In December 2021, United Bank for Africa, UBA, received its banking license to commence operations in the United Arab Emirates (UAE). The Nigerian tier-1 bank is extending its operations to the oil-rich Middle East country with the official launch of its new branch at the Dubai International Financial Centre (DIFC) in Dubai.
On Thursday, the bank took a step further as Africa’s Global Bank in connecting Africa to the world with the official ribbon cutting and launch of UBA Dubai – DIFC.
This historical milestone is a testament to our vision to remain Africa’s number one financial institution committed to advancing the cause of Africa on the global stage.
The bank in its statement said “the birth of UBA Dubai – DIFC“ is in line with our vision: global in outlook and competence, African by heart and knowledge, and a bridge to the world economy. Over the years, the Gulf, especially the UAE has become an important hub for global trade and also a trade gateway for Africa.
UBA Dubai – DIFC will serve our customers across the Middle East with a core focus on correspondent banking, trade & Treasury, whilst harnessing the opportunities the region has to offer to unlock our untapped economic potential and support the next phase of our continent’s development.
Speaking about the unveiling of the new branch, Tony Elumelu, Group Chairman, United Bank for Africa, said what started as an ambitious dream is today a reality as the bank has expanded its operations beyond Africa, the United States, and Europe to the United Arab Emirates. He tweeted, “Dubai’s strategic position as a thriving global trade hub at the intersection of Asia, Europe, and Africa makes it an ideal market for our 35 million+ customers to leverage their businesses and boost their global footprint.”
In attendance at the event to mark this was the Chief Executive Officer, Dubai International Financial Centre (DIFC) Authority, Mr. Arif Amiri; UBA Group Chairman, Tony O. Elumelu, CON, GMD/CEO Kennedy Uzoka, Board of Directors, Executive Management, the CEO of the UBA Dubai – DIFC – Vikrant Bhansali, CFA, and other esteemed guests.
United Bank for Africa Plc, UBA, is a Multinational pan-African financial services group headquartered in Lagos and known as Africa’s Global Bank. The bank now has subsidiaries in 20 African countries and offices in London, Paris, New York, and Dubai.