How we remained profitable despite economic hardships — UBA GMD
The United Bank for Africa (UBA) has said that it will continue to deepen innovation and prioritise customer service as it marks 75 years of banking.
The group managing director of UBA, Oliver Alawuba stated this at the bank’s 75th anniversary press conference in Lagos on Monday.
He said that the lender’s commitment to innovation and digital transformation to enhance customer experience and drive operational efficiency.
The bank also underscored its dedication to corporate social responsibility and its role in facilitating trade and investment between Africa and the rest of the world.
“I would like to reiterate UBA’s commitment to Customer First Philosophy, which is our primary business strategy,” he said.
“As we navigate through the ever-changing landscape, we remain committed to creating value for our shareholders and capitalising on emerging opportunities in the market,” he said.
Alawuba stated that innovation and digital transformation are at the heart of UBA’s strategy for future growth and competitiveness, saying the bank would continue to invest in innovative products, services, and digital platforms that enhance customer experience and drive operational efficiency.
He said, “Our vision is clear, to be the role model for African Businesses. UBA is one bank, uniting Africa while connecting Africans to the World and the World to Africa. Our primary focus is to be the payment bank for Capital flows, trade and investments between Africa and the rest of the world.
“We are committed to expanding our presence, seizing growth opportunities, and delivering value to all stakeholders. Collaboration and partnerships as exemplified by the $6bn SME funding agreement signed with the African Free Trade Area (AfCFTA) will be instrumental in achieving our strategic objectives.
“We are dedicated to deepening relationships with customers, employees, regulators, and other stakeholders for mutual benefit and long-term success.”
He noted that UBA was the first bank in the Nigerian banking industry to offer an Initial Public Offering (IPO) in 1970, the first to be listed on the Nigerian Stock Exchange (NSE) and the first to open a branch in the USA and London.
“This milestone is not just a celebration of longevity, but a testament to resilience, innovation, and unwavering commitment to excellence that have defined UBA’s journey over the decades,” the bank’s GMD said.
“As we reflect on the significance of this epoch-making event, it is important to acknowledge that UBA means different things to different people. For some, UBA is a trusted financial partner; for others, UBA is a beacon of stability and reliability, a development partner in various local communities as well as a catalyst for African development.
“The past 75 years have been marked by stability and excellence, pillars upon which UBA’s legacy stands tall,” he said.
