United Bank for Africa Plc (UBA) is a multinational pan-African financial services group headquartered in Lagos Island, Lagos and known as Africa's Global Bank. It has subsidiaries in 20 African countries and offices in London, Paris and New York. In December 2021, UBA received its banking license to commence operations in the UAE. It is listed as commercial bank by the Central Bank of Nigeria. The shares of stock of the group are listed on the Nigerian Stock Exchange, where they trade under the symbol: UBA. The Group Chairman of the bank is Emmanuel N. Nnorom and the GMD/CEO is Oliver Alawuba.

Current executives The table below shows the current Group Board of United Bank for Africa: +United Bank for Africa Group BoardS/NName of executiveTitle/designation1Emmanuel N. Nnorom Group Chairman2Oliver AlawubaGroup Managing Director/CEO3Chukwuma NwekeGroup Deputy Managing Director4Billi OdumGroup Company Secretary5Ugochukwu NwagodohExecutive Director, Finance and Risk Management6Aisha Hassan-Baba OONNon-Executive Director7Caroline AnyanwuNon-Executive Director8Erelu Angela AdebayoNon-Executive Director9Henrietta UgbohIndependent Non-Executive Director 10Angela AnekeIndependent Non-Executive Director11Alhaji Abdulqadir J. Bello (FCA)Independent Non-Executive Director

Overview United Bank For Africa is a large financial services group in Nigeria and on the African continent. As of September 2024, the group's financial assets were valued at ₦31.801 trillion (US$18.9 billion), with shareholders' equity of ₦3.585 trillion (US$2.0 billion). At that time the group employed in excess of 25,000 staff worldwide and its customer base exceeded 45 million accounts. The group maintains 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, Mali, the United States of America, the United Kingdom, France, and United Arab Emirates. In November 2024, with worldwide staff numbering in excess of 25,000, the group opened full banking operations in France. At that time its global customer base exceeded 45 million accounts.

History The British and French Bank Limited (BFB) commenced business in Nigeria in 1948. BFB was a subsidiary of Banque nationale pour le commerce et l'industrie (BNCI) in Paris, which transformed its London branch into BFB as a separate subsidiary. Banque Nationale de Credit and two British investment firms, S.G. Warburg and Company and Robert Benson and Company, held shares in BFB.

Following Nigeria's independence from Britain, UBA was incorporated on 23 February 1961 to take over the business of BFB.

In 1970, UBA listed its shares on the Nigerian Stock Exchange and became the first Nigerian Bank to undertake an Initial Public Offering (IPO).

The present-day UBA was established on 1 August 2005 through the merger of Standard Trust Bank, which had been incorporated in 1990, and the original United Bank for Africa, one of Nigeria's largest and oldest banks. The transaction was one of the largest mergers to have been completed on the Nigerian Stock Exchange (NSE).

Following the merger, UBA further expanded its brand through acquiring Continental Trust Bank that same year. In 2006, UBA acquired Trade Bank, which was under liquidation by the Central Bank of Nigeria at the time.

UBA had another successful combined public offering rights issue in 2007 and made further acquisitions of three liquidated banks: City Express Bank, Metropolitan Bank, and African Express Bank. UBA also acquired Afrinvest UK, rebranding it UBA Capital, UK. The quest to build a strong domestic and African brand intensified in 2008 when UBA made further acquisitions of two liquidated banks: Gulf Bank and Liberty Bank.

UBA has a broad footprint across Africa and the world. It maintains subsidiaries in the following countries*, listed in the order of their commencement of banking operations: +Order of UBA's Commencement of Banking Operations by CountryCommencement of Banking OperationsCountries1948Nigeria1984United States2005Ghana2007Cameroon2008Burkina Faso, Chad, Côte d'Ivoire, Liberia, Senegal, Sierra Leone, Uganda2009Gabon, Kenya, Tanzania2010Guinea, Mozambique, Zambia2011Congo Brazzaville, Democratic Republic of the Congo2012Benin2018United Kingdom2019Mali2022Dubai *UBA maintains a representative office in Paris, France.

Subsidiaries The table below illustrates the locations and Group shareholding in the subsidiary banks of the UBA Group Plc.

+ List of UBA Group Subsidiary Banks Rank Country Subsidiary Shareholding 1 United States UBA America 2 United Kingdom UBA United Kingdom Limited 3 France UBA France S.A. 4 Nigeria UBA Nigeria Limited 5 Benin UBA Benin 6 Burkina Faso UBA Burkina Faso 7 Cameroon UBA Cameroon S.A. 8 Chad UBA Chad S.A 9 Republic of the Congo UBA Congo Brazzaville 10 Democratic Republic of the Congo UBA Congo DRC 11 Ivory Coast UBA Côte d'Ivoire 12 Gabon UBA Gabon S.A. 14 Republic of Guinea UBA Guinea Conakry S.A. 15 Kenya UBA Kenya Limited 16 Liberia UBA Liberia Limited 17 Mali UBA Mali 18 Mozambique UBA Mozambique 19 Senegal UBA Senegal S.A. 20 Sierra Leone UBA Sierra Leone Limited 21 Tanzania UBA Tanzania 22 Uganda UBA Uganda Limited 23 Zambia UBA Zambia Limited 24 United Arab Emirates United Bank for Africa plc (DIFC Branch)

Awards

Bank of the Year Africa in 2025 at The Bankers Awards by The Banker Magazine. Best SME bank in Africa 2024, by Global Finance Magazine. Winner, Best Regional Bank in West Africa for the year 2024 by the African Bank Awards. Bank of the Year Africa in 2023 at The Bankers Awards 2023, by The Banker Magazine – a publication of Financial Times of London. World's Best Frontier Markets Bank in 2024 by Global Finance.

References

External links

BSL-Finance United Bank for Africa Profile