GMD’S SPEECH
WORLD PRESS CONFERENCE ON UBA @ 75
MONDAY, MAY 20, 2024
Good afternoon, dear distinguished guests, gentlemen of the Press, key stakeholders from around the world and my esteemed colleagues, both past and present.
It is with great pleasure and a profound sense of pride that we gather here today to commemorate a momentous occasion – the 75th anniversary of United Bank for Africa Plc. As a matter of record UBA commenced operations in 1949 on Kakawa St, Lagos Island as the British & French Bank.
First and foremost, I would like to acknowledge and appreciate all our former Chairmen of Group and Subsidiary Boards, Board Members, Group and Subsidiary MD/CEOs, and staff in various capacities over the years.
As we honour our past leaders, we also commend our present and look forward to future leaders who will continue to raise the bar of banking in Africa and globally.
To this end, please join me in celebrating our current Group Chairman, Board Members, Executive Management and staff across all our subsidiaries.
Without your sacrifices, contributions, support, and guidance over the years, we would not be where we are today.
We appreciate and honour you because you built and nurtured the platform on which we are standing today. Our Group Chairman (Mr. Tony Elumelu, CFR) truly deserves special recognition and mention. Without his visionary push in 2005 and tutelage over the years, I doubt whether we would be where we are today. For these and more, we say a “BIG AND RESOUNDING THANK YOU” to him.
I will like to also take this opportunity to thank all customers of UBA around the globe. Your consistent support and patronage over the years have been amazing. You meet several people, they will tell you that they are third or fourth generation of UBA customers in their families, that their grandparents and parents were customers of UBA and their children currently carry UBA ATM cards, enrolled on our mobile banking and LEO chat bot banking. This is the strength of UBA.
This milestone is not just a celebration of longevity, but a testament to resilience, innovation, and unwavering commitment to excellence that have defined UBA’s journey over the decades.
As we reflect on the significance of this epoch-making event, it is important to acknowledge that UBA means different things to different people. For some, UBA is a trusted financial partner; for others, UBA is a beacon of stability and reliability, a development partner in various local communities as well as a catalyst for African development.
Since its inception in 1949, UBA has evolved from a modest beginning in Lagos Island to a global financial institution with a presence in 20 African countries and 4 global financial nerve centres (New York, London, Paris and Dubai).
Today we have over 25,000 Staff, over 35 million customers served through multiple channels – over 350,000 POS terminals, 2,000 ATM terminals, 1,000 Business Offices and 19.7 million Card Customers.
The past 75 years have been marked by stability and excellence, pillars upon which UBA’s legacy stands tall. We take pride in being:
- UBA was the first Bank in Nigeria to offer an Initial Public Offering (IPO) in 1970.
- The first in Nigeria banking industry to be Listed on the NSE: UBA was the first Nigerian bank to be listed on the Nigerian Stock Exchange (NSE).
- The first Nigerian Bank in the USA and London: UBA was the first Nigerian bank to open a branch in the USA and London.
- The first to install ATMs in Nigeria: UBA was the first bank in Nigeria to install Automated Teller Machines (ATMs).
- UBA was first to open a campus branch at the University of Lagos in Nigeria
- UBA was the first Nigerian Bank to open a subsidiary in Africa (Ghana in 2005)
- UBA appointed the first Female Board Chairperson in Nigeria
- Mobile Banking in Nigeria was first introduced by UBA: UBA was a pioneer in introducing mobile banking in Nigeria.
- UBA launched the first Multi-lingual Chatbot Banking in Nigeria: UBA introduced Leo, the first multi-lingual chatbot in Nigeria.
- UBA is the first Nigerian Bank to launch the most successful Prepaid Cards across Africa.
There are so many other firsts of the UBA Group that time would not permit me to list.
Amidst economic challenges and market dynamics, UBA has demonstrated remarkable financial strength and resilience. Our splendid performance, especially within the last year, is a testament to our robust fundamentals and sound strategic decisions. As we navigate through the ever-changing landscape, we remain committed to creating value for our shareholders and capitalizing on emerging opportunities in the market.
Innovation and digital transformation are at the heart of UBA’s strategy for future growth and competitiveness. We will continue to invest in innovative products, services, and digital platforms that enhance customer experience and drive operational efficiency. Our commitment to Corporate Social Responsibility is strong, with initiatives focused on education, healthcare, entrepreneurship, and environmental sustainability; thus, making a concrete impact on communities across Africa.
Looking ahead, our vision is clear – to be the role model for African Businesses. UBA is one bank, uniting Africa while connecting Africans to the World and the World to Africa. Our primary focus is to be the payment bank for Capital flows, trade and investments between Africa and the rest of the world.
We are committed to expanding our presence, seizing growth opportunities, and delivering value to all stakeholders. Collaboration and partnerships as exemplified by the $6bn SME funding agreement signed with the African Free Trade Area (AfCFTA) will be instrumental in achieving our strategic objectives. We are dedicated to deepening relationships with customers, employees, regulators, and other stakeholders for mutual benefit and long-term success.
As I round off, I would like to reiterate UBA’s commitment to Customer First Philosophy, which is our primary business strategy. The customer is our employer and the sole reason why we come to work. Our three (3) key pillars of service (People, Process and Technology) are all geared towards the delivery of excellent customer experience, which is our promise.
As we embark on the next phase of our journey, I urge all stakeholders to continue their support and collaboration. Together, we will write the next chapter of success for United Bank for Africa Plc.
In conclusion, I would like to leave you with the words of the Danish theologian, philosopher, poet, social critic, and religious author, Soren Kierkegaard (May 5, 1813 – November 11, 1855): “Honour the Past. Celebrate the Present. Embrace the Future. Life can only be understood backwards, but it must be lived forward.”
Thank you for your time and attention, and Congratulations to All.
