20th May, 2024
By Kazeem Ugbodaga
The Group Managing Director of the United Bank for Africa (UBA), Oliver Alawuba on Monday said amidst economic challenges and market dynamics, the bank, in 75 years of its existence has demonstrated remarkable financial strength and resilience.
Alawuba, who spoke at the UBA 75th global press conference at its headquarters in Marina, Lagos, said the bank’s splendid performance, especially within last year, 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 capitalizing on emerging opportunities in the market,” he said.
Alawuba stated that innovation and digital transformation are at the heart of UBA’s strategy for future growth and competitiveness, saying the bank would will continue to invest in innovative products, services, and digital platforms that enhance customer experience and drive operational efficiency.
“Our commitment to Corporate Social Responsibility is strong, with initiatives focused on education, healthcare, entrepreneurship, and environmental sustainability; thus, making a concrete impact on communities across Africa,” he added.
The bank’s Chief Executive Officer (CEO) said “looking ahead, our vision is clear – to be the role model for African Businesses. UBA is one bank, uniting Africa while connecting Africans to the World and the World to Africa. Our primary focus is to be the payment bank for Capital flows, trade and investments between Africa and the rest of the world.
“We are committed to expanding our presence, seizing growth opportunities, and delivering value to all stakeholders. Collaboration and partnerships as exemplified by the $6bn SME funding agreement signed with the African Free Trade Area (AfCFTA) will be instrumental in achieving our strategic objectives.
“We are dedicated to deepening relationships with customers, employees, regulators, and other stakeholders for mutual benefit and long-term success.”
Alawuba added that the milestone the bank has reached was 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.
“As we reflect on the significance of this epoch-making event, it is important to acknowledge that UBA means different things to different people. For some, UBA is a trusted financial partner; for others, UBA is a beacon of stability and reliability, a development partner in various local communities as well as a catalyst for African development.
“Since its inception in 1949, UBA has evolved from a modest beginning in Lagos Island to a global financial institution with a presence in 20 African countries and 4 global financial nerve centres (New York, London, Paris and Dubai).
“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. The past 75 years have been marked by stability and excellence, pillars upon which UBA’s legacy stands tall,” Alawuba stated.
UBA’s Group Deputy Managing Director, Muyiwa Akinyemi, said the bank operates across four continents with presence in 20 African countries, United States of America, France, United Kingdom and UAE.
In addition, Akinyemi said over the past 75 years, UBA had exemplified stability, reliability, and excellence in banking, achieving numerous milestones and positively impacting the communities that it serves.
According to him, the bank’s commitment to exceptional customer experience as well as its financial strength and resilience over the years had been key to its success.
“Our robust performance, especially over the last couple of years, underscores our sound strategies and commitment to operational excellence. UBA remains an attractive investment opportunity as it continues to deliver exceptional value to its shareholders.
“At UBA, innovation and digital transformation are at the heart of our future growth as we remain committed to enhancing the experience of our customers across all touchpoints while solidifying our position.
“We are committed to offering value that enhances the experience of our customers, while solidifying our position as a forward-thinking institution,” he said.