franchise in the United Kingdom (UK), the global financial city of London.
This is coming three weeks after the group, launched its operations in
Mali.
“The enhancement of our business in the United Kingdom is very timely and
mutually beneficial for African and European corporate as well as
respective governments. With the British and other European governments
seeking new and improved measures to grow trade relations with Africa, we
are enthusiastic on our positioning and capabilities in supporting
corporate and government institutions to fulfill these lofty aspirations,
which we believe are pertinent for the sustainable growth of both
continents,” Tony Elumelu, the bank’s chairman said at the launch.
With this launch, UBA Group further consolidates its unique positioning as
the first and only Sub-Saharan African financial institution with banking
operations in both the United Kingdom and the United States, thus
reinforcing its strong franchise as Africa’s Global Bank, facilitating
trade and capital flows between Africa and the world.
Elumelu said the Group is excited by the authorization of the relevant
regulatory authorities in the United Kingdom for UBA to upgrade its
operation and further fulfil its aspiration of deepening trade and
investments flows between Africa and Europe.
Also speaking at the event, Group Managing Director/CEO, Kennedy
Uzoka,said: “UBA Group is the most efficient gateway for European
corporates and institutions to access Africa, given the bank’s expansive
network across most impact markets on the continent and its deep knowledge
of the business terrains in Africa.
“Simultaneously, we are serving the trade and capital needs of our African
customers, who are seeking exposure to the European markets. With the
upgrade of UBA UK Limited, we are excited to deepen our support to
existing customers whilst also providing the leverage for new customers to
effectively fulfil their cross-border transactions through UBA Group’s
network.” Patrick Gutmann, the UK’s branch’s CEO said:
“We are now on a stronger footing, as the authorization of the PRA and FCA
for an enhanced business model affords us the opportunity to swell our
capital and balance sheet as well as the broader UBA Group’s network
across Africa. We welcome our existing and new customers to this new world
of borderless opportunities, as we creatively serve our customers in
meeting their international transaction needs.”
At the upscale ceremony which held at The Prestigious Shard in the city of
London, were President of Dangote Group, Alhaji Aliko Dangote; President,
Afreximbank, Dr. Benedict Oramah; Former Prime Minister of Pakistan, H.E
Shaukat Aziz; Member of the British House of Lords and Executive Committee
Member of the All Party Africa Group, Rt. Hon Lord Anthony Tudor St. John
among others.