The Chief Executive Officer and Group Managing Director of UBA, Oliver Alawuba, has said that investing in the bank is tantamount to investing in 24 countries.
According to him, the UBA has evolved from a modest beginning in Lagos Island to a global financial institution with a presence in 20 African countries and four global financial nerve centres located in New York, London, Paris and Dubai.
The bank began operations in 1949 on Kakawa St, Lagos Island as the British & French Bank.
Addressing a global media conference to herald the bank’s 75th anniversary in Lagos on Monday, Alawuba said, “Today we have over 25,000 Staff, over 35 million customers served through multiple channels – over 350,000 POS terminals, 2,000 ATM terminals, 1,000 Business Offices and 19.7 million Card Customers,” adding that the past 75 years have been marked by stability and excellence, the pillars upon which UBA’s legacy stands tall.
He explained that the bank’s commitment to expansion and seizing growth opportunities is reflected in its $6bn SME funding agreement signed with the African Free Trade Area (AfCFTA). The fund is aimed at deepening relationships with customers, employees, regulators, and other stakeholders for mutual benefit and long-term success.
“This milestone is not just a celebration of longevity, but a testament to resilience, innovation, and unwavering commitment to excellence that have defined UBA’s journey over the decades.”
He acknowledged all the bank’s former Chairmen of Group and Subsidiary Boards, Board Members, Group and Subsidiary MD/CEOs, as well as staff in various capacities over the years, and particularly lauded its current Group Chairman, Board Members, Executive Management and staff across all our subsidiaries.
“Without your sacrifices, contributions, support, and guidance over the years, we would not be where we are today.
“We appreciate and honour you because you built and nurtured the platform on which we are standing today.
“Our Group Chairman (Mr. Tony Elumelu, CFR) truly deserves special recognition and mention. Without his visionary push in 2005 and tutelage over the years, I doubt whether we would be where we are today. ”
Listing UBA’s achievements, he said it was the first Nigerian Bank to offer an Initial Public Offering (IPO) in 1970; the first Nigerian Bank to be Listed on the Nigerian Stock Exchange (NSE); the first Nigerian Bank to open a branch in the USA and London; the first Nigerian Bank to install Automated Teller Machines (ATMs); the first Nigerian Bank to open a campus branch at the University of Lagos; and the first Nigerian Bank to open a subsidiary in Africa (Ghana in 2005).
Other firsts include the first Nigerian Bank to appoint a Female Board Chairperson in Nigeria; the first Nigerian Bank to introduce Mobile Banking; the first Nigerian Bank to launch a Multi-lingual Chatbot: (UBA introduced Leo, the first multi-lingual chatbot in Nigeria); and the first Nigerian Bank to launch the most successful Prepaid Cards across Africa.
Despite economic challenges and market dynamics, he said the UBA has demonstrated remarkable financial strength and resilience. Its splendid performance, especially within the last year, he noted, is a testament to its robust fundamentals and sound strategic decisions.
“As we navigate through the ever-changing landscape, we remain committed to creating value for our shareholders and capitalising on emerging opportunities in the market.
“We will continue to invest in innovative products, services, and digital platforms that enhance customer experience and drive operational efficiency.”
Earlier, the bank’s Deputy Group Managing Director, Muyiwa Akinyemi, said the bank’s financial strength and resilience has been key to its success, even amidst economic challenges.
“Our robust performance, especially in the past year, underscores our sound strategies and operational excellence. UBA remains an attractive investment opportunity – especially going by the significant interest and activities in our share prices in the last couple of months.”
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