The United Bank for Africa Plc (UBA) in quest to grow the shareholders’ fund going forward has planned to extend its presence in Africa from 19 countries, Nigeria inclusive, to 25 countries by 2024 in other to earns more profit.
The planned to go into more Africa countries was disclsoed by the Head, Investor Relations, UBA, Abiola Rasaq, during a media briefing in Lagos, saying the bank has developed a cost-effective strategy to achieve this plan.
Rasaq disclosed that the bank’s operating license in some of the African countries allows it to expand into some neighboring countries without raising fresh capital “The way we are going to do it this time around is a different, he added.
He stressed that initially, when we went into some of these African countries we operate today, we went in fully as a new bank.
In the countries we are targeting, based on our current strategy and the mapping that we have done, we have opportunity with the licence that we have to move into those countries, Rasaq reiterated.
“There are two different types of licences. There is the unit licence and uniform licence.