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Our History

UBA has more than seven decades of providing uninterrupted banking operations, dating back to 1949 when the British and French Bank Limited (BFB) commenced business in Nigeria.

Learn about our origins, foundations and beginnings

Since its founding in 1949, UBA has been serving the households, businesses and communities of Africa. We’re happy to have spent over 75 years of providing the best services to our customers.

Our Timeline

For generations, Africa’s Global Bank, UBA has been providing excellent services to our customers. Take a journey with us through our timeline and see our achievements, innovations and ways we have evolved over the years.

1949

British & French Bank (BFB) commences business in Nigeria with its first office in Lagos

1961

UBA is incorporated as a Limited Liability Company, taking over the assets and liabilities of British & French Bank

1970

UBA becomes the first Nigerian bank to make an Initial Public Offering.

UBA’s London business becomes a subsidiary

1984

UBA establishes its New York branch

1997

Standard Trust Bank commences operations

1998

UBA becomes the first Nigerian bank to issue Global Depository Receipts

2004

Standard Trust Bank commences operations in Ghana

2005

UBA merges with Standard Trust Bank and also acquires Continental Trust Bank

2007

Successfully raises fresh equity capital

UBA Capital (Europe) London opens

2008 - 2011

UBA successfully raises N20 billion debt capital and acquires majority interest in banks in Burkina Faso and the Republic of Benin. Operations in other African countries; Kenya, Uganda, Cameroon, Cote d’Ivoire, Sierra Leone, Mozambique, Chad, Congo Brazzaville, Congo DR, Gabon, Guinea, Senegal, Tanzania and Zambia commence.

Within this period (2009), the Paris office opens

2012

UBA wins Financial Times’ Bankers Award for the overall Bank in Africa, Best Bank in Cameroon and Best Bank in Senegal

2013

Successfully divests from its non-bank subsidiaries and property management business

2014 - 2015

UBA Chad and Senegal are awarded Bank of the Year by the Banker Magazine. UBA also wins the Africa Investor Social Infrastructure Deal of the Year award

2017

UBA successfully raises $500 million through a 5-year senior unsecured Eurobond and achieves Premium listing on the Nigerian Stock Exchange

2018

Establishes subsidiary in Mali

Launches the first Artificial Intelligence Virtual Banking Bot, Leo on Facebook

Named Africa’s Best Digital Bank by Euromoney

UBA Capital Limited receives its wholesome banking licence to commence full banking operations in the UK as UBA UK Limited

2019

Celebrates a milestone achievement of 70 years of banking operations

Named Africa’s Bank of the Year by “The Banker”

2021

The Bank is again awarded the Prestigious ‘African Bank of the Year by The Banker Magazine. UBA also wins Best Bank in 13 of its African subsidiaries

UBA receives its operating licence for the United Arab Emirates

2022

UBA commences business operations in Dubai, the United Arab Emirates

2023

Launches the Braille Account Opening Form

UBA and AfCFTA sign $6B SME finance agreement

UBA wins Financial Times’ Bankers Award for Best Bank in Africa

Play Video

The History and Evolution of United Bank for Africa – Narrated by Group Chairman, Tony O. Elumelu (February, 2021)

Explore UBA

We have a very clear vision – to be the best bank for customers. Our support of businesses continues to be recognised by many of the leading publications within the financial services industry.

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