United Bank for Africa – Reviews and Ratings

4

Full Review

United Bank for Africa Plc. (UBA) is one of Africa’s global banks with a uniquely scaled platform. Strong retail franchise reaching over 7 million customers, over 750 business offices, in 19 countries in Africa including Nigeria plus New York, London and Paris.

UBA is a large financial services provider in Nigeria with subsidiaries in 20 sub-Saharan countries, with representative offices in France, the United Kingdom and the United States.

As of December 2011, the valuation of UBA Group’s total assets was approximately US$12.3 billion (NGN 1.94 trillion), with shareholders’ equity of about US$1.07 billion (NGN 170 billion).

Today’s United Bank for Africa Plc (UBA) is the product of the merger of Nigeria’s third (3rd) and fifth (5th) largest banks, namely the old UBA and the erstwhile Standard Trust Bank Plc (STB) respectively, and a subsequent acquisition of the erstwhile Continental Trust Bank Limited (CTB). The union emerged as the first successful corporate combination in the history of Nigerian banking.

UBA is listed on the Nigerian Stock Exchange, where it is publicly traded under the symbol UBA.

United Bank for Africa became the first bank in Nigeria to institute a foundation, UBA Foundation. Funded with 1% of PBT, UBA Foundation is committed to the socio-economic betterment of the communities in which the bank operates, focusing on development in the areas of Environment, Education, Economic Empowerment and Special projects (“EEES”).

Quick Review

Industry:             Financial Services, Banking, Investment Services

Founded:            1949

Headquarters:  UBA House, 57 Marina, P.O. Box 2406, Lagos Nigeria

Products:            Internet banking U-Direct, Mobile banking U-Mobile, Wholesale Banking, Corporate banking, Investment Banking, Consumer Banking, Money Transfer, Debit Cards, Collections, Treasury, Trade, Savings Accounts, Current Accounts, Domiciliary Accounts

Assets:                  US$12.3 billion (NGN 1.94 trillion) with equity of about US$1.07 billion (NGN:170 billion).

Website:              www.ubagroup.com

Customers:        7,000,000 (overall)

Offices:                750

Subsidiaries:      20 sub-Saharan countries

 

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Categories: Bank Reviews