bank also has a strong commitment to Corporate Social Responsibility (CSR) with initiatives focused on education, healthcare, entrepreneurship, and environmental sustainability that have been making significant impact on communities across Africa.
Looking ahead, Alawuba said the vision of the bank is 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.”
Speaking earlier in his welcome address, the deputy managing director, Muyiwa Akinyemi, said UBA has remained an attractive investment opportunity “as it continues to deliver exceptional value to our shareholders.”
He added that the bank is committed to offering value that enhances the experience of their customers.
Victor Ezeja is a passionate journalist with six years of experience writing on economy, politics and energy. He holds a Masters degree in Mass Communication.
