28th February, 2012
To cater for the special needs of womenfolk and in recognition of the key role women play in the society, the pan-African banking and financial services group, United Bank for Africa (UBA), has introduced a gender specific personal current account product, specially designed and targeted at women.
The new premium product known as Ruby Account was formally launched to top businesswomen and high networth womenfolk on Friday, 24 February, 2012 at The Wheatbaker in Ikoyi, Lagos.
The Ruby Premium Account has unique features that set it apart from other banking products in the industry. Such features include Zero COT and highly attractive interest rates, Customised debit cards and cheque book, no limit on number of withdrawals or deposits; up to 50% discounts on services from RUBY partners such as AVIS, AA Rescue, BUPA, ACG World Concierge Services, Qatar Airways, Clear Essence California Spa and Wellness Resort, MegaCare Pharmacy and UBA Metropolitan Insurance.
Speaking at the ceremony, Acting Deputy Managing Director, UBA Plc, Mr. Kennedy Uzoka, said the introduction of Ruby was informed by the need to provide convenient banking for women, especially professional and businesswomen, who place a premium on convenience banking.
“Women control over 60% of household expenditures. Apart from that, there has been an increase in the number of women in top flight executive positions and more successful self-employed professionals. These new breed of women are financially independent and are contributing significantly to economic growth and development. They are the target market for Ruby,” he explained.
According to him, currently UBA provides banking services to over seven million customers from over 700 branches and having taken into proper cognizance what is important to women, the bank decided to introduce Ruby.
While calling on the womenfolk to take advantage of the opportunity offered by the Ruby Account, Divisional Head, e-Banking and Retail Banking Liabilities, UBA, Mr. Luqman Balogun noted that Ruby offers personalised services to the discerning woman and provides adequate security and protection for account holders. For women in business, a website will be fully built for them for free, courtesy of Google. Customers will also enjoy preferential pricing on the consumer loans of the bank.
He revealed that there are on-going discussions with new partners in sectors that are relevant to women and those partnerships with their benefits will be unfolded when discussions are finalised.
—Henry Ojelu