UBA America, the United States branch of United Bank for Africa (UBA) Plc, has reiterated its commitment to strengthening the economic and cultural ties between Africa and the United States as well remaining at the forefront of championing economic advancement of Nigeria across the globe.
This goal , the bank emphasized during its 40th anniversary commemoration, recently at its office in New York, USA amid pomp and fanfare.
A pivotal player in the banking industry, UBA America not only facilitated seamless financial transactions but has also championed initiatives that promote mutual growth and understanding.
Following its establishment in 1982, as a representative office in New York, the bank was granted a federal banking license to operate as a federal branch in 1984, having met all the conditions to begin full operations.
Interestingly, the federal banking license conferred by the United States on UBA America gave the bank the same powers and privileges as a U.S. national bank, and despite the rigorous scrutiny and examination that UBA America has regularly been subjected to, especially by the two regulators known for their comprehensive oversight – the Central Bank of Nigeria (CBN) and the Office of the Comptroller of the Currency (OCC) – UBA America has evolved to become a pivotal player in the financial sector, bridging the gap between Africa and the United States.
Over the past four decades, UBA America has consistently provided innovative financial solutions, catering to the diverse needs of African banks, global corporate and development organizations, offering payment services, trade finance solutions, loan services through primary origination and risk participation in syndicated transactions, treasury and foreign exchange solutions.
UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, who said the celebration is monumental especially as it coincides with the 75th anniversary of the UBA Brand, said the bank has been resolute in its commitment to adhere to the principles of sound corporate governance in the United States and will continue to break barriers in the provision of innovative financial solutions to its clients across the globe.