UBA Targets Saudi Expansion Amid Plans for New African Subsidiaries in 2025

The United Bank for Africa (UBA) Group has announced that it will open a new branch in Saudi Arabia by 2025.

The Group Managing Director and Chief Executive Officer, Oliver Alawuba, made this known on Wednesday at a send-off dinner in Abuja to appreciate the bank’s retired non-executive directors.

It would be recalled that the bank signed a business cooperation agreement with France during President Tinubu’s visit to the country.

Alawuba also revealed that the bank plans to extend its presence across Africa in the new year.

UBA boasts of over 25,000 staff and provides services to over 45 million customers across 24 countries.

“Our chairman was in Saudi Arabia recently and announced that UBA will establish its presence there next year. We will also launch additional African subsidiaries, ensuring that the bank grows from strength to strength.

“The UBA that has over 25,000 staff and serves more than 45 million customers across 24 countries is the legacy you have contributed to. That is the UBA that will continue to thrive for generations,” he said.

Chairperson of UBA, Tony Elumelu also added that the bank isn’t just a bank but rather a family full of selfless and ultra-dedicated individuals in shaping the bank’s success.

Elumelu noted, “At UBA, we are more than just a bank; we are a family. These individuals have been selfless, ultra-dedicated, and instrumental to the success we have achieved in Nigeria, Africa, and globally. We owe a debt of gratitude to their families for the support they provided.”

One of the retirees, Kayode Fashola also commended Elumelu for entrusting him with critical responsibilities without any interference despite being a newcomer.

He said, “To work with Elumelu, you must be committed, dedicated, and skilled. He entrusts everything into the hands of someone he doesn’t know. I was a stranger to him, and he appointed me as the Chairman of the General Purpose Committee, which I ran for four years without interference”.