The United Bank for Africa (UBA) has officially launched a new branch in the United Arab Emirates (UAE) to expand its frontiers into Asia, the Middle East and The Pacific.
The Nigerian tier-1 bank is extending its operations to the oil-rich Middle East country with the official launch of its new branch at the Dubai International Financial Centre (DIFC) in Dubai.
The move by the bank marks its presence in 24 countries globally and on four continents!
Relishing the expansion of its footprint to the United Arab Emirates, the bank said it hopes to serve its teeming customers across the Middle East as it officially becomes the first Pan African bank to establish a branch in Dubai directly from Nigeria.
“We are expanding into the Middle East in 2022 with a banking license to operate in the United Arab Emirates,” said UBA.
“The birth of UBA Dubai is in line with our vision: global in outlook and competence, African by heart & knowledge, and a bridge to the world economy. Over the years, the Gulf, especially the UAE has become an important hub for global trade & also a trade gateway for Africa.
“UBA Dubai will serve our customers across the Middle East with a core focus on correspondent banking, trade & Treasury, whilst harnessing the opportunities the region has to offer to unlock our untapped economic potential and support our continent’s development.”
The launch was attended by Governor, Dubai International Financial Centre (DIFC), Essa Kazim; Group Chairman, United Bank for Africa (UBA), Tony Elumelu; Group Managing Director/CEO, UBA Group Kennedy Uzoka and Managing Director, UBA (DIFC Branch), Mr Vikrant Bhansali.
Bhansali has a distinguished banking career of over 25 years working in Sub-Saharan Africa, the United Kingdom, MENA and India.
He holds an LLB, Bachelor of Law degree, a Chartered Financial Analyst and a Chartered Accountant. Vikrant is also empanelled as a consultant for IFC (World Bank Group) and serves on other Boards as an Independent Non-Executive Director.
