- The United Bank for Africa Group plans to open a Saudi Arabia branch and launch other African subsidiaries
- It said it has 25,000 staff and has expanded to 24 countries
- The bank’s planned expansion comes after it signed an agreement to commence full banking operations in France
The United Bank for Africa (UBA) Group has announced plans to open a branch in Saudi Arabia and launch additional African subsidiaries in 2025.
UBA’s Group Managing Director and Chief Executive Officer, Oliver Alawuba, stated this during a send-forth dinner held in Abuja on Wednesday night in honour of the bank’s retired non-executive directors.
Alawuba said, “Our chairman was in Saudi Arabia recently and announced that UBA will establish its presence there next year.
“We will also launch additional African subsidiaries, ensuring that the bank grows from strength to strength.”
Alawuba also revealed that the bank has 25,000 staff in its employ and serves more than 45 million customers across 24 countries.
He added that the bank’s legacy has been sustained through the collective effort of the staff, especially the retirees and that it will remain for future generations.
He said, “The UBA, which has over 25,000 staff and serves more than 45 million customers across 24 countries, is the legacy you have contributed to. That is the UBA that will continue to thrive for generations.”
Retired staff have been selfless – Elumelu
The Chairman of UBA Group, Tony Elumelu, lauded the dedication and selfless service of the retirees and their families, which he said was instrumental to the company's success.
Elumelu said, “At UBA, we are more than just a bank; we are a family. These individuals have been selfless, ultra-dedicated, and instrumental to the success we have achieved in Nigeria, Africa, and globally. We owe a debt of gratitude to their families for the support they provided.”
UBA Group has been focused on expansion
The UBA Group, one of the many businesses linked to its chairman, Tony Elumelu, has been keen on expanding its tentacles beyond the shores of Nigeria.
Recall that the Group recently signed a business cooperation deal with the French government to commence full banking operations in France.
According to the bank, Elumelu signed the deal with Antoine Armand, the French Finance Minister as part of President Bola Tinubu’s state visit to France in the presence of President Tinubu and French President, Emmanuel Macron.
At the signing ceremony, Elumelu said the partnership is part of the Group’s mission to ensure seamless international banking services for customers across its franchise area.
He said, “This partnership reinforces our commitment to seamless international banking services for our customers, not just across the 11 Francophone African countries we serve, but Africa as a whole; and French and European customers transacting with Africa.
“Expanding into France is a natural progression, with Paris serving as our European Union hub, as we continue to bring Africa and the world together, through innovative financial solutions. Paris will join London, New York, and Dubai, as a critical component of our unique global network.”
Access Bank fully acquires Standard Chartered’s Angola, Sierra Leone subsidiaries
Meanwhile, TheRadar reported that Access Bank, the main subsidiary of Access Holdings Plc, has completed the acquisition of Standard Chartered Bank Angola S.A. and Standard Chartered Bank (Sierra Leone) Limited.
The announcement of the acquisition was published on the Nigerian Exchange (NGX) disclosure page and signed by the company secretary, Sunday Ekwochi, on Wednesday, November 27.
