United Bank for Africa Plc (UBA) is known as “Africa’s Global Bank.” It is a multinational, pan-African financial services group with its headquarters in Lagos.

The group’s shares of stock are traded on the Nigerian Stock Exchange under the symbol “UBA.” Tony Elumelu is the Group Chairman of the bank, and Oliver Alawuba is the GMD/CEO.

Who Is The Owner Of Uba Bank

As a member of the National Youth Service Corps in 1985, Elumelu worked at the Nigerian Bank Union Bank. This was before he became a salesman. Elumelu joined Allstates Trust Bank after that. in 2005. After that, United Bank for Africa (UBA) was bought.

Tony Elumelu Said;

I started out as a salesman, specifically a copier salesman. I was young, hungry, and willing to work hard, but the truth was that I was just one of thousands of eager young Nigerian graduates.

In 1997, Elumelu led a small group of investors to take over Crystal Bank, which was having trouble (later renamed Standard Trust Bank).

After a few years, he made it profitable, and in 2005, he led one of the biggest bank mergers in Sub-Saharan Africa when he bought United Bank for Africa (UBA).

How It Started

After Standard Trust Bank and United Bank for Africa merged in 2005, Elumelu took over as Group Managing Director and turned the company from a single-country banking group into a pan-African bank with branches in 20 African countries, France, the U.S., and the U.K. He left the company in 2010. Elumelu is the leader of the United Bank for Africa’s board of directors right now.

History of UBA Bank

In 1948, the British and French Bank Limited (BFB) got its start in Nigeria. BFB was a branch of the Paris-based Banque nationale pour le commerce et l’industrie (BNCI), which made BFB out of its London branch.

BFB was owned by Banque Nationale de Credit, S.G. Warburg and Company, and Robert Benson and Company, two British investment firms. Nigeria got its freedom from Britain on February 1, 1960.

On February 23, 1961, UBA was formed to take over the business of BFB. In 1970, UBA became the first Nigerian bank to do an Initial Public Offering by putting its shares on the Nigerian Stock Exchange (IPO). ^[1]

List of UBA Executives

UBA Has 8 number of high ranking executives and 8 number of low ranking executives, see list below.

S/N	Names	Ranks
1	Tony O. Elumelu, C.O.N.	Chairman
2	Amb Joseph C. Keshi O.O.N	Vice Chairman
3	Oliver Alawuba	Group Managing Director/CEO
4	Muyiwa Akinyemi	Deputy Managing Director
5	Alex Alozie	Executive Director, Group Chief Operating Officer
6	Ugochukwu Nwagodoh	Executive Director, Finance and Risk Management
7	Emem Usoro	Executive Director, North Bank, Nigeria
8	Sola Yomi-Ajayi	Executive Director, Treasury & International Banking
9	Isaac Olukayode Fasola	Non-Executive Director
10	Owanari Duke	Non-Executive Director
11	Samuel Oni, FCA	Non-Executive Director
12	Erelu Angela Adebayo	Non-Executive Director
13	Alhaji Abdulqadir Jeli Bello	Non-Executive Director
14	Angela Aneke	Non-Executive Director
15	Aisha Hassan Baba, OON	Non-Executive Director
16	Caroline Anyanwu	Non-Executive Director

The Standard Trust Bank, which was founded in 1990 and has been growing quickly, and UBA, which is one of the largest and oldest banks in Nigeria, merged to form UBA today. The merger was finalized on August 1, 2005, and it was one of the biggest mergers ever done on the Nigerian Stock Exchange (NSE).

After the merger, UBA bought Continental Trust Bank the same year to grow its brand even more. In 2006, UBA bought Trade Bank, which was being closed down at the time by the Central Bank of Nigeria.

In 2007, UBA had another successful combined public offering rights issue and bought City Express Bank, Metropolitan Bank, and African Express Bank, which had gone out of business.

Afrinvest UK was also bought by UBA, which changed its name to UBA Capital, UK. In 2008, UBA bought two more closed banks, Gulf Bank and Liberty Bank, as part of its efforts to build a strong brand in Nigeria and Africa.

List of Countries With UBA Bank Branch

It has offices in London, Paris, and New York, as well as in 20 countries in Africa. In December 2021, UBA got its license to start doing business as a bank in the UAE. The Central Bank of Nigeria puts it on its list as a commercial bank.

S/N	Year	Countries
1	1948	Nigeria
2	1984	United States
3	2005	Ghana
4	2007	Cameroon
5	2008	Burkina Faso, Chad, Côte d’Ivoire, Liberia, Senegal, Sierra Leone, Uganda
6	2009	Gabon, Kenya, Tanzania
7	2010	Guinea, Mozambique, Zambia
8	2011	Congo Brazzaville, Democratic Republic of the Congo
9	2012	Benin
10	2018	United Kingdom
11	2019	Mali
12	2022	Dubai
13	????	London, Paris, and New York

UBA Net Worth

United Bank For Africa is a large group that offers financial services in Nigeria and across Africa. As of December 2021, the group’s financial assets were worth 8.5 trillion (US$20.1 billion), and the shareholders’ equity was worth 724.1 billion (US$1.8 billion). At that time, more than 20,000 people worked for the group.

The group has 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, USA, UK, France, and UAE.

References

1. WIkipedia[↩]

All our findings and information's regarding this article, were sourced from the above references. If you find any false information on this article, do not hesitate to inform us in the comment section below.