UBA to open branch in Saudi Arabia, expands African subsidiaries

United Bank for Africa (UBA) Group plans to open a branch in Saudi Arabia and expand its presence across Africa in 2025.

Oliver Alawuba, group managing director/chief executive officer, UBA, disclosed this during a send-forth dinner in honour of the bank’s retired non-executive directors in Abuja on Wednesday night.

The bank currently operates with over 25,000 staff and serves more than 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.

“That is the UBA that will continue to thrive for generations”, Alawuba said.

Describing the bank’s success as a collective effort, he commended the retirees for contributing to its impressive growth trajectory, and for leaving a strong legacy. He also assured the customers that UBA remains steadfast in its mission to build a sustainable institution.

Tony Elumelu, UBA chairman, who also spoke at the event, praised the retired directors and their families for their dedication and sacrifices.

The retired directors include Onari Duke, Kayode Fasola, Foluke Abdulrazaq, and Joe Keshi

“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,” Elumelu said.

Kayode Fashola, one of the retirees, recalled how he joined UBA and expressed appreciation to Elumelu for trusting him with critical positions despite initially being a stranger.

“To work with Elumelu you must be committed, dedicated and you must have the skill. You must also be loyal. He is somebody who entrusts everything in the hands of someone who he doesn’t know. I was a stranger to him and he appointed me as the chairman and general-purpose committee and I ran that office for four years and he never for one day interfered with what I did,” he stated.