0.0

Union Bank Of Nigeria Plc


Address: Stallion Plaza 36, Marina P.M.B 2027 Lagos, Nigeria

About Union Bank Of Nigeria Plc

This is the profile page of Union Bank Of Nigeria Plc on Manpower Nigeria. This page contains the email, contact phone number, address, website and other contact information of Union Bank Of Nigeria Plc.

Union Bank of Nigeria Plc., established in 1917, is a full-service commercial bank that caters to the retail and commercial needs of individuals, small and medium sized companies, and major corporations.

In 1925 the bank became known as Barclays Bank DCO (Dominion, Colonial and Overseas) resulting from its acquisition by Barclays Bank. Following Nigeria’s independence and the enactment of the Companies Act of 1968, the bank was incorporated as Barclays Bank of Nigeria Limited (BBNL, est. 1969).

Between 1971 and 1979, the bank went through a series of changes including its listing on the NSE and share acquisitions/transfers driven by the Nigerian Enterprises Promotion Acts (1972 and 1977); this resulted in its evolution into a new wholly Nigerian-owned entity. To reflect the new ownership structure, and in compliance with the Companies and Allied Matters Act of 1990, it assumed the name Union Bank of Nigeria Plc. (UBN “the Bank” or “Union Bank”).

In 1993, in line with its privatisation/commercialisation drive, the Federal Government divested by selling its controlling shares (51.67%) to private investors. Thus, Union Bank became fully owned by Nigerian citizens and organizations all within the private sector. During the Central Bank of Nigeria’s (CBN) banking sector consolidation policy, Union Bank of Nigeria Plc acquired the former Universal Trust Bank Plc and Broad Bank Ltd. and absorbed its one-time subsidiary, Union Merchant Bank Ltd.

Following the banking crisis in 2009 and the intervention of the CBN via Asset Management Company of Nigeria (AMCON), the bank was recapitalized in 2012 with an injection of $500 million by Union Global Partners Limited (UGPL), a consortium of local and international investors. UGPL acquired 65% of the bank’s shareholding and in the last quarter of 2014, AMCON’s remaining 20% stake in the bank was acquired by Atlas Mara. UGPL comprises:

  •  Africa Capital Alliance
  • ADC African Development Corporation
  • Corsair Capital
  • FMO (the Netherlands Development Finance Company)
  • Chandler Corporation
  • Standard Chartered Private Equity

In compliance with CBN’s Regulation 3, UBN is divesting of all non-core banking subsidiaries, which aligns with our core banking business model. Union Bank, United Kingdom (UBUK) will remain the only subsidiary of the bank.

Contact Union Bank Of Nigeria Plc



Union Bank Of Nigeria Plc Opening Hours

  • Monday 08:00 am - 05:00 pm
  • Tuesday 08:00 am - 05:00 pm
  • Wednesday 08:00 am - 05:00 pm
  • Thursday 08:00 am - 05:00 pm
  • Friday 08:00 am - 05:00 pm
  • Saturday Closed - Closed
  • Sunday Closed - Closed

Review & Rate Union Bank Of Nigeria Plc

Rating and writing reviews may help others know more about this company. What do you know about Union Bank Of Nigeria Plc? Why not drop a review and rating.

Union Bank Of Nigeria Plc Rating

Awesome
Good
Just there
Below Average
Sucks
Overall Rating

0.0 based on -1 review(s)

Union Bank Of Nigeria Plc Reviews

    No reviews yet for Union Bank Of Nigeria Plc.


© 2024 Manpower Nigeria.  All rights reserved.