United Bank for Africa (UBA) has been recognized as the Bank of the Year for Africa by The Banker, a Financial Times publication, marking the third time in five years the institution has received this prestigious award. The announcement was made at The Banker’s annual Bank of the Year Awards ceremony held in London.
In addition to the continental recognition, UBA also secured Bank of the Year awards in nine of its African subsidiaries. These include:
- UBA Benin
- UBA Chad
- UBA Republic of Congo (Congo-Brazzaville)
- UBA Liberia
- UBA Mali
- UBA Mozambique
- UBA Senegal
- UBA Sierra Leone
- UBA Zambia
This widespread recognition underscores the bank’s robust presence and strength across West, Central, and Southern Africa, highlighting the breadth and depth of its pan-African franchise.
The Significance of The Banker’s Awards
The Banker’s awards are highly esteemed within the global banking industry. They recognize institutions that demonstrate exceptional performance, innovation, and effective strategic execution. Winning these awards signifies a bank’s commitment to excellence and its ability to navigate the complexities of the financial landscape.
Commentary on UBA’s Achievement
The Banker highlighted UBA’s consistent performance and its ability to compete effectively against larger rivals in the African market. The publication noted that UBA secured nine separate country awards, exceeding its previous continental win in 2024. This represents a significant portion of the awards distributed across the continent and surpasses the achievements of its competitors.
The geographical diversity of UBA’s award-winning subsidiaries was also emphasized, spanning across various economic communities within Africa:
- Economic Community of West African States (ECOWAS): Benin, Liberia, Senegal, Sierra Leone, and Mali
- Central African Economic and Monetary Community (CEMAC): Chad, Republic of Congo
- Southern African Development Community (SADC): Mozambique, Zambia
The Banker specifically acknowledged UBA’s wins in the highly competitive categories for Benin and Mozambique as particularly noteworthy.
Financial Performance and Innovation
UBA’s strong financial performance and dedication to future growth were also key factors in its recognition. In 2024, the Group reported a substantial 46.8% increase in assets and a 6.1% rise in pre-tax profits in local currency terms. This growth was coupled with significant investments in talent development and technological advancements.
West Africa remains a core market for UBA, with operating revenue and profit increasing by 87% and 89%, respectively, in the first half of 2025.
The bank’s leadership in digital innovation was also acknowledged. Key initiatives include:
- Advance Top-Up: The launch of the “buy-now-pay-later” feature on the *919# USSD platform, which expands financial access for customers.
- Leo the Chatbot: Continued growth in transaction volumes, rising by 29% year-on-year in the first half of 2025. Notably, Leo became the first African banking chatbot to enable cross-border payments via the Pan-African Payment and Settlement System (PAPSS) in August.
Leadership Perspective
UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, expressed that the recognition validates the bank’s long-term strategy and its commitment to putting customers first.
“This honour reflects the strength of our Pan-African network, the trust of our customers, and the dedication of our people. Winning Africa’s Bank of the Year for the third time in five years is not by chance; it is a testament to disciplined execution, innovation, and a deep understanding of the markets we serve,” Alawuba stated.
He further added, “Our nine country awards across diverse regions of Africa show that UBA is not just growing, but growing with impact. We remain committed to driving financial inclusion, supporting economic development, and deploying technology that makes banking simpler, faster, and more accessible to Africans everywhere.”
UBA’s Profile
United Bank for Africa is a major employer in the African financial sector, with a workforce of 25,000 employees group-wide and serving over 45 million customers globally. The bank operates in twenty African countries, as well as in the United Kingdom, the United States of America, France, and the United Arab Emirates. UBA offers a range of retail, commercial, and institutional banking services, with a focus on promoting financial inclusion and implementing cutting-edge technology.
