UBA Launches UBA UK In London
That UBA is truly becoming a global bank is not an understatement. Exactly three weeks after UBA group launched its operations in Mali, it hosted a high level gathering of business and public sector leaders, last Thursday February 28, 2019 in the heart of London. The bank birthed a new UBA franchise, called UBA UK, amidst high expectations.
The exclusive ceremony held at The Prestigious Shard, London, and the UBA UK was introduced to business leaders in Europe and Africa. The UBA Group assured the audience of its readiness to change the trade and commerce operations in Europe and Africa.
The formal launch is sequel to the authorization of the Prudential Regulation Authority (PRA), and the Financial Conduct Authority (FCA), for UBA UK Limited, before it can become a full scale wholesale bank across the United Kingdom.
With this launch, UBA Group has taken a unique position as the first and only Sub-Saharan African financial institution with banking operations in both the United Kingdom and the United States.
The Group Chairman, Mr. Tony Elumelu, who spoke at the event said the Group is excited to have gotten the authorization of the relevant regulatory authorities in the United Kingdom, for UBA to upgrade its operation and further fulfil its aspiration of deepening trade and investments flows between Africa and Europe.
“The enhancement of our business in the United Kingdom is very timely and mutually beneficial for African and European corporates, as well as respective governments. With the British and other European governments seeking new and improved measures to grow trade relations with Africa, we are enthusiastic on our positioning and capabilities in supporting corporates and government institutions, to fulfil these lofty aspirations, which we believe are pertinent for the sustainable growth of both continents.”
Also speaking at the event, The Group Managing Director/CEO, Mr. Kennedy Uzoka, said that, “UBA Group is the most efficient gateway for European corporates and institutions to access Africa, given the bank’s expansive network across most impact markets on the continent and its deep knowledge of the business terrains in Africa. “Simultaneously, we are serving the trade and capital needs of our African customers, who are seeking exposure to the European markets. With the upgrade of UBA UK Limited, we are excited to deepen our support to existing customers whilst also providing the leverage for new customers to effectively fulfil their cross-border transactions through UBA Group’s network”.
On his part, the CEO, UBA UK, Mr. Patrick Gutmann, said; “We are now on a stronger footing, as the authorization of the PRA and FCA, for an enhanced business model affords us the opportunity to swell our capital and balance sheet as well as the broader UBA Group’s network across Africa. We welcome our existing and new customers to this new world of borderless opportunities, as we creatively serve our customers in meeting their international transaction needs.”
Some guests at the event included Alhaji Aliko Dangote; President, Afreximbank’s, Dr. Benedict Oramah; Former Prime Minister of Pakistan, H.E Shaukat Aziz; Member of the British House of Lords and Executive Committee Member of the All Party Africa Group, Rt. Hon Lord Anthony Tudor St. John, amongst many others. Africa’s leading entertainers, Dbanj and Whizkid performed at the event.