Wednesday 7 September 2022
Nigeria-headquartered United Bank for Africa (UBA) has extended its operations to the Middle East with the launch of a new branch at the Dubai International Financial Center (DIFC) in Dubai.
The multinational financial services group has been in operation for over seven decades and is currently present in 20 African countries as well as in the United Kingdom, the United States, and France.
United Bank for Africa Plc will be regulated by the Dubai Financial Services Authority (DFSA), the financial regulatory agency of DIFC.
DIFC is a business and lifestyle destination that has more than 3,644 registered companies and is home to the region’s largest financial ecosystem.
The new UBA branch will service corporate and financial institutions and customers across the Middle East, with a focus on correspondent banking, relationship management, and advisory services.
Leveraging the group’s presence in global financial centers, the DIFC branch will also facilitate access for Gulf investors and banks into African markets.
With the opening of the Dubai branch, UBA now operates in 24 countries on four continents, serving over 37 million customers. It is the only Nigerian bank that has expanded to the UAE.