The hallmark of a strong financial institution is a combination of factors, including robust risk management, solid capital base, strong governance, and a proven track record of reliable service and customer satisfaction. It also includes profitability, financial stability,  and the ability to adapt to changing market conditions.

Imply put, a strong financial institution is not just about making money; it’s about building trust, managing risks effectively, and contributing to the stability and growth of a country’s, a continent’s or the global economy.

Africa’s Global Bank, United Bank for Africa (UBA) Plc ticks all the above boxes and even more. With an audacious vision to be the undisputed leading and dominant financial services institution in Africa, the Bank has been a force for growth, innovation, and impact across the world.

For 75 years, from humble beginnings in 1949, UBA has evolved into a leading financial institution, serving over 45 million customers in major financial hubs across four continents.

As one of the first Nigerian banks to expand beyond Africa, UBA established its first international branch in 1984. Currently with operations in 20 African countries, including the U.S., UK, France, and the UAE, the Bank’s global footprint is unmatched even as it remains the only sub-Saharan Africa bank with an operating licence in the United States of America.

To drive its digital transformation and stay ahead of the curve, UBA introduced Africa’s first banking chatbot, Leo, revolutionising customer interaction and the first to introduce cash deposit ATMs in Nigeria. Today, UBA continues to be one of the leaders in digital banking, making banking faster and smarter for millions.

Read Also: Wema Bank: An 80-year chronicle of grit, growth, groundbreaking service

Recently, the Bank unveiled its vastly improved Point of Sale (POS) Terminal as well as the UBA MONI App to redefine the digital payment landscape and empower small and Medium Scale Enterprises across Africa. The upgraded platforms form part of the bank’s ongoing campaign with the theme: “Innovation for Progress: Empowering SMEs, Connecting Communities, Simplifying Banking”.

The newly improved PoS, which provides customers efficiency and ease in transacting their businesses, boasts exciting features designed to boost efficiency, transparency, and trust for merchants; including instant settlement, real-time monitoring, pay-by-link functionality, and a 100% transaction success rate.

According to the Bank, e-transfers, cash deposits and withdrawals, airtime/data payments with agent discounts, and instant POS deployment remain at the heart of the app.

Over the years, through its Corporate Social Responsibility (CSR) initiatives, such as the UBA Foundation, the Bank
has supported education, entrepreneurship, and sustainable development across Africa. The prospects have empowered countless individuals from students to small business owners while building a legacy of empowerment in people, businesses, and communities.

The management team of the Group is made up of a crop of seasoned and industry- recognised professionals, with diverse but complementary skills in various backgrounds, as well as depth of experience garnered from national and international institutions. Over the years, these executives have brought their knowledge, experience and leadership to bear on the development and delivery of solutions, through products and services, to meet the needs of UBA customers and, in the process, contributing to sustaining the performance of the Group till date.

Mr. Tony O. ELumelu, CFR, is the Chairman of the UBA while Mr. Oliver Alawuba is the Group Managing Director/ CEO.

During the 63rd Annual General Meeting of the Bank, Mr. Elumelu assured stakeholders that UBA will meet the Central Bank of Nigeria’s (CBN) N500 billion minimum capital requirement for international commercial banks by Q3 2025, ahead of the deadline.

Also addressing the press at the 63rd AGM, Mr. Alawuba assured that the bank would continue to pay strong dividends to shareholders. According to him, the total dividends to be paid for the year ended December 31, 2024, amount to N102 billion.

The CBN mandated all licensed commercial banks with an international license to increase their minimum paid- up capital to N500 billion from the current N25 billion capital base. UBA is also confident that it will meet the new N500 billion capital base requirement for commercial banks with an international license.

In line with the CBN directive, UBA began its capital raising activities with its first rights issue in November The rights issue closed in December 2024 with 6.84 billion ordinary shares of 50 kobo each offered to existing shareholders at N35 per share.

In the words of the Group Managing Director/CEO, “Our primary business strategy is to continue to focus on the customer – the undisputed employer. To achieve the above, our esteemed customers and the dedicated workforce are very critical to us even with the best of processes and technology. We are committed to ensuring a positive experience for our customers across all our touch points.

”We will continuously strive to simplify and streamline our process and ensure systems stability and reliable IT architecture to support our operations. We will proactively interrogate our systems, services and resources in order to constantly surpass the expectations of our customers.”

For the year ended December 31, 2024, UBA recorded a pre-tax profit of N803.7 billion, a 6% increase from the N757.6 billion recorded the previous year. Post-tax profit for the group surged by 26.14% to N766.5 billion, up from N607.6 billion in 2023. This represents the highest annual profit ever recorded by the bank, solidifying its status as one of Nigeria’s most consistently performing financial institutions.

Most recently, UBA’s unaudited financial results for the first quarter ended March 31, 2025, recorded a robust pre-tax profit of N204.27 billion, representing a 30.65% year-on-year growth from Q1 2024.

It’s net profit also saw a strong performance, with profit after tax rising 33.15% to N189.84 billion, compared to N142.58 billion recorded in the same period last year. The report highlights that interest income remained a significant driver of growth, hitting N599.83 billion, a 36.09% increase YoY.

UBA has continued to make significant investments in training and development, nurturing its talents and unceasingly creating excitement within the Group by rewarding excellent performance via promotion, recognition and other forms of rewards.

In addition, the Bank has a diverse but complementary team of executives with cutting-edge skills to excel. They have been the Bank’s competitive edge in a highly dynamic and competitive banking environment. The Group also has in place financial and non-financial incentive schemes, including a staff recognition scheme to reward its high-performance staff members for excelling in their duties.

UBA’s 25,000+ workforce is multicultural, multilingual, and highly diverse in outlook, reflecting the richness and diversity of the 20 countries the Bank operates in. Its employees are fondly referred to as the ‘UBA Lions and Lionesses’, reflecting the confidence with which they deliver financial solutions to the bank’s customers.

For UBA, celebrating its 75 years of success in 2024 reinforced its corporate goal of connecting people and fostering progress worldwide. With an unwavering commitment to enterprise, excellence, and execution, the global Bank is poised to continue its influence for generations to come.

UBA’s current capital base is over N1 trillion. This follows the bank’s market capitalisation surpassing the N1 trillion mark, making it one of the most capitalised financial institutions in Nigeria.

What’s more, the Bank has been driving economic growth across Africa through partnership with the Africa Continental Free Trade Area (AfCFTA) Secretariat, where UBA pledged up to US$6 billion in financing over the next three years to support eligible SMEs across the continent.

UBA has consistently demonstrated growth and resilience, evidenced by the Group’s strong financial performance and recent recognition within the industry. UBA’s progressive dividend policy, which has seen an increase of 14.8% in annualised dividend yield has demonstrated the Group’s ability to reward shareholders consistently.

In 2023/2024, UBA won “Bank of the Year” Awards in eight of its subsidiaries – Cameroon, Chad, Ghana, Cote d’Ivoire, Mozambique, Republic of Congo; Sierra Leone; Tanzania, as well as the Regional Award for Africa 2024.

With over 50 awards to its name and counting, the Bank has been consistent in the banking industry and has continued to evolve as time goes by, satisfying its esteemed clients across the globe.

UBA has been honoured with more distinguished awards and prizes, including: Winner, Best Regional Bank – West Africa 2024 by The African Bank Awards; Bank of the Year Nigeria 2024 and SME Bank of the Year Nigeria 2024 by International Investor Magazine Awards; Best Bank in Frontier Markets 2024 by Global Finance; Best SME Bank in Africa (Regional); and Best SME Bank in AFRICA 2025 by Global Finance, among numerous other awards.