Prudential Regulation Authority Grants Wholesale Banking Licence to UBA (Uk) Ltd


Wednesday, March 28, 2018 /11:20 AM / NSE 

The Prudential Regulation Authority (PRA) in the United Kingdom has granted a wholesale banking licence to United Bank for Africa (UK) Limited, a wholly owned subsidiary of United Bank for Africa Plc.

This milestone achievement will enable our subsidiary in the United Kingdom to effectively meet the growing appetite of our customers for cross border transactions. The authorization by PRA positions our Group as a natural conduit for trade, investor and donor flows to Africa as well as export flows to the developed markets.

Under the supervision of the Prudential Regulation Authority and Financial Conduct Authority, United Bank for Africa (UK) Limited will expand the scope of its operations and leverage UBA Group's strong franchise to fulfill its appetite for deepening trade finance penetration in Africa, amongst other offerings afforded by the wholesale banking licence.

In addition to a full suite of trade finance services, the operations of United Bank for Africa (UK) Limited spans all aspects of treasury services, cash management, corporate lending and wholesale deposit offerings.

Proshare Nigeria Pvt. Ltd.

Related News

  1. UBA Declares N78.6bn PAT in 2017 Audited Results,Proposes N0.65k Dividend Per Share(SP:N11.50k)
  2. UBA Plc Announces Closed Period and Dividend Consideration
  3. QFAc Pick of the Week – United Bank for Africa Plc
  4. UBA Plc - Mixed Q3 Results; Retaining Neutral Rating
  5. UBA Plc - Weighed By Expensive Funding
  6. UBA 9M 2017 Results: Consolidating on Stellar H1’17 Performance Amidst OPEX Pressure
  7. UBA Plc - Strong Earnings Run Rate Despite Marginal Miss
  8. UBA Reports Q3 2017 Results; OPEX Grew 25% YoY
  9. UBA Declares N60.92bn PAT in Q3 2017 Results,(SP:N9.23k)
  10. Banking Sector Q3'17 Earnings Outlook
  11. UBA Kicks Off 4th Annual Essay Competition
  12. UBA Plc Board Approved Financial Statements and Payment of Dividend to Shareholders
Related News