In obvious recognition of its brand acceptance and role in facilitating economic development across Africa, six subsidiaries of pan African financial institution United Bank for Africa (UBA) Plc have been named ‘Bank of the Year 2020’,
The awards were presented to the bank by the Banker Magazine, the leading global finance news publication published by the Financial Times of London.
For the second year running, UBA’s multiple initiatives – which include its investment in digital technology, adherence to world-class customer services offerings and financing critical projects – have been recognised by organisers of the world’s leading awards in finance.
The recipient subsidiaries are UBA Benin, UBA Cote d’Ivoire, UBA Chad, UBA Liberia, UBA Sierra Leone and UBA Zambia, which emerged ‘best bank’ in their respective countries.
The 2020 edition of the awards ceremony was held virtually last Wednesday, and the exceptional win makes it the second time ever in the banker awards’ history that any banking group clinches as many as six wins in the same year.
The bank made history with the same number of awards in the 2019 edition of the Banker’s awards.
John Everington, Middle East and Africa Editor for The Banker, explained that a rigorous and highly analytical process is used to reach each Bank of the Year decision, and the institution’s reputation for independence, authority and integrity is applied to each submission.
“More banks apply for the Bank of the Year awards than any other similar process, and our access to data on each bank as well as our focus on transformation, inclusion and diversity in the industry is well known. Winning ‘Bank of the Year’ this year more than any other is an opportunity for your bank to position itself for playing a key role in what the future holds and building toward a recovery in economies in 120 countries worldwide,” Everington said.
CEO-UBA Africa, Oliver Alawuba, expressed delight over the recognition from The Banker, stating: “The recognitions come as reassurance that we are on track with consolidating our leadership position in Africa as we continue to create superior value for all our stakeholders”.
He further said: “Following the multiple awards won by UBA Group and five of our subsidiaries in 2019, this year’s awards are another testament of the hard work and increasing effort by UBA Group to impact the African continent positively.
“This award comes at a very auspicious time due to the COVID-19 global pandemic, but the UBA Group has been able to stand strong and resilient in its mandate of delivering excellent financial services to over 21 million customers across 23 countries of operation.”
Alawuba dedicated the awards to the over-20,000 bank staff, adding: “We believe that this award will spur us on in our renewed commitment to exceed customers’ expectation, always”.
Since1926, the Bank of the Year awards have been celebrating the best of global banking and is regarded as the industry standard for banking excellence; and the 2020 edition highlights those institutions which have outshone their peers in terms of performance, strategic initiatives and response to the COVID-19 pandemic.
The Banker magazine is a publication of the Financial Times – a leading global finance news publication that has been in existence since 1888. The Banker magazine is the definitive reference in international banking for high level decision-makers.
United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than twenty-one million customers across over 1,000 business offices and customer touch-points in 20 African countries. With presence in the United States of America, United Kingdom and France, 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.