February 14th at the bank’s headquarters in Lagos.
Bank DCO (Dominion, Colonial and Overseas) and through the years,
the Bank went on to become one of Nigeria’s leading financial institutions.
Bank DCO was renamed Barclays Bank Nigeria Limited following the
enactment of the Companies Act of 1968. In 1971,
the bank was listed on the Nigerian Stock Exchange and the Nigerian
government acquired a stake making it a wholly Nigerian –owned bank. In
1979, following a public offering, the bank was renamed Union Bank of
Nigeria to reflect the new ownership structure.
anniversary is being marked five years after the bank was acquired by a
new international investor group in 2012. Following this, the new
management team led by Chief
Executive Officer, Mr. Emeka Emuwa, embarked on a transformation
programme to reposition Union Bank with the objective of becoming a
leading provider of quality financial services in Nigeria.
a defined business model focused on customer segments across retail,
commercial and corporate banking, Union Bank is now positioned to
deliver simpler, smarter service to all its customers.
The bank has relied on technology to enhance its customer service,
maintain a reliable banking platform and the roll out of new products
especially in the retail space.
Bank continues to showcase successes of its transformation which
include the launch of more than 110 new or refurbished branches across
Nigeria; a new brand identity which has been
recognised internationally at the Transform Awards MENA; steady growth
of its customer deposits and the fastest growing mobile banking platform
in the industry with nearly 350% increase in mobile banking customers
at the kick-off event, Mr. Emuwa said, “One hundred years is no easy
feat for any institution and I am proud to be a part of this milestone
achievement at Union Bank. While we will
celebrate our past achievements, this milestone also signals the start
of our legacy for the next one hundred years. This year will be about
showcasing who we are as an organisation – a responsive corporate
citizen to our communities and a champion for sustainability
and social innovation.”
The bank will unveil activities under the three themes during the course of the year.