UBA Moves To Unlock Economic Potentials In Middle East
The United Bank for Africa has opened its first branch in Dubai, a move that will allow it tap from the economic potentials in the Middle East.
The Lagos based bank also sees the move as a means of supporting Africa’s development.
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“Today, UBA has officially become the first Pan African bank to establish a branch in Dubai directly from Nigeria,” the bank said on Thursday on Twitter .
The bank is headquartered in Lagos and is present in 20 African nations and the United Kingdom, USA and France.
“We are expanding into the Middle East in 2022 with a banking license to operate in the United Arab Emirates,” said UBA.
“The birth of UBA Dubai is in line with our vision: global in outlook and competence, African by heart & knowledge, and a bridge to the world economy. Over the years, the Gulf, especially the UAE have become an important hub for global trade & also a trade gateway for Africa.
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“UBA Dubai will serve our customers across the Middle East with a core focus on correspondent banking, trade & Treasury, whilst harnessing the opportunities the region has to offer to unlock our untapped economic potential and support our continent’s development.”
The launch was attended by Governor, Dubai International Financial Centre(DIFC), Essa Kazim; Group Chairman, United Bank for Africa(UBA), Tony Elumelu; Group Managing Director/CEO, UBA Group Kennedy Uzoka and Managing Director, UBA(DIFC Branch), Mr. Vikrant Bhansali.
