- Wins Bank of the Year Africa 2023
- Subsidiaries come top in Cameroon, Chad, Ghana, Cote d’Ivoire, Mozambique, Republic of Congo, Sierra Leone and Tanzania.
Africa’s Global bank, United Bank for Africa (UBA) Plc, has again demonstrated its prowess on the international stage as it clinched nine prestigious awards at The Bankers Awards 2023 organised by The Banker Magazine – a publication by the Financial Times of London, the world’s leading business newspaper.
The prestigious awards presented to the bank at a ceremony in London, United Kingdom, on Thursday included the highly coveted Bank of the Year Africa 2023, solidifying UBA’s position as the African continent’s leading financial institution.
The bank’s subsidiaries also emerged as Bank of the Year in eight of the 20 countries where it operates in Africa. The winning subsidiaries are: UBA Cameroon, UBA Chad, UBA Ghana, UBA Cote d’Ivoire, UBA Mozambique, UBA Congo, UBA Sierra Leone and UBA Tanzania, underscoring the bank’s dominance and impact across diverse African markets. It is noteworthy that this is the second time in the past three years that the bank has won a regional award as the best bank in Africa, as it emerged winner in 2021.
UBA’s Group Managing Director, Oliver Alawuba – who received the awards on behalf of the bank, expressed his gratitude and excitement about the awards – saying the recognitions come as a reassurance that the bank is on track with its goal of consolidating its leadership position in Africa and creating superior value for its stakeholders.
“UBA is honoured to be named the Bank of the Year in these eight countries and receive the Overall Award for Africa. This accomplishment is a testament to the hard work, dedication, and innovative spirit of the entire UBA team. We remain committed to delivering top-notch banking services that positively impact the lives of our customers across the continent.”
Continuing, Alawuba said: “We have our millions of customers across the globe and our many thousands of staff to thank for this. They are the very reason why we keep winning and receiving these accolades”.
The Banker Awards are widely recognised as a benchmark for banking excellence globally, and UBA’s multiple victories underscore the institution’s commitment to providing exceptional financial services and superior financial intermediation on the continent. As Africa’s Bank of the Year, UBA has demonstrated its ability to navigate complexities of the African banking landscape and emerge as a leading force in driving economic growth and financial inclusion.
Speaking earlier about UBA’s consistent excellence in the financial services sector across the continent, which has earned the bank great accolades over time, Editor of the Banker Joy Macknight said that, as always, UBA remains a clear winner across a wide range of criteria, having performed impressively across its footprint with a strong financial performance within most of its markets.
“In a year of strong competition among the continent’s major banking groups, UBA has gained an edge on its rivals to win the Bank of the Year Award for Africa for the 2nd time in three years. Congratulations. This award recognises the bank’s strength across Africa, including many of its most competitive markets,” Macknight stated.
Since 1926, the Bank of the Year awards have been celebrating the best of global banking and is regarded as the industry standard for banking excellence.
Just recently, UBA won the 2023 FMDQ Gold Awards in three categories – including the Best FX Liquidity Provider, Dealing Institution of the Year and Best Money Market Liquidity Provider. This recognition is a testament of UBA’s impressive capital strength and capacity to provide liquidity to the Nigerian financial market, even in the face of harsh economic realities. Despite the headwinds, UBA Group has consistently maintained its position as Nigeria’s leading financial institution.
In June, the banking group announced impressive half-year financial results and further increased its performance in Quarter 3, 2023; with profit before tax (PBT) soaring to N502.01 billion, Shareholders’ Funds standing strong at N1.778 trillion and total assets, reaching N16.24 trillion.
These outstanding figures not only reflect UBA’s institutional strength, but also demonstrate its position as a corporate role-model in Nigeria and across Africa.
United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than thirty-five (35) million customers across 1,000 business offices and customer touch points in 20 African countries. With presence in New York, London, Paris and Dubai, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross-border payments and remittances, trade finance and ancillary banking services.Read Full Story