United Bank for Africa

United Bank for Africa Plc (UBA), is a Nigerian pan-African financial services group headquartered in Lagos. It has subsidiaries in 20 African countries and offices in London, Paris and New York. It is listed as commercial bank by the Central Bank of Nigeria.[3] The shares of stock of the group are listed on the Nigerian Stock Exchange, where they trade under the symbol: UBA.[4]

United Bank for Africa

Type	Public: NSE:UBA
Industry	Financial Services, Banking, Investment Services
Founded	1949 (1949)
Headquarters	UBA House, 57 Marina, Lagos, Lagos State, Nigeria
Areas served	Africa, Europe, United States
Key people	Tony Elumelu[1] Group Chairman Kennedy Uzoka Group Managing Director & Group CEO[2]
Products	Internet banking Mobile banking Wholesale Banking Corporate banking Investment Banking Consumer Banking Collections Treasury Trade finance Savings Accounts Current Accounts Domiciliary Accounts Non-Resident African Banking Money Transfer Debit Cards
Revenue	Aftertax:NGN:89.09 billion (US$232 million) (2019)
Total assets	NGN:5,604 billion (US$14.6 billion) (2019)
Number of employees	13,355 (2019)
Website	Website

Overview

United Bank For Africa is a large financial services group in Nigeria and on the African continent. As of December 2019, the group's financial assets were valued at NGN:5,604 billion (US$14.6 billion), with shareholders' equity of NGN:597.97 billion (US$1.56 billion). At that time the group employed 13,355 people, of whom 9,787 were Nigerians.[5] The group maintains banking subsidiaries in Nigeria, Ghana, Benin, Ivory Coast, Burkina Faso, Guinea, Chad, Cameroon, Kenya, Gabon, Tanzania, Zambia, Uganda, Liberia, Sierra-Leone, Mozambique, Senegal, DR Congo, Congo Brazzaville and Mali.[6]

History

The bank was established in 1949, as the British and French Bank Limited (BFB). On 23 February 1961, UBA was incorporated as a limited liability company under the Compliance Ordinance (Cap 37) 1922. UBA took over the assets and liabilities of BFB. In 1970 UBA listed its shares on the Nigerian Stock Exchange in an IPO, being the first Nigerian bank to make an Initial Public Offering. In 2005 UBA merged with Standard Trust Bank (STB) Plc, a Nigerian institution which had a subsidiary in Ghana. The merged bank maintained the name United Bank for Africa.[7]

Since then, the group has expanded to include 20 sub-Saharan countries, as well as offices in the United Kingdom, France and the United States.[6]

Subsidiaries

United Bank for Africa in Ghana

The table below illustrates the locations and Group shareholding in the subsidiary banks of the UBA Group Plc.[5][6]

List of UBA Group Subsidiary Banks

Rank	Country	Subsidiary	Shareholding
1	United States	UBA New York Inc.	100
2	United Kingdom	UBA United Kingdom Limited	100
3	France	UBA France S.A.	100
4	Nigeria	UBA Nigeria Limited	100
5	Benin	UBA Benin	84
6	Burkina Faso	UBA Burkina Faso	64
7	Cameroon	UBA Cameroon S.A.	100
8	Chad	UBA Chad S.A	89
9	Republic of the Congo	UBA Congo Brazzaville	100
10	Democratic Republic of the Congo	UBA Congo DRC	100
11	Ivory Coast	UBA Côte d'Ivoire	100
12	Gabon	UBA Gabon S.A.	100
13	Ghana	UBA Ghana Limited	91
14	Republic of Guinea	UBA Guinea Conakry S.A.	100
15	Kenya	UBA Kenya Limited	81
16	Liberia	UBA Liberia Limited	100
17	Mali	UBA Mali	100
18	Mozambique	UBA Mozambique	96
19	Senegal	UBA Senegal S.A.	86
20	Sierra Leone	UBA Sierra Leone Limited	100
21	Tanzania	UBA Tanzania	82
22	Uganda	UBA Uganda Limited	69
23	Zambia	UBA Zambia Limited	100

References

1. Lara Adejoro (26 August 2014). "UBA Appoints Elumelu As Chairman" (Archived from the original on 3 September 2014). Daily Times (Nigeria). Lagos, Nigeria. Retrieved 2 July 2020.
2. World Economic Forum (July 2020). "Kennedy Uzoka: Group Managing Director and Chief Executive Officer, United Bank for Africa Plc". Cologny, Switzerland: World Economic Forum. Retrieved 2 July 2020.
3. Central Bank of Nigeria (2 July 2020). "List of Licensed Financial Institutions: Commercial Banks". Abuja: Central Bank of Nigeria. Retrieved 2 July 2020.
4. African Markets (2019). "United Bank For Africa Plc, Listed On Nigerian Stock Exchange". African-markets.com. Retrieved 2 July 2020.
5. United Bank For Africa (27 January 2020). "UBA Plc Annual Report For The Period Ended 31 December 2019" (PDF). Lagos, Nigeria: United Bank For Africa. Retrieved 2 July 2020.
6. United Bank For Africa (2 July 2020). "UBA Plc Service Area" (Powerpoint Presentation). Lagos, Nigeria: United Bank For Africa. Retrieved 2 July 2020.
7. Solomon Elusoji (15 December 2017). "Bank Of The Year". This Day Nigeria. Lagos. Retrieved 2 July 2020.

External links

• BSL-Finance United Bank for Africa Profile