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United Bank for Africa (UBA) Group Expands to EMEA, Launches Banking Operations in Dubai International Financial Centre, Dubai

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18 July 2022 at 13:00 BST

LAGOS, NIGERIA / ACCESSWIRE / July 18, 2022 / The United Bank for Africa (UBA)
( www.UBAGroup.com ), Africa's global bank has been in operation for over
seven decades. Today, the group is present in 20 African countries, the United
Kingdom, the United States of America and France. The bank has extended its
operations to the United Arab Emirates with the official launch of its new
branch at the Dubai International Financial Centre (DIFC).

United Bank for Africa Plc (DIFC Branch) will operate under the Category 4
license and will be regulated by the Dubai Financial Services Authority
(DFSA), the financial regulatory agency of the special economic zone, the
Dubai International Financial Centre.

The UBA branch in the DIFC will service corporate & financial Institutions and
customers across the Middle East with a core focus on correspondent banking,
relationship management and advisory services.

Through this new expansion, the UBA Group will be able to harness
opportunities in the Middle East, Africa and South Asia (MEASA), which
comprise of 72 countries with an approximate population of 3 billion and a
nominal GDP of US$7.7 trillion and thereby, reinforce its strong franchise as
Africa's Global Bank, facilitating trade and capital flows between Africa and
the rest of the world.

Speaking during the launch of the new subsidiary in Dubai on Thursday, the
Chairman, UBA Group, Mr. Tony O. Elumelu, explained that with the Group's
foray into the Gulf Region, UBA continues to focus on its strategic intent to
lead the way when it comes to doing business in Africa. He said "Collaborating
with our franchises in 20 African countries and the major financial centres of
London, New York and Paris, UBA (DIFC Branch) will facilitate the financing of
trade transactions between the Middle East and Africa, enabling trade finance
and investments," Elumelu said.

‘We have been looking forward to this day as it is the first time we will have
presence in this part of the world. We know that our international expansion
is incomplete if we are not present in the gulf', he continued

UBA's Group Managing Director/CEO, Mr. Kennedy Uzoka, who also spoke at the
event said, "Today, we are formally on four continents across the globe,
operating in 24 countries, serving over 35 million customers and still
growing.

"We are the only bank with Nigerian origin that has extended out of Nigeria to
the UAE. Those before us have come through other locations and that shows the
strength and respect the Dubai authorities have for UBA. Our presence in Dubai
affirms that UBA is a strong franchise, expanding its reach across the world,"
Uzoka said.

"The authorities and business environment here in the DIFC is phenomenal and
UBA is seeing Dubai as the gateway for Africa and that is why we are here, to
be closer to our clients, to be partnering with them and facilitate businesses
and trade flows into Africa through the UBA franchise. So, we are super
excited.

On his part, the CEO, UBA(DFIC), Mr. Vikrant Bhansali, said; "Trade, commerce
and Investments in Africa is expanding in the Gulf Region and Asia. Leveraging
the presence of UBA Group in global financial centres, UBA (DFIC) will enhance
the ability of the group to facilitate access of Gulf investors and banks to
African markets. We will finance trade, facilitate commerce and help grow
investment in Africa, across all sectors."

Arif Amiri, Chief Executive Officer, Dubai International Financial
Centre(DIFC) Authority, said during the ribbon cutting ceremony "UBA(DFIC)
attests to the strong relationship between Dubai and Africa. It is a beautiful
start as we are looking forward to achieving more interaction, channelling
more trade and investments into Africa, and with UBA DIFC, we are closer to
achieving our objectives. DIFC will continue to seek partnerships that will
deliver winning relationships as we have just witnessed with UBA Group.

Distributed by APO Group on behalf of United Bank for Africa Plc (UBA).

Media Contact:
Omede OdekinaTeam Lead, External RelationsMobile: +234-8162807921E mail:
omede.odekina@ubagroup.com
Website: www.UBAGroup.com

About UBA Group:
United Bank for Africa Plc is a leading Pan-African financial institution,
offering banking services to more than thirty-seven million customers across
1,000 business offices and customer touch points in 20 African countries. With
presence in New York, London and Paris and now the UAE, UBA is connecting
people and businesses across Africa through retail, commercial and corporate
banking, innovative cross-border payments and remittances, trade finance and
ancillary banking services.
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