The United Bank for Africa (UBA) Group has unveiled plans to establish a branch in Saudi Arabia and expand its footprint across Africa by 2025.
The announcement was made by the Group Managing Director and Chief Executive Officer, Oliver Alawuba, during a send-forth dinner held in Abuja on Wednesday to honor the bank’s retired non-executive directors.
He insisted on the bank’s focus to build a sustainable institution, Alawuba disclosed recent developments.
“Our chairman was in Saudi Arabia recently and announced that UBA will establish its presence there next year. We will also launch additional African subsidiaries, ensuring that the bank grows from strength to strength,” he added.
“UBA’s strategic expansion into Saudi Arabia and the establishment of additional African subsidiaries mark a significant step in its growth trajectory” he said.
Alawuba commended the contributions of the retirees to building the institution’s legacy, stating that “UBA currently employs over 25,000 staff and serves more than 45 million customers across 24 countries, and the UBA that will continue to thrive for generations.”
The UBA Chairman, Tony Elumelu, also praised the retired directors and their families for their dedication and sacrifices during his remarks at the event.
Elumelu described UBA as more than a financial institution, emphasizing its familial culture.
“At UBA, we are more than just a bank; we are a family. These individuals have been selfless, ultra-dedicated, and instrumental to the success we have achieved in Nigeria, Africa, and globally. We owe a debt of gratitude to their families for the support they provided,” he said.
One of the retirees, Kayode Fashola, shared his experience of working with UBA, expressing appreciation to Elumelu for entrusting him with critical responsibilities despite being a newcomer.
Fashola remarked: “To work with Elumelu, you must be committed, dedicated, and skilled. He entrusts everything into the hands of someone he doesn’t know. I was a stranger to him, and he appointed me as the Chairman of the General Purpose Committee, which I ran for four years without interference.”
