United Bank for Africa (UBA)
One of the Nigerian banks with branches in the United States is the United Bank for Africa.
United Bank for Africa Plc (UBA) is a group of Nigerian pan-African businesses that offer financial services. The headquarters of the United Bank for Africa is in Lagos State, Nigeria.
UBA has subsidiaries in 20 African countries and has branch offices in London, Paris, and New York. UBA is listed as a commercial bank in Nigeria by the Central Bank of Nigeria.
UBA is a huge giant in the financial world that has made a large footprint worldwide. The UBA Group has over 20,000 employees working in 23 countries and currently operates in 20 African countries, which are:
Republique du Benin, Burkina Faso, Cameroun, Congo Brazzaville, Congo DRC, Cote d’Ivoire, Gabon, Ghana, Guinea, Kenya, Liberia, Mali, Mozambique, Nigeria, Senegal, Sierra Leone, Tanzania, Tchad, Uganda, and Zambia. UBA also has a branch in the United Kingdom, the United States of America, France, and Paris.
UBA has been in operation for more than seven decades. UBA provides financial services to small businesses, corporations, governments, institutions, and individuals worldwide.
Founding of UBA
In 1948, a business called the British and French Bank Limited (BFB) started business operations in Nigeria. British and French Bank Limited (BFB) was a subsidiary of Banque Nationale de Credit (BNCI) based in Paris. The business transformed its London branch into a separate subsidiary called the British and French Bank. The bank held shares by Banque Nationale de Credit and two other British investment firms: S.G. Warburg and Company and Robert Benson and Company.
Following Nigeria’s independence from Britain in 1960, UBA was incorporated on the 23rd of February 1961 to take over the British and French Bank Limited (BFB). UBA eventually listed its shares on the Nigerian Stock Exchange (NSE)
Initial Public Offering (IPO)
In 1970, UBA eventually listed its shares on the Nigerian Stock Exchange. It thus became the first Nigerian Bank to undertake an Initial Public Offering (IPO).
Over the years, UBA has grown to become one of the largest financial services groups on the African continent. The services offered by UBA include corporate, commercial, SME, consumer, and personal (retail) banking services. UBA has Customers of over 18 million people. UBA serves its customers through diverse channels; these are physical business offices, customer touchpoints (Automated Teller Machines and Point of Sales’ systems), online banking and mobile banking platforms, and social media. Additionally, UBA offers pension custody and related services. UBA also has proven expertise in investment in key sectors of economies across Africa, such as the Oil and Gas sector, Infrastructure, Finance, Agriculture, and Commodity/Export.
UBA has successfully operated in Africa and has become the preferred partner for businesses and corporations who wish to work in Africa.
Awards won by the United Bank for Africa
Best Commercial Bank Website (2020)
Sponsored Company: Philips Consulting
Recipient: UBA Group
Best CSR Company in support of Education (2019)
Sponsored Company: Brand Journalists’
UBA USA commenced operations in New York City in 1982. The branch began as a Representative Office. The bank subsequently obtained a banking license in 1984 and was able to operate a Federal Branch. The parent company of United Bank for Africa (USA) is United Bank for Africa Plc in Nigeria, which is incorporated in Nigeria and quoted on the Nigerian Stock Exchange.
United Bank for Africa is one of the largest and most prominent banks in Africa.
UBA is the only Sub-Saharan African bank with an operating banking license in the United States; this has made them the preferred financial intermediary for business flows between Africa and North America.
The aim of UBA (USA) is to grow the bank’s franchise in the United States. The bank continues to ensure its business is conducted safely and soundly while strengthening risk management, governance, and operational processes.
Services offered by UBA USA include:
Strategic advisory and research
Trade and Treasury products
The UBA logo is simple yet distinctive and elegant. There is a mustard seed that stands for the legacy of Standard Trust Bank. The UBA logo has two colors, red and white.
The white color stands for purity, brightness, and clarity of focus. It also speaks of the bank’s integrity and professionalism.
The mustard seed stands for fertility and sustained growth. It also connotes deep personal relationships that the bank hopes to spur based on the spirit of selflessness and mutualism.
Over the years, UBA has strived to distinguish itself in the marketplace by providing innovative first-class products with superior customer service.
UBA continues to be renowned for its international reputation for excellence. It continues to maintain its core values, which are Enterprise, Excellence, and Execution.
The management team and staff members at UBA are made up of experienced industry-recognized professionals who have diverse skills and experiences in various backgrounds. These put their knowledge, experience, and leadership to work, so the bank can develop and deliver solutions to meet its customers’ needs.
Despite the years, the bank continues to aim towards being is to be the leading financial services institution in Africa. Its mottos include:
- Placing the customer first always
- Working with motivated and productive people
- Consistently creating value for all our stakeholders
UBA continues to be a leading bank in Africa and works hard to remain relevant in a fast and changing world. UBA seems to be here for the long haul and would be a bank for both the young and old alike.
Location of United Bank for Africa (USA)
Number 1 Rockefeller Plaza (8th Floor) New York, NY10020