UBA Group plans to establish a branch in Saudi Arabia and broaden its activities across AfricaThis comes after the bank and France signed a landmark corporate partnership agreementThe bank’s GMD said its new African subsidiaries signify a step forward for UBA’s global expansion strategy
Henzodaily.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
In 2025, the United Bank for Africa (UBA) Group intends to expand its operations throughout Africa and open a presence in Saudi Arabia.
UBA’s GMD announced that UBA’s worldwide growth strategy would take a major stride. Photo Credit: UBA
Source: UGC
This follows the bank’s signing of a historic contract with France for corporate cooperation.
Oliver Alawuba, the Group Managing Director and Chief Executive Officer, made the announcement during a send-off dinner honoring the bank’s departed non-executive directors on Wednesday night in Abuja.
Speaking at the ceremony, Alawuba announced that UBA’s worldwide growth strategy would take a major stride with the creation of new African subsidiaries in addition to its Saudi expansion.
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With more than 25,000 employees and more than 45 million clients in 24 countries, he said UBA is dedicated to becoming a sustainable and forward-thinking organisation, Premium Times reported.
“Our chairman was in Saudi Arabia recently and announced that UBA will establish its presence there next year. We will also launch additional African subsidiaries, ensuring that the bank grows from strength to strength,” Mr Alawuba said.
The CEO thanked the retirees for their contributions to UBA’s expansion over the years and credited the bank’s success to a team effort.
“The UBA that has over 25,000 staff and serves more than 45 million customers across 24 countries is the legacy you have contributed to. That is the UBA that will continue to thrive for generations,” he added.
UBA’s chairperson, Tony Elumelu, also attended the occasion and praised the retirees for their steadfast commitment, which he said played a key role in the bank’s achievements.
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“At UBA, we are more than just a bank; we are a family. These individuals have been selfless, ultra-dedicated, and instrumental to the success we have achieved in Nigeria, Africa, and globally. We owe a debt of gratitude to their families for the support they provided,” Mr Elumelu said.
UBA ranked most visited banking website
Henzodaily.ng reported that some banks have seen an increase in their digital channels due to online banking choices as their client base becomes more and more accustomed to using digital technologies.
Since digital technology has grown to be a significant factor that has a significant impact on the financial industry, the majority of financial institutions in Nigeria have adjusted accordingly.
A significant portion of Nigerians have steadily shifted from using traditional banking techniques to the simpler self-service choices offered by banks, which involve using computers and cellphones for ease when transacting.
Source: Henzodaily.ng