UBA Set To Begin Full Banking Operations in France, Elumelu Shares Vision, Plans

UBA Set To Begin Full Banking Operations in France, Elumelu Shares Vision, Plans

  • United Bank for Africa (UBA) has announced that it will fully begin banking operations in France
  • The agreement was signed during President Tinubu’s state visit to France, where he met with French President Emmanuel Macron
  • Nigeria and France are working towards building a stronger business relationship, and more Nigerian banks have decided to establish a presence there

Dave Ibemere, a journalist at Legit.ng, has been reporting on business for over ten years. He has deep knowledge of the Nigerian economy, stock market, and general market trends.

United Bank for Africa (UBA) has officially signed an agreement to begin full banking operations in France.

The agreement was signed in the presence of Nigerian President Bola Tinubu and French President Emmanuel Macron during President Tinubu’s ongoing state visit to France.

UBA banking service in France
UBA has full banking service in France Photo credit: Benson Ibeabuchi
Source: Getty Images

Guardian reports that the chairman of UBA Group, Tony Elumelu, expressed optimism about the partnership at the signing, emphasising UBA’s commitment to delivering seamless international banking services.

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He stated.

"This partnership reinforces our commitment to seamless international banking services for our customers, not just across the 11 Francophone African countries we serve, but also for French and European customers transacting with Africa."

Elumelu further explained that the move into France is a strategic one, positioning Paris as UBA’s European Union hub, Punch reports.

He added:

"Expanding into France is a natural progression. Paris will join London, New York, and Dubai as a critical component of our unique global network.
"We continue to bring Africa and the world together through innovative financial solutions."

Zenith Bank opens branch

Zenith Bank Plc has launched a new branch in Paris, France.

The bank announced the commissioning of its Paris branch on Wednesday, November 28, 2024, saying that the Minister of Finance, Wale Edun, performed the commissioning ceremony.

Zenith Bank, Paris is a subsidiary of Zenith Bank UK Limited, a subsidiary of Zenith Bank Plc.

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Zenith Bank launches new branch in France as Access completes acquisition of 2 banks abroad

10 banks with highest customer deposits in 2024

Ealier, Legit.ng reported that Nigerian commercial banks have recorded an increase in customer deposits so far in 2024 despite the economic situation

United Bank for Africa leads the list, followed by Access Holdings, the parent company of Access Bank

The CBN has consistently assured Nigerians that banks are safe and funds in customers' accounts are fully secured.

Source: Legit.ng

Authors:
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Dave Ibemere (Senior Business Editor) Dave Ibemere is a senior business editor at Legit.ng. He is a financial journalist with over a decade of experience in print and online media. He also holds a Master's degree from the University of Lagos. He is a member of the African Academy for Open-Source Investigation (AAOSI), the Nigerian Institute of Public Relations and other media think tank groups. He previously worked with The Guardian, BusinessDay, and headed the business desk at Ripples Nigeria. Email: dave.ibemere@corp.legit.ng.