Nigeria’s United Bank for Africa expands into Middle East

PUBLISHED: Tue, 19 Jul 2022 11:53:50 GMT
Joe Bavier
Reuters
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UBA Group Expands To EMEA, Launches Banking Operations In Dubai International Financial Centre, Dubai
DUBAI, UNITED ARAB EMIRATES – JULY 14: In this handout image provided by APO Group; L-R: Executive Director, Treasury and International Banking, United Bank for Africa(UBA), Mr. Ndubisi Chiugo; Chief Executive Officer, Dubai International Financial Centre(DIFC) Authority, Prince Arif Amiri; Group Chairman, United Bank for Africa(UBA), Mr. Tony O. Elumelu; Governor, Dubai International Financial Centre(DIFC), His Excellency Essa Kazim; Group Managing Director/CEO, United Bank for Africa(UBA) , Mr. Kennedy Uzoka; and Managing Director, UBA(DIFC), Mr. Vikrant Bhansali poseat the official launch of UBA (DIFC), in Dubai, United Arab Emirates(UAE) on Thursday 14th July, 2022 in Dubai, United Arab Emirates The UBA branch in the DIFC will service corporate & financial Institutions and customers across the Middle East with a core focus on correspondent banking, relationship management and advisory services. Access the full release: https://bit.ly/3RJeC5M (Photo by APO Group via Getty Images)

JOHANNESBURG, July 18 (Reuters) – Nigeria’s United Bank for Africa (UBA) said on Monday it has expanded into the Middle East, setting up operations in the United Arab Emirates.

The new branch located in the Dubai International Financial Centre will serve customers across the region and focus on correspondent banking, relationship management and advisory services, UBA said in a statement.

UBA Group Chairman Tony O. Elumelu said the new UAE branch would enable trade finance and investments between the Middle East and Africa.

“We have been looking forward to this day as it is the first time we will have presence in this part of the world. We know that our international expansion is incomplete if we are not present in the Gulf,” he said.

UBA already operates in 20 African countries, Britain, France and the United States.

(Reporting by Joe Bavier; Editing by Susan Fenton)

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