History of UBA Bank



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History of UBA Bank

Since its founding in 1948, UBA has been serving the households, businesses and communities of Africa. We’re happy to have spent over 65 years of providing the best services to our customers.

History of UBA Bank

UBA has 70 years of providing uninterrupted banking operations, dating back to 1949 when the British and French Bank Limited (BFB) commenced business in Nigeria. BFB was a subsidiary of Banque Nationale de Crédit (BNCI), Paris, which transformed its London branch into a separate subsidiary called the British and French Bank, with shares held by Banque Nationale de Crédit and two British investment firms, S.G. Warburg and Company and Robert Benson and Company.

Timeline

For generations, Africa’s Global Bank, UBA has been providing excellent services to our customers. Take a journey with us through our timeline and see our achievements, innovations and ways we have evolved over the years.

1949

British & French Bank (BFB) commences business in Nigeria with its first office in Lagos

1961

UBA is incorporated as a Limited Liability Company, taking over the assets and liabilities of British & French Bank

1970

UBA becomes the first Nigerian Bank to make an Initial Public Offering

UBA’s London business becomes a subsidiary

1984

UBA establishes its New York branch.

1997

Standard Trust bank commences operations.

1998

UBA becomes the first Nigerian bank to issue Global Depository Receipts

2004

Standard Trust Bank commences operations in Ghana

2005

UBA merges with Standard Trust Bank and also acquires Continental Trust Bank

2007

Successfully raises fresh equity capital

UBA Capital (Europe) London opens

2008-2011

UBA successfully raises N20 billion debt capital and acquires majority interest in banks in Burkina Faso and the Republic of Benin. Operations in other African countries; Kenya, Uganda, Cameroon, Cote d’Ivoire, Sierra Leone and Mozambique, Chad, Congo Brazzaville, Congo DR, Gabon, Guinea, Senegal, Tanzania and Zambia commence

Within this period (2009), the Paris office opens

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2012

UBA wins Financial Times’ Bankers Award for the overall Bank in Africa, Best Bank in Cameroon and Best Bank in Senegal

2013

Successfully divests from its non-bank subsidiaries and property management business

2014-2015

UBA Chad and Senegal are awarded Bank of the Year by the Banker Magazine

UBA also wins Africa Investor Social Infrastructure Deal of the Year award

2017

UBA successfully raises $500 million through a 5-year senior unsecured Eurobond and achieves Premium listing on the Nigerian Stock Exchange

2018

Establishes subsidiary in Mali

Launches the first Artificial Intelligence Virtual Banking Bot, Leo on Facebook

Named Africa’s Best Digital Bank by Euromoney

UBA Capital Limited receives its wholesome banking licence to commence full banking operations in the UK as UBA UK Limited

2019

Celebrates a milestone achievement of 70 years of banking operations

Named Africa’s Bank of the Year by “The Banker”

2021

The Bank is again awarded the Prestigious ‘African Bank of the Year by The Banker Magazine. UBA also wins Best Bank in 13 of its African subsidiaries.

UBA receives its operating licence for the United Arab Emirates.

2022

UBA commences business operations in Dubai, the United Arab Emirates

Some of their Landmark Achievements

  • UBA was the first among international banks to be registered under Nigerian Law in 1961
  • UBA is the first Nigerian bank to offer an IPO, following its listing on the Nigerian Stock Exchange in 1971
  • UBA is the only sub–Saharan African bank (ex-RSA) with an office in the US (New York) – set up in 1984
  • UBA was the first Nigerian Bank to introduce a Cheque Guarantee Scheme known as UBACARD in 1986
  • UBA is the 1st and only Nigerian Bank to obtain a banking license in the Cayman Islands -1988
  • UBA has a GDR programme – 1998 (1st for a Nigerian Bank, as a means of facilitating international investor interest)
  • Best Domestic Bank in Nigeria (Euromoney 2000)
  • UBA is the 1st Nigerian Bank to obtain a banking license in Ghana – 2004
  • UBA was the first-ever successful merger in Nigerian banking history – 2005
  • UBA has received excellent credit ratings (short and long term); Global Credit Rating (SA) AA+ and A+ in 2005
  • UBA was the first to introduce the Nigerian Government Bond Index in 2006.
  • UBA is the first-ever Nigerian Bank to surpass the N1 trillion balance sheet size (including contingents) – 2006
  • Ranked Number One Bank in Nigeria (Agusto & Co, 2007)
  • UBA Introduced First Visa Dual Currency Debit Card in Nigeria.
  • UBA and MoneyGram opened the first dedicated MoneyGram location in Nigeria.
  • Successful underwriting of the first 100 percent local funding of an ExxonMobil/NNPC Joint Venture Project.
  • UBA launches Nigeria’s First Cash Deposit ATMs
  • UBA Meets NSE’s stringent corporate governance conditions to be listed on NSE Premium Board. An attestation to the Bank’s strong adherence to international best practices on corporate governance.
  • UBA is the first Pan-African bank to launch an AI-led Virtual Banking Robot
  • UBA extends Chat Banking services from Facebook Messenger to WhatsApp and Apple Business Chat in multiple countries
  • UBA has won Multiple Bank of the Year awards in different countries
  • UBA breaks the Banker Magazine Record. Wins Best Bank in Africa, Nigeria, and 12 other Subsidiaries in one year (2021)
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Reputable Awards

2021

Winner, Africa Bank of the Year 2021
Awarding Institution: The Banker Magazine, a Financial Times publication
Recipient:  UBA Group

Winner, Bank of the Year 2021 (Nigeria)
Awarding Institution: The Banker Magazine, a Financial Times publication
Recipient:  UBA Group

Winner, Bank of the Year 2021
Awarding Institution: The Banker Magazine, a Financial Times publication
Recipient:  UBA Benin

Winner, Bank of the Year 2021
Awarding Institution: The Banker Magazine, a Financial Times publication
Recipient:  UBA Burkina Faso

uba-best-bank-2021-Cameroon-united-bank-for-africa

Winner, Bank of the Year 2021
Awarding Institution: The Banker Magazine, a Financial Times publication
Recipient:  UBA Cameroon

Congo-Brazzaville-uba-best-bank-2021

Winner, Bank of the Year 2021
Awarding Institution: The Banker Magazine, a Financial Times publication
Recipient:  UBA Congo Brazzaville

Winner, Bank of the Year 2021
Awarding Institution: The Banker Magazine, a Financial Times publication
Recipient:  UBA TChad

Winner, Bank of the Year 2021
Awarding Institution: The Banker Magazine, a Financial Times publication
Recipient:  UBA Cote d’Ivoire

Winner, Bank of the Year 2021
Awarding Institution: The Banker Magazine, a Financial Times publication
Recipient:  UBA Gabon

uba-guinea-best-bank-united-bank-for-africa

Winner, Bank of the Year 2021
Awarding Institution: The Banker Magazine, a Financial Times publication
Recipient:  UBA Guinea

Winner, Bank of the Year 2021
Awarding Institution: The Banker Magazine, a Financial Times publication
Recipient:  UBA Liberia

Winner, Bank of the Year 2021
Awarding Institution: The Banker Magazine, a Financial Times publication
Recipient:  UBA Senegal

Winner, Bank of the Year 2021
Awarding Institution: The Banker Magazine, a Financial Times publication
Recipient:  UBA Sierra Leone

Winner, Bank of the Year 2021
Awarding Institution: The Banker Magazine, a Financial Times publication
Recipient:  UBA Zambia

Best-Bank-Ghana
Best CSR Bank Ghana 2021 Awarding Institution: Global Banking and Finance Award Recipient:  UBA Ghana
Best-Bank-Ghana

Best Remittance Bank Ghana 2021
Awarding Institution: Global Banking and Finance Award
Recipient:  UBA Ghana

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