United Bank for Africa Plc is celebrating 40 years of its American branch in fostering economic and cultural ties between Africa and the United States.
According to the lender, established as a representative office in New York in 1982, UBA America was granted a federal banking license to operate as a full-fledged branch in 1984.
This license granted UBA America the same powers and privileges as a US national bank, allowing it to provide innovative financial solutions, including payment services, trade finance, loan services, and foreign exchange solutions.
A statement on Wednesday disclosed that over the past four decades, UBA America had become a player in the financial sector, catering to the needs of African banks, global corporations, and development organisations.
UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, commended UBA America’s role in providing innovative financial solutions and maintaining a high level of corporate governance.
“The success story of UBA over the past 75 years is a testament to our vision and determination. UBA America’s 40-year journey is not just about longevity but also about its substantial contributions to the financial industry and the communities we serve,” Alawuba stated.
The Chief Executive Officer of UBA America and Group Executive Director for International Banking, Sola Yomi-Ajayi, reflected on the branch’s achievements, noting, “Celebrating 40 years of UBA America underscores our resilience and commitment to Africa.”
“We are dedicated to promoting financial inclusion and forging strong partnerships, while also providing access to global financial markets.”
Yomi-Ajayi also expressed appreciation for the hard work of the bank’s staff and reiterated UBA America’s commitment to excellence, innovation, and regulatory compliance.
Credit: punchng.com
