Global financial institution, United Bank for Africa (UBA) Plc has been named the African Bank of the Year at The Bankers Awards 2023.
The awards was organised by The Banker Magazine – a publication of Financial Times of London, the world’s leading business newspaper.
The bank also won Best Bank in its eight subsidiaries, bringing the total number of awards to nine.
The prestigious awards, presented to the bank in London, United Kingdom (UK) last week.
The Bank of the Year Africa 2023 award solidified UBA’s position as the leading financial institution on the African continent.
UBA subsidiaries also emerged as the Bank of the Year in eight of the 20 countries where it operates in Africa.
The winning subsidiaries are: UBA Cameroon, UBA Chad, UBA Ghana, UBA Cote d’Ivoire, UBA Mozambique, UBA Congo, UBA Sierra Leone, and UBA Tanzania, underscoring the bank’s dominance and impact across diverse African markets.
It is noteworthy that this would be the second time in the past three years that the UBA has won the regional award as the best bank in Africa, as it had emerged winner in 2021.
UBA’s Group Managing Director, Oliver Alawuba, who received the awards, expressed gratitude over the awards.
He said the recognitions came as a reassurance that the bank is on track in its goal of consolidating its leadership position in Africa, and creating superior value for its stakeholders.
Alawuba said: “UBA is honoured to be named the Bank of the Year in these eight countries and to receive the overall Award for Africa. This accomplishment is a testament to the hard work, dedication, and innovative spirit of the entire UBA team. We remain committed to delivering top-notch banking services that positively impact the lives of our customers across the continent.
“We have our millions of customers across the globe and our many thousands of staff to thank for this. They are the very reason why we keep winning and receiving these accolades.”
Speaking earlier about the bank’s consistent excellence in the financial services sector across the continent which has earned the bank great accolades overtime, Editor of the Banker, Joy Macknight, said: “As always, UBA remains a clear winner across a wide range of criteria, having performed impressively across its footprint with a strong financial performance across most of its markets.
“In a year of strong competition among the continent’s major banking groups, UBA has gained the edge on its rivals to win the Bank of the Year award for Africa for the 2nd time in three years. Congratulations. The award recognises the bank’s strength across Africa, including many of its most competitive markets.”
The Banker Awards is widely recognised as a benchmark for banking excellence globally, and UBA’s multiple victories underscore the institution’s commitment to providing exceptional financial services and superior financial intermediation on the continent.
As Africa’s Bank of the Year, UBA has demonstrated its ability to navigate the complexities of the African banking landscape and emerge as a leading force in driving economic growth and financial inclusion.
Since 1926, the Bank of the Year awards has been celebrating the best of global banking and is regarded as the industry standard for banking excellence.
Just recently, the UBA won the 2023 FMDQ Gold Awards in three Categories including the Best FX Liquidity Provider, Dealing Institution of the Year and Best Money Market Liquidity Provider. This recognition is a testament to UBA’s impressive capital strength and capacity to provide liquidity to the Nigerian financial market even in the face of harsh economic realities. Despite the headwinds, UBA Group has consistently maintained its position as Nigeria’s leading financial institution.
In June, the banking group announced impressive half-year financial results, and further increased the performance in Quarter 3, with profit before tax (PBT) soared to N502.01 billion, Shareholders’ Funds standing strong at N1.778 trillion, and total assets, reaching N16.24 trillion.
These outstanding figures not only reflect UBA’s institutional strength, but also demonstrate its position as a corporate role model in Nigeria and across Africa.
Credit: thenationonlineng.net
