Union Bank of Nigeria History and Customer Care Number

Filed in Articles by on February 14, 2024

Union Bank is a large commercial bank, serving individuals, small and medium-sized companies, as well as large corporations and organizations. We believe that as a customer, you’ll want to know more about Union Bank of Nigeria History, and that is what this information will provide.

Union Bank of Nigeria History and Customer Care Number

About Union Bank

Union Bank is Nigeria’s most reliable and trusted banking partner. They make lives better by delivering the simplest, smartest solutions and guaranteeing the best experience every time.

Union Bank of Nigeria (“UBN”) was established in 1917 and is one of Nigeria’s long-standing and most respected financial institutions. We offer banking services to individuals, SMEs, commercial and corporate clients.

With a robust geographical network comprising over 284 service centers and 934+ ATMs spread across Nigeria. They remain committed to helping individuals, families, and businesses grow for nearly a century.

Additional Information

They are committed to being widely recognized as Nigeria’s most reliable and trusted banking partner.

Our ambition is hinged on successfully delivering against six strategic pillars. This includes the quality of our customer experience, client base, and talent—also, banking platforms, professional standards, and earnings.

Aggressive execution of our strategy is underway, leveraging a robust transformation team largely focused on people, processes, and technology.

Vision

Union Bank is Nigeria’s most reliable and trusted banking partner.

Mission

Union Bank makes lives better by delivering the simplest, smartest solutions and guaranteeing the best experience at all times.

Core Values

Finding simpler and smarter ways to do things better every time. We are a forward-thinking bank.

History of Union Bank

The Union Bank of Nigeria history can be traced to its rich history to 1917 when it was first established as Colonial Bank.

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, they incorporated the bank as Barclays Bank of Nigeria Limited.

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.

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.

In 1993, in line with its privatization/commercialization drive, the Federal Government divested by selling its controlling shares (51.67%) to private investors.

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

Following the banking crisis in 2009 and the intervention of the CBN via Asset Management Company of Nigeria (AMCON),

Union Global Partners Limited (UGPL), a consortium of local and international investors, recapitalized the bank in 2012 with an injection of $500 million.

UGPL gained 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:

1. African Capital Alliance

2. ADC African Development Corporation

3. Corsair Capital

4. FMO (The Netherlands Development Finance Company)

5. Chandler Corporation

6. Standard Chartered Private Equity

Customer Care

Call their contact center on 01 2716816 or 07007007000. You can also send an email to [email protected]. We look forward to serving you.

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