United Bank for Africa


United Bank for Africa Plc, is a Nigerian pan-African financial services group headquartered in Lagos. It has subsidiaries in 20 African countries and offices in London, Paris and New York. It is listed as commercial bank by the Central Bank of Nigeria. The shares of stock of the group are listed on the Nigerian Stock Exchange, where they trade under the symbol: UBA.

Overview

United Bank For Africa is a large financial services group in Nigeria and on the African continent. As of December 2019, the group's financial assets were valued at NGN:5,604 billion, with shareholders' equity of NGN:597.97 billion. At that time the group employed 13,355 people, of whom 9,787 were Nigerians. The group maintains banking subsidiaries in Nigeria, Ghana, Benin, Ivory Coast, Burkina Faso, Guinea, Chad, Cameroon, Kenya, Gabon, Tanzania, Zambia, Uganda, Liberia, Sierra-Leone, Mozambique, Senegal, DR Congo, Congo Brazzaville and Mali.

History

The bank was established in 1949, as the British and French Bank Limited. On 23 February 1961, UBA was incorporated as a limited liability company under the Compliance Ordinance 1922. UBA took over the assets and liabilities of BFB. In 1970 UBA listed its shares on the Nigerian Stock Exchange in an IPO, being the first Nigerian bank to make an Initial Public Offering. In 2005 UBA merged with Standard Trust Bank Plc, a Nigerian institution which had a subsidiary in Ghana. The merged bank maintained the name United Bank for Africa.
Since then, the group has expanded to include 20 sub-Saharan
countries, as well as offices in the United Kingdom, France and the United States.

Subsidiaries

The table below illustrates the locations and Group shareholding in the subsidiary banks of the UBA Group Plc.
RankCountrySubsidiaryShareholding
1United StatesUBA New York Inc.
100
2United KingdomUBA United Kingdom Limited
100
3FranceUBA France S.A.
100
4NigeriaUBA Nigeria Limited
100
5BeninUBA Benin
84
6Burkina FasoUBA Burkina Faso
64
7CameroonUBA Cameroon S.A.
100
8ChadUBA Chad S.A
89
9Republic of the CongoUBA Congo Brazzaville
100
10Democratic Republic of the CongoUBA Congo DRC
100
11Ivory CoastUBA Côte d'Ivoire
100
12GabonUBA Gabon S.A.
100
13GhanaUBA Ghana Limited
91
14Republic of GuineaUBA Guinea Conakry S.A.
100
15KenyaUBA Kenya Limited
81
16LiberiaUBA Liberia Limited
100
17MaliUBA Mali
100
18MozambiqueUBA Mozambique
96
19SenegalUBA Senegal S.A.
86
20Sierra LeoneUBA Sierra Leone Limited
100
21TanzaniaUBA Tanzania
82
22UgandaUBA Uganda Limited
69
23ZambiaUBA Zambia Limited
100