UBA’s deposit base hits N18trn, says Alawuba

.Insists SMEs future of Africa, hails bank’s achievements at 75yrs.

THOMAS IMONIKHE

United Bank for Africa, UBA, Plc, depositors fund has hit a record N18trillion with over 35million customers in Nigeria, 20 African countries and four global financial nerve centres namely, New York, London, Paris and Dubai.

The Bank’s Group Managing Director, GMD, Mr. Oliver Alawuba, who gave the figures at a briefing to commemorate the institution’s 75years of existence in Lagos on Monday said accelerated growth of Small and Medium Enterprises, SMEs will shape socio-economic and technological transformation of Africa in years ahead.

According to him, innovation and digital transformation remain at the heart of UBA’s strategy for future growth and competitiveness adding that, “we will continue to invest in innovative products, services, and digital platforms that enhance customer experience and drive operational efficiency”.

He said the Bank’s commitment to Corporate Social Responsibility, CSR’s is “strong, with initiatives focused on education, healthcare, entrepreneurship, and environmental sustainability; thus, making a concrete impact on communities across Africa.

“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.

Continuing, he noted, “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.

“As I round off, I would like to reiterate UBA’s commitment to Customer First Philosophy, which is our primary business strategy. The customer is our employer and the sole reason why we come to work. Our three (3) key pillars of service (People, Process and Technology) are all geared towards the delivery of excellent customer experience, which is our promise.

“As we embark on the next phase of our journey, I urge all stakeholders to continue their support and collaboration. Together, we will write the next chapter of success for United Bank for Africa Plc” stressing that

“I would like to leave you with the words of the Danish theologian, philosopher, poet, social critic, and religious author, Soren Kierkegaard (May 5, 1813 – November 11, 1855): “Honour the Past. Celebrate the Present. Embrace the Future. Life can only be understood backwards, but it must be lived forward.”

Alawuba, who dwelt on the Bank’s growth trajectory since it commenced operations in 1949 on Kakawa St, Lagos Island as the British & French Bank, BFB, said the financial institution now has

“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”.

He added that the past 75 years have been marked by stability and excellence, pillars upon which UBA’s legacy stands tall.

“We take pride in being: the first Nigerian Bank to offer an Initial Public Offering (IPO) in 1970; the first Nigerian Bank to be listed on the Nigerian Stock Exchange (NSE); the first Nigerian bank to open a branch in the USA and London; the first bank in Nigeria to install Automated Teller Machines (ATM); the first Nigerian Bank to open a campus branch at the University of Lagos and the  first Nigerian Bank to open a subsidiary in Africa (Ghana in 2005).

The GMD, who also showered encomiums on the past, present leaders of the bank and looked forward to future leaders who will continue to raise the bar of banking in Africa and globally commended the current Group Chairman, Board Members, Executive Management and staff across all our subsidiaries.

He said: “Without your sacrifices, contributions, support, and guidance over the years, we would not be where we are today. We appreciate and honour you because you built and nurtured the platform on which we are standing today. Our Group Chairman (Mr. Tony Elumelu, CFR) truly deserves special recognition and mention. Without his visionary push in 2005 and tutelage over the years, I doubt whether we would be where we are today. For these and more, we say a “Big and resounding thank you” to him.

According to him, “milestone is 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”.

The well attended global briefing also saw the executive management of the bank taking turns to answer questions from newsmen while the grand finale of the 75 years anniversary will take place in November this year.