UBA Group: Company Research Report

Company Overview

Name

United Bank for Africa (UBA) Group

Mission of the Company

To be a role model for African businesses by creating superior value for all stakeholders, adhering to the utmost professional and ethical standards, and building an enduring institution.

Founded

Year: 1949

Founders: No information is available

Key People

Chairman: Tony O. Elumelu, CFR

Group Managing Director/CEO: Oliver Alawuba

Non-Executive Directors: Erelu Angela Adebayo, Caroline Anyanwu, Alhaji Abdulqadir J. Bello (FCA), Kayode Fashola, Emmanuel N. Nnorom

Independent Non-Executive Directors: Angela Aneke, Owanari Duke, Aisha Hassan-Baba, OON

Group Deputy Managing Director: Muyiwa Akinyemi

CEO, UBA Africa: Abiola Bawuah

Executive Director/Group Chief Operating Officer: Alex Alozie

Executive Director/CEO, UBA International: Sola Yomi-Ajayi

Executive Director, Finance & Risk Management: Ugochukwu Nwagodoh

Headquarters

Lagos, Nigeria

Number of Employees

No information is available

Revenue

Fiscal Year 2022 Gross Earnings: USD 1.9 billion

Profit Before Tax (PBT): USD 302.4 million

Profit After Tax (PAT): USD 256.4 million

Total Assets: USD 23.6 billion

What is the company known for

United Bank for Africa (UBA) is known for its extensive operations across Africa, Europe, Asia, and North America. It's recognized for its history of innovation, especially in digital banking, and CSR initiatives. UBA is known for being Africa’s global bank with a significant presence in 20 African countries, the UK, France, USA, and UAE.

Products and Services

Core Banking Services

UBA offers a comprehensive portfolio of banking services, including corporate, commercial, SME, consumer, and personal (retail) banking.

Energy Banking: Positioned as the Energy Bank of choice in West Africa, offering customized financial solutions with professionalism.

Corporate Banking: Serves sectors like Energy, Manufacturing, FMCGs, Export & Import, Telecommunications, Agriculture, and Public sectors.

SME Banking: Designed to help businesses grow with various financial products and services.

Digital Banking

UBA’s digital banking services ensure customers can access their accounts anytime, anywhere using laptops or smartphones.

1. Internet Banking: Secure platform with automation for daily services, instant self-registration, image & phrase security feature, multiple payments on the screen, and more.
2. Mobile Banking: Access to banking services through mobile apps.
3. Chat with Leo: Africa’s first banking chatbot available on multiple platforms.

Treasury Products

Includes collections, disbursements, investment, funding activities, and e-payment solutions.

Card Solutions

The UBA Corporate Debit Card provides a convenient, safe, and cost-effective means of transaction for corporate expenses.

Trade & Treasury Products

Comprehensive treasury products for firms, including loans, syndications, e-banking services, and more.

Recent Developments

New Products and Features

Introduction of "Scan To Resolve Complaint Portal": To improve customer service.

Launch of LEO: Africa’s first banking chatbot.

Partnerships

NBA Young Lawyers Forum Partnership: Fostering professional growth for 50,000 practitioners.

African Guarantee Fund Partnership: Synergy to support SMEs across Africa.

UBA Group & Afreximbank: Disbursed an initial USD 2.25 billion under a syndicated USD 3.3 billion Crude Oil Prepayment Facility.

Corporate Achievements

Most Visited Banking Website in Nigeria: As of August 2024.

Best Regional Bank - West Africa: At African Banker Awards 2024.

U.S. Operational Banking License: Only Sub-Saharan African bank with a deposit-taking license in the USA.

Financial Performance

2024 Q1 Results: Gross earnings rose by 110%, profit for the quarter hit N156bn, a YoY growth of 165%.

2023 Performance: Gross earnings rose by 143% YoY, profit hits N757.7bn.

CSR Initiatives

UBA Uganda: Supports Islamic University in annual run.

UBA Celebrates Africa Day: Committed to empowering youths for leadership roles.

Awards

Best Digital Bank in Africa

African Bank of the Year 2020: Various subsidiaries recognized.

International Bank of the Year

Bank of the Year: 2020 and other years.

Conclusion

United Bank for Africa (UBA) Group stands out as a formidable banking institution with a comprehensive service portfolio, strong commitment to customer satisfaction, consistent financial growth, and recognition in digital innovation and CSR. The strategic partnerships and recent financial milestones highlight UBA's continuous mission to be the leading and dominant financial services institution in Africa.