United Bank for Africa (UBA) Plc is one of Nigeria’s largest and most influential financial institutions. The bank traces its roots to the British & French Bank (BFB), which commenced operations in Nigeria in 1949. In 1961, UBA was formally incorporated to take over the business of BFB.
Over time, UBA expanded its footprint and operations significantly, including a major merger in 2005 with Standard Trust Bank, which grew its domestic presence and market reach.
Today, UBA operates as a pan-African bank, with operations in over 20 African countries as well as international business beyond the continent. Its business spans retail banking, corporate and investment banking, digital banking, and wealth management. UBA has consistently invested in technology, aiming to deepen its service delivery, expand digital product offerings, and improve cost efficiency.
UBA ‘s London business became a subsidiary in 1970, and its New York presence was established in 1984.
Between 2008 and 2011, the bank acquired stakes in banks in Burkina Faso and the Republic of Benin while also establishing a presence in other African countries. In 2013, the bank divested its interest in its non-banking subsidiaries and property management business.
In 2023, the bank signed a $6 billion SME finance agreement with AfCFTA. Strengths of UBA include its wide network across Africa and strong balance sheet growth.
