Company: United Bank for Africa
Country: Nigeria
Sector: Major Banks
CEO: Oliver Alawuba
Website: https://www.ubagroup.com
Careers Page: https://www.ubagroup.com/about-us/careers/
LinkedIn: https://www.linkedin.com/company/united-bank-for-africa-plc
Email: Not publicly listed
Headquarters: Lagos, Nigeria
Founded: 1949
Valuation/Revenue: $822.4m market value (African Business Top 250, 2025); total assets of ₦31.801 trillion / US$18.9bn (UBA, Q3 2024 results)
United Bank for Africa (UBA) is one of Africa’s largest pan-African banking groups, branded “Africa’s Global Bank,” with retail, corporate and investment banking operations spanning 20 African countries plus the United States, United Kingdom, France and United Arab Emirates. Listed on the Nigerian Exchange and chaired by prominent entrepreneur Tony Elumelu, UBA traces its roots to the British and French Bank, which began operating in Nigeria in 1948.
What Does United Bank for Africa Do?
UBA offers a comprehensive range of banking services, including internet and mobile banking, wholesale and corporate banking, investment banking, consumer banking, treasury and trade finance, and various deposit account types including savings, current, domiciliary and non-resident African accounts. The bank serves over 45 million customer accounts across its footprint, supported by a workforce of more than 25,000 employees, and has increasingly positioned itself as a bridge for trade and investment flows between Africa and its international hubs in London, Paris, New York and Dubai.
Is United Bank for Africa Legit?
Yes. UBA is a long-established, publicly listed bank regulated by Nigeria’s Central Bank and equivalent regulators in each of its 20-plus operating markets, and it was the first Nigerian bank to complete an initial public offering, listing on the Nigerian Stock Exchange in 1970. It publishes regular audited financial statements and has won numerous industry awards, including being named Bank of the Year Africa by The Banker magazine in 2023.
How Big Is United Bank for Africa?
According to African Business magazine’s Top 250 companies in Africa list for 2025, UBA carried a market value of roughly $822 million. By its own Q3 2024 disclosures, the bank reported total assets of ₦31.801 trillion (about US$18.9 billion), before-tax revenue of ₦603 billion (about US$358.3 million) and shareholders’ equity of ₦3.585 trillion (about US$2.0 billion), figures that reflect the significant naira devaluation affecting dollar-converted results for Nigerian banks in recent years even as local-currency growth has remained strong.
Who Owns United Bank for Africa?
UBA is a publicly listed company on the Nigerian Exchange under the ticker UBA, with no single majority shareholder; Tony Elumelu, the prominent Nigerian entrepreneur and philanthropist who orchestrated UBA’s transformation through the 2005 merger with Standard Trust Bank, chairs the board and has historically been among its most significant individual shareholders, alongside a broad base of Nigerian and international institutional investors.
Who Is the CEO of United Bank for Africa?
Oliver Alawuba serves as Group Managing Director and Group CEO of UBA, leading the bank’s continued pan-African and international expansion, including the 2024 opening of full banking operations in France, following earlier expansions into the UK (2018) and UAE (2021/2022). Muyiwa Akinyemi serves as Deputy Managing Director.
What Has United Bank for Africa Been in the News For Recently?
UBA has continued its international expansion strategy, with the November 2024 opening of full banking operations in France marking its latest push to deepen ties between African markets and global financial centres. The bank has also been recognised repeatedly in industry awards, including Global Finance’s World’s Best Frontier Markets Bank in 2024 and Best Regional Bank in West Africa at the 2024 African Bank Awards, while continuing to navigate the broader challenges facing Nigerian banks around naira volatility and Central Bank of Nigeria recapitalisation requirements introduced in recent years.
How Does United Bank for Africa Compare to Its Competitors?
Within Nigeria, UBA competes with other major banks including Zenith Bank, Access Holdings, GTCO (Guaranty Trust) and First Bank of Nigeria, and is generally regarded as one of the “Tier 1” Nigerian banks by assets. Across Africa, its pan-African branch network of 20 countries rivals that of Ecobank and exceeds most other Nigerian banks’ international footprints, positioning UBA as one of the continent’s most geographically diversified banking groups alongside Standard Bank and Ecobank.
Links
Website: https://www.ubagroup.com
Careers Page: https://www.ubagroup.com/about-us/careers/
LinkedIn: https://www.linkedin.com/company/united-bank-for-africa-plc
Email: Not publicly listed
FAQ
Is United Bank for Africa legit? Yes, it is a Nigerian Exchange-listed bank regulated by the Central Bank of Nigeria, operating across 20 African countries plus international hubs.
Who owns United Bank for Africa? No single majority owner; it is publicly traded, with chairman Tony Elumelu among its most prominent shareholders.
Who is the CEO of United Bank for Africa? Oliver Alawuba, Group Managing Director and CEO.
How big is United Bank for Africa? Roughly $822 million in market value per African Business’s 2025 Top 250 ranking, with total assets of about $18.9 billion as of Q3 2024.
When was UBA founded? 1949, tracing to the British and French Bank, formally incorporated as UBA in 1961.
Where is UBA headquartered? Lagos, Nigeria.