Hot Source· Bank’s assets hit ₦30.32 trillion in 2024
James Emejo in Abuja
Group Managing Director/Chief Executive, United bank for Africa (UBA) Plc, Mr. Oliver Alawuba, has said the bank envisioned a presence in every African country and will expand its footprints to over 100 countries across the world over the next 75 years.
Speaking at the bank’s 75th anniversary gala dinner, over the weekend in Abuja, Alawuba said the aspiration will deepen its role as a truly global African institution.
He said, “At UBA, we are building more than a bank; we are building a future for the next generation of Africans – one defined by opportunity, inclusion, and transformation.
“In the next 75 years, UBA will serve more than one billion customers, leveraging cutting-edge technology, customer-first innovation, and trusted relationships and collaborations to meet the evolving needs of individuals, businesses, and governments.
“In the next 75 years, UBA will be more than a part of Africa’s economic renaissance – it will shape its trajectory and champion its transformation.”
Alawuba paid glowing tributes to its visionary Group Chairman, Mr. Tony O. Elumelu, describing him as a foremost entrepreneur, philanthropist, pan-Africanist, and architect of modern UBA.
He also hailed Vice President Kashim Shettima’s continued support for UBA, noting that his visible advocacy for Africa’s economic integration and private sector-led development align seamlessly with the bank’s pan-African vision.
He stated that the moment was particularly meaningful for the bank as “you are not only a respected national leader but also a valued part of the UBA family, having served within this Institution earlier in your distinguished banking career.
“Your presence here this evening is a powerful affirmation of the enduring bond between the public and private sectors, and a shared commitment to shaping a more prosperous future for Nigeria and the entire African continent.”
Alawuba said, “Thus, tonight is beyond a celebration, it is about renewal; a renewed commitment to innovation, service, and social impact; renewed ambition to lead Africa as a strong player in the global economy; renewed pledge to remain a beacon of excellence for generations to come.
“As we raise our glasses this evening, we also raise our collective aspirations – towards a future where African institutions like UBA lead with boldness, innovation, and purpose on the global stage.”
Highlighting the banks achievements from a humble beginning, the UBA GMD said, “We delivered an impressive performance in 2024 fiscal year, with Gross Earnings soaring by 53.6 per cent to ₦3.19 trillion ($2.14 billion) – underscoring the bank’s strong earnings momentum.
“Furthermore, total assets expanded by 46.8 per cent to ₦30.32 trillion ($19.58 billion) and shareholders’ funds strengthened by 68.39 per cent to ₦3.42 trillion ($2.21 billion) – reflecting UBA’s growing balance sheet and unwavering resilience.”
Alawuba said, “75 years ago, UBA commenced operations in 1949 on Kakawa Street, Lagos Island, as the British and French Bank. Today, by the grace of God, by the strength and resilience of our people, and the unwavering trust of our customers, we proudly operate in 20 African countries and four global financial centres (New York, London, Paris, and Dubai).
“We are serving over 45 million customers through 1,000 Business Offices and a diverse array of channels: more than 430,000 POS terminals, 2,600 ATMs, and 21 million cardholders, powered by a workforce of over 25,000 staff across our network.
“These milestones stand on the pillars of stability, resilience, and excellence – pillars that have anchored UBA’s growth over the last seven and a half decades.
“We are inspired to do more – driven by our unwavering Customer 1st philosophy, the vast and untapped potential across Africa, and the deeply held belief that UBA possesses the capacity, resilience, and responsibility to confront and overcome the continent’s most pressing challenges, while unlocking sustainable opportunities for future generations.”
He said the dinner, with the theme, “UBA @ 75 – A Legacy of Excellence” was more than a reflection on the past.
“It is a tribute to the men and women who dared to dream, who laid the foundation for what we have become. It is a call to renew our collective commitment to excellence, enterprise, and execution.
“It is a reaffirmation of our vision – to build a future that is more inclusive, digitally enabled, globally competitive, and fundamentally committed to advancing Africa’s development and prosperity.”
He specifically praised former chairmen, board members, and executives, at both group and subsidiary levels, whose stewardship built enduring foundations, as well as customers, regulators, and “stakeholders in every market where we operate”.
He also paid tributes to the entire UBA workforce, former staff and colleagues who have served the institution with dedication across the decades, “especially those who are no longer with us. Their contributions, sacrifices, and commitment remain deeply woven into the fabric of our journey. We honour their memory and remain grateful for their role in building the legacy we celebrate today.”
