As the Bank embarked on its transformation, he was responsible for rebuilding the business and strategically positioning Union Bank for success in the Corporate Banking space. We believe that our acquisition and vision for UBUK offers the potential for significant growth for the bank. of London with 40% ownership. Union Bank of Nigeria (UBN) Plc has entered a share sale and purchase agreement to divest 100 per cent of its equity stake in Union Bank UK Plc (UBUK).. Union Bank of Nigeria (UBN) Plc has entered a share sale and purchase agreement to divest its 100 per cent equity stake in its United Kingdom (UK) subsidiary, Union Bank UK (UBUK) Plc. For example, you can withdraw your consent to receipt of our marketing or promotional materials or unsubscribe to our newsletters, request rectification and modification of Personal Data kept by Union Bank, request for deletion of your Personal Data, be informed of and entitled to provide consent prior to the processing of Personal Data for purposes other than that for which the Personal Data were collected, request that Union Bank restricts processing of your Personal Data, request for information regarding any specific processing of your personal data. Union Bank of Nigeria’s rich history can be traced to 1917 when it was first established as Colonial Bank. MBU Capital (UK) LLP is authorised and regulated by the Financial Conduct Authority. UBN:NL 5.35 NGN. Listed on the Nigeria Stock Exchange in 1971. Share. In 1993, the Federal Government of Nigeria completely divested its ownership in the bank. [7][needs update], The management board is led by Emeka Emuwa, who serves as the Managing Director and Chief Executive Officer of the bank. Welcome to Union Bank® - Your … This category only includes cookies that ensures basic functionalities and security features of the website. In 1979, that 40% was sold to Nigerian individuals and businesses to comply with then recently enacted banking and investment laws. The bank said that following a competitive bid … Following recapitalisation in 2012 from new investors and a new Executive Management team, Union Bank has undergone an award-winning transformation programme to re-establish the bank as a leading provider of financial services in Nigeria. The shareholders' equity at that time was estimated at NGN286 billion (US$851 million). Established in 1917 and listed on the Nigerian Stock Exchange in 1971, Union Bank is a household name and one of Nigeria’s long-standing and most respected financial institutions. (Credit: Pixabay/Pete Linforth) Nigeria-based commercial bank Union Bank of Nigeria has signed an agreement to divest of its 100% equity stake in Union Bank … Subsequently, Union Bank of Nigeria Plc. Union Bank of Nigeria Plc on Tuesday announced that it had entered a share sale and purchase agreement to divest its 100percent equity stake in Union Bank UK Plc. [8], "Nigeria: Standard Chartered Group, Others Buy 65 Percent Stake in Union Bank", "Union Bank of Nigeria 2012 Annual Report", "Nigerian Stock Exchange > Issuers > Listed Securities > Company Details> Union Bank of Nigeria", The Branch Network of Union Bank of Nigeria, "Cyril Akporuere Odu, African Capital Alliance: Profile and Biography - Bloomberg Markets", Emeka Emuwa is the MD & CEO of Union Bank of Nigeria, Google Finance listing for Union Bank of Nigeria, https://en.wikipedia.org/w/index.php?title=Union_Bank_of_Nigeria&oldid=1001872482, Companies listed on the Nigerian Stock Exchange, Wikipedia articles in need of updating from November 2019, All Wikipedia articles in need of updating, Creative Commons Attribution-ShareAlike License, FMO - the Netherlands Development Finance Company, This page was last edited on 21 January 2021, at 19:56. The Bank has a network of over 300 Sales and Service Centres across Nigeria. The shares of Union Bank of Nigeria are listed on the Nigerian Stock Exchange [4] under the ticker symbol '' UBN ''. It also absorbed its former subsidiary Union Merchant Bank Limited. TeamUnion gives back; Provides the Gift of Water to Six Communities across the Country! In 2009, he was appointed to the board of Citibank Nigeria as an executive director for Commercial Banking and Global Subsidiaries. Union Bank … Union Bank is focused on Retail, Commercial and Corporate Banking businesses. Through the sale, we are better positioned to deliver greater value to the organization and its stakeholders as well as continue to build the future of banking in Nigeria. Share. Olufikayo Owoeye Jan 28, 2020. We look forward to working with our new colleagues at UBUK to continue to service the needs of its clients. Union Bank of Nigeria Plc Consolidated and separate financial statements for the period ended 30 September 2020 Profit attributable to: Equity holders of the Bank 14,986 14,960 4,257 3,286 15,511 … By Dipo Olowookere. (“Union Bank”) today announced that it has entered a … Union Bank of Nigeria (UBN) Plc has entered a share sale and purchase agreement to divest 100 per cent of its equity stake in Union Bank UK Plc (UBUK). These cookies do not store any personal information. Union Bank® offers personal and business banking, investments, commercial banking, corporate accounts and private banking services - Open a bank account today. We also look forward to sustaining and deepening relationships with UBUK’s existing trading partners.”. This website uses cookies to offer you the most relevant information. In 1969, Barclays Bank DCO was incorporated in Nigeria, as Barclays Bank of Nigeria Limited, to comply with new banking laws enacted in 1968. 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