Mrs. Caroline Anyanwu becomes UBA’s Board member

By Eyo Nsima

United Bank for Africa, UBA, the leading pan-African financial services institution, has appointed Mrs. Caroline Anyanwu into its Board with effect from May 19, 2021.

According to UBA, Anyanwu holds a first-class degree in Statistics from the University of Ilorin and has worked extensively in the fields of accounting, taxation, credit risk, and banking throughout her career of close to four decades.

She worked at UBA from 1996-2006, where she held the position of Head, Credit Risk Management. Mrs. Anyanwu also served as the Deputy Managing Director of Diamond Bank with supervisory responsibility for risk management, until her retirement in 2019.

However, commenting on her appointment, Chairman, UBA Group, Mr. Tony O. Elumelu said: “We welcome Caroline back to the UBA Group after fifteen years. She helped develop our credit and risk management.

“Her track record leaves me in no doubt that she will be able to harness her considerable experience across the African continent to bring valuable contributions to the Group Board of UBA. Corporate governance and risk management are central to what we do at UBA and Caroline Anyanwu aligns perfectly with our vision.”

In a message obtained by The Daily, www.thedaily-ng.com, from its website, the bank stated: “United Bank for Africa (UBA) PLC is a leading pan-African financial services institution with a global footprint. We have a clear purpose to be a role model for African businesses by creating superior value for all our stakeholders.

“The British and French Bank Limited (BFB) commenced business in Nigeria. BFB was a subsidiary of Banque Nationale de Credit (BNCI) Paris, which transformed its London branch into a separate subsidiary called the British and French Bank, with shares held by Banque Nationale de Credit and two British investment firms: S.G. Warburg and Company and Robert Benson and Company.

“Following Nigeria’s independence from Britain, UBA was incorporated on 23rd, February 1961 to take over the business of BFB. UBA eventually listed its shares on the Nigerian Stock Exchange (NSE). UBA eventually listed its shares on the Nigerian Stock Exchange, in 1970 and became the first Nigerian Bank to subsequently undertake an Initial Public Offering (IPO).

“Today’s UBA emerged from the merger of the dynamic and fast-growing Standard Trust Bank, incorporated in 1990, and UBA, one of the biggest and oldest banks in Nigeria. The merger was consummated on August 1, 2005; one of the biggest mergers done on the Nigeria Stock Exchange (NSE). Following that merger, UBA went ahead to acquire Continental Trust Bank in the same year, further expanding the UBA brand. UBA also subsequently acquired Trade Bank in 2006 which was under liquidation by the Central Bank of Nigeria (CBN).

“UBA had another successful combined public offering rights issue in 2007 and made further banking acquisitions of three liquidated banks namely; City Express Bank, Metropolitan Bank, and African Express Bank. The bank also acquired Afrinvest UK, rebranding it UBA Capital, UK. The quest to build a strong domestic and African brand intensified in 2008 when UBA made further acquisitions of two liquidated banks, Gulf Bank and Liberty Bank.”

It added: “UBA has been intensifying its African footprint with the establishment of UBA Cameroon, UBA Cote d’Ivoire, UBA Uganda, UBA Sierra Leone, and UBA Liberia as well as the acquisition of a 51% interest in Banque Internationale du Burkina Faso, which was the largest bank in the country with 40% market share. Currently, UBA has 20 African subsidiaries.”