United Bank for Africa (UBA) Plc has taken another step and has decided to open its bank branches in Diaspora to become Africa's biggest financial institution.
United Bank for Africa (UBA) Plc, in accordance with its vision to become Africa's biggest financial institution has taken another step and has decided to open its bank branches in Diaspora. Moreover, the bank is in process of planning to open branches in United Kingdom and Japan.
Chika Mordi (Executive Director, Investment Banking and Asset Management) stirred the nation with his speech titled 'Creating Africa’s Bank'. He commenced by sharing UBA PLC's vision, which is "to be a role model for Africa's businesses, and also to be dominant in Africa's financial sector", as published by Nathanielturner.
As per Chika Mordi "UBA PLC is the clear leader in sub-Saharan Africa, we have a deposit base of over 5.77 Billion, as well as over 7.84 billion in assets and contingencies".
UBA's objectives comprise: framing the proper placement and pricing as well as products to attract and develop customers and assembling the optimum resources, services and partnerships to drive more attractive offerings.
Mr. Sonnie Ayere, MD/CEO, UBA Global Markets, stated that, "The branch network of the bank, which currently stands at about 500 and strategically located across the nation, confers upon it huge prospects to benefit from the rapidly increasing population and the significant growth potential of the Nigerian banking industry", as published by Allafrica.
Currently Nigeria's share of Japanese trade is only 0.14 percent of Japan's entire foreign trade whereas last year the Africa's share was 2.29 percent. After South Africa and Sudan, Nigeria is Asian Tiger's third business partner in Africa.
Banking prospects are incredible in UK as it encourages overseas banks to open branches in the country. American Express, ABN Amro, Bank Of Japan and a lot of other banks already have branches in UK.
As per the research analyst at RNCOS: Japan, by 2010 would increase its development aid to Africa from US$25 billion to US$50 billion. As per World Bank infrastructure requirement of Africa would be almost US$20 billion per year, which opens doorway of huge opportunities for Japanese financers and investors to invest in Africa.
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