UBA Group

What UBA Group does

United Bank for Africa Plc (UBA Group) is a pan-African financial services group founded in 1949 and headquartered at 57 Marina, Lagos. The bank provides retail, commercial, corporate, and institutional banking services across 20 African countries with international wholesale banking operations in New York, London, Paris, and Dubai, serving over 45 million customers through 1,000+ branches. Listed on the Nigerian Exchange (NGX) with a GDR Programme since 1998, UBA is one of Nigeria's Tier 1 banks with a capital base of N513 billion after completing CBN recapitalization requirements in early 2026.

UBA's product portfolio centers on a digital banking ecosystem built around the UBA Mobile App (RedApp) with 10 million+ downloads, the Leo AI-powered virtual banker, USSD (*919#) banking for feature-phone customers, internet banking, and digital instant account opening. Supporting infrastructure includes RedPay POS terminals at 55,000+ merchant locations, the MONI microfinance app, and an integrated diaspora banking platform spanning asset management, pensions, insurance, real estate, and healthcare through partnerships with United Capital, Africa Prudential, Heirs Insurance, Afriland Properties, and Avon Healthcare. The technology stack includes Huawei cloud infrastructure (delivering 69% reduction in transaction processing times) and a decade-long development partnership with VERICASH and CWG.

UBA generates revenue primarily through net interest income from lending (N4.6 trillion combined interest income across nine leading Nigerian banks in Q1 2026), transaction and fee income from digital banking and trade finance, wholesale correspondent banking, and targeted financing programs including a $100 million Drive to Own vehicle financing scheme with Lagride and a N5 billion women entrepreneurs/MSME facility from the Bank of Industry. The bank serves customer segments spanning retail individuals, SMEs and micro-entrepreneurs, large corporates, sovereigns, and African diaspora populations, with sales-led enterprise field sales supported by digital self-serve channels.

Name

UBA Group

Legal name

United Bank for Africa Plc

Website

https://ubagroup.com

Company type

Public

Founded year

1949

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

UBA Group is a pan-African universal bank operating in 20 African countries plus UK, US, France, and UAE, serving over 45 million retail, SME, corporate, institutional, and diaspora customers through 1,000+ branches and digital banking platforms including the RedApp, Leo AI assistant, and RedPay POS network.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021), State Commercial Banks (6022)

akta.pro primary industry

General SME & Middle-Market Commercial Banking (FSABABAA)

akta.pro secondary industries

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), SME Trade Finance & Working Capital (LCs, Guarantees, Receivables) (FSABABAF), Account & Balance Services (Operating accounts, statements, eBAM) (FSABAIAD), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

Keywords

• Retail banking services
• Corporate and institutional banking
• Pan-african commercial banking
• Digital mobile banking
• Diaspora banking services

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Net Interest Income: Interest income from lending activities minus interest paid on deposits. The bank generated N4.6 trillion in combined interest income for nine leading Nigerian banks in Q1 2026, with UBA among top five borrowers from international financial institutions (N924 billion from IFC and Afrexim in 2025).
2. Transaction and Fee Income: Fees from account maintenance, transfers, trade finance, foreign exchange transactions, and digital banking services. Cross-border payment services through Leo chatbot and PAPSS integration generate fee income.
3. Corporate and Institutional Banking: Wholesale banking services including project finance, trade finance, cash management, and correspondent banking. Serves African corporates, financial institutions, sovereigns and global partners through UK and US subsidiaries.
4. Diaspora Banking Services: Banking, investments, insurance, pensions, real estate and healthcare services for diaspora customers. Platform developed in partnership with United Capital, Africa Prudential, UBA Pensions, Afriland Properties, Heirs Insurance Group, and Avon Healthcare.
5. Vehicle Financing: $100 million Drive to Own vehicle financing scheme providing loans to commercial drivers through 10% equity payment with 48-month repayment. Targets financial inclusion and urban mobility development.

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels11 records

Core offering

United Bank for Africa Plc provides retail, commercial, corporate, and institutional banking services across 20 African countries plus the UK, US, France, and UAE through 1,000+ branches, digital channels (Mobile App, USSD, internet banking), and a 55,000+ merchant POS network. The bank also delivers trade finance, correspondent banking, diaspora banking, SME/MSME lending, project finance, and AI-powered conversational banking through its Leo chatbot.

Product overview

UBA Group operates as a pan-African financial services institution offering a comprehensive digital banking ecosystem across 20 African countries plus the UK, US, France, and UAE. The core product portfolio centers on the UBA Mobile App (RedApp) with AI-powered assistant Leo for conversational transactions, supported by digital account opening, USSD banking (*919#), and internet banking platforms. The ecosystem extends to next-generation PoS terminals, the MONI app for merchant acquiring, and a diaspora banking platform integrating asset management, pensions, insurance, and real estate through partners including United Capital, Africa Prudential, Heirs Insurance Group, and Avon Healthcare. Additional offerings include trade finance services through UBA UK, a GDR Programme for international investors, and specialized SME and corporate banking solutions.

Differentiator

Problem solved

Functional benefit

Brands

• Leo: AI-powered virtual banker assistant supporting conversational transactions including transfers up to N5 million and foreign currency operations. Leo became the first African banking chatbot to enable cross-border payments via PAPSS.
• RedApp
• MONI
• UBA Foundation

Products and services

• UBA Mobile App (RedApp) The main mobile banking application for retail and SME customers enabling balance checks, bill payments, account opening, loan access, transfers up to N5 million, and 24/7 chat support. Available on iOS and Android with over 10 million downloads across 20+ countries, built through a decade-long partnership with VERICASH and CWG.
• Leo AI-Powered Virtual Banker AI-powered conversational banking assistant enabling money transfers up to N5 million, airtime purchase, bill payments, balance checks, foreign currency operations, and (since August 2025) cross-border payments via PAPSS — the first African banking chatbot with this capability. Transaction volumes grew 29% year-on-year in H1 2025.
• Digital Instant Account Opening End-to-end digital account opening platform incorporating digital KYC checks, document upload, identity verification and account number issuance, eliminating the need for an initial branch visit. Available across UBA's 20 African markets and international subsidiaries.
• Diaspora Banking and Investment Platform Integrated digital platform serving Africans abroad with banking, payments, savings, investments, insurance, real estate, pensions, and healthcare services through a partner ecosystem, designed to redirect the $100 billion annual African remittance flow from short-term consumption into long-term structured investments.
• Next-Generation POS Terminals and MONI App Next-generation PoS terminals and revamped MONI mobile application enabling merchant acquiring and payment acceptance across 55,000+ UBA merchant locations, with cross-platform integration supporting MoMo PSB mobile wallets and other payment methods.
• Internet Banking Web-based online banking platform providing account management, transactions, trade finance and corporate banking services accessible via browser.
• USSD Banking (*919#) USSD-based mobile banking service enabling basic banking transactions via feature phones, including the Advance Top-Up buy-now-pay-later feature that expands financial access for customers without smartphone access.
• Global Depositary Receipt (GDR) Programme Programme enabling foreign institutional investors to hold and trade UBA shares quoted and traded in US dollars without repatriating funds into Nigeria, listed with CUSIPs 90953F104 (144A) and 90953F203 (Reg S).
• UBA UK Trade Finance Trade finance services from UBA UK addressing the estimated $80 billion annual African trade finance gap, leveraging UBA's presence across 20 African countries in partnership with British International Investment (BII) to support African corporates, financial institutions, sovereigns and global partners.
• Drive to Own Vehicle Financing $100 million Drive to Own vehicle financing scheme providing loans to commercial drivers through 10% equity payment with 48-month repayment, partnering with Lagride, CIG Motors, and Lagos State Government. Targets financial inclusion and urban mobility development, with CNG vehicles supporting Lagos State's sustainability goals.
• BOI Women Entrepreneurs and MSME Loan Facility N5 billion loan facility from Bank of Industry (BOI) featuring 9% interest rate, three-year term, maximum N5 million per borrower, and three-month moratorium. Targets women entrepreneurs, green energy, education, and healthcare sectors for MSME growth.
• Retail Current and Savings Accounts Core retail deposit products offered to over 45 million individual customers through UBA's 1,000+ branch network and digital channels across 20 African countries plus diaspora locations.

Quantifiable outcome

• Transaction volume growth of 29% year-on-year for Leo chatbot in H1 2025
• +3 more outcomes

Named customers8 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration15 records

AI capability6 records

Feature6 records

Partnerships

17 partnerships are on record, tiered core and strategic.

• MoMo PSB (MTN Nigeria)coreTechnology or Integration · 6 May 2026Cross-platform payments partnership integrating MoMo mobile wallets with UBA's merchant-acquiring network through Redtech's RedPay infrastructure. Enables MoMo customers to pay at over 55,000 UBA merchant locations. Plans to extend to other African markets where both operate.
• RedtechcoreTechnology or Integration · 6 May 2026Payment infrastructure partnership providing RedPay POS terminals processing over N278 billion in transactions. Integrated with UBA's merchant-acquiring network and MoMo PSB mobile wallets enabling cross-platform cardless payments.
• MastercardstrategicTechnology or Integration · 3 May 2026Fintech Conference participant at UBA's inaugural event. Discussed bank-fintech collaboration, regulation, innovation and payments evolution with over 20 fintechs and ecosystem stakeholders.
• VisastrategicTechnology or Integration · 3 May 2026Fintech Conference participant. Joint discussions on payments evolution, regulation and bank-fintech collaboration across Africa's financial ecosystem.
• NIBSSstrategicTechnology or Integration · 3 May 2026Nigeria Inter-Bank Settlement Scheme participated in UBA's Fintech Conference representing regulatory infrastructure for payment system interoperability.
• Nigerians in Diaspora Commission (NiDCOM)coreStrategic or Co-development Partner · 23 March 2026Diaspora investment partnership formalized at UBA's UK office. Collaboration aims to position Diaspora Capital as permanent pillar of Nigeria's economic development. NiDCOM Chairman Abike Dabiri-Erewa praised partnership and emphasized highlighting positive narratives about successful Nigerians abroad.
• UBA PensionscoreStrategic or Co-development Partner · 19 February 2026Diaspora banking ecosystem partner providing pension management services for Africans abroad. Part of comprehensive platform integrating banking, investments, insurance, real estate and healthcare.
• Afriland PropertiescoreStrategic or Co-development Partner · 19 February 2026Diaspora banking platform partner providing real estate services for Africans living abroad. Integrated with banking, asset management, pensions, insurance and healthcare ecosystem.
• Heirs Insurance GroupcoreStrategic or Co-development Partner · 19 February 2026Diaspora banking ecosystem partner providing insurance products. Part of comprehensive platform serving Global Africans with integrated financial services beyond remittances.
• Avon Healthcare LimitedcoreStrategic or Co-development Partner · 19 February 2026Diaspora banking platform partner providing healthcare financing and services. Integrated into ecosystem serving Africans abroad with comprehensive financial solutions.
• United CapitalcoreStrategic or Co-development Partner · 15 February 2026Diaspora banking and investment ecosystem partnership. United Capital provides asset management services as part of integrated platform serving Africans abroad with banking, investments, insurance, pensions, real estate and healthcare through single ecosystem.
• Africa Prudential PlccoreStrategic or Co-development Partner · 15 February 2026Diaspora banking platform partnership integrating registrars and investor services. Platform aims to redirect Africa's $100 billion annual remittance flows from consumption to structured investments.
• VERICASHcoreTechnology or Integration · 28 January 2026Decade-long partnership producing UBA Mobile App with over 10 million downloads across 20+ countries. Dedicated Centre of Excellence functions as strategic extension of UBA's digital teams supporting scalability and continuous service delivery. Cited as reference model for digital banking infrastructure across Africa.
• CWGcoreTechnology or Integration · 28 January 2026Decade-long technology partnership with VERICASH developing UBA Mobile App. Enables fintech-level convenience while maintaining compliance and scale advantages of established financial institution.
• LagridecoreStrategic or Co-development Partner · 18 December 2025$100 million Drive to Own vehicle financing scheme. UBA provides financing, Lagride offers technology-driven mobility platform with data-driven credit scoring. Targets 3,500 drivers with 10% equity payment and 48-month repayment. Aligns with Lagos State's sustainability goals using CNG vehicles supplied by CIG Motors.
• CIG MotorscoreStrategic or Co-development Partner · 18 December 2025$100 million vehicle financing partnership. CIG Motors supplies CNG vehicles for Lagos ride-hailing fleet. Partnership supports Lagos State's sustainability goals and driver asset ownership program.
• Lagos State GovernmentcoreStrategic or Co-development Partner · 18 December 2025$100 million Drive to Own vehicle financing scheme supporting urban mobility development. Lagos State provides regulatory support and sustainability alignment for transportation initiative targeting 3,500 drivers.

Scale indicators17 records

Recent moves10 records

Expansion highlights7 records

Direct peers

• Access Bank Plc: Largest Nigerian commercial bank by total assets, competing head-to-head with UBA across retail, corporate and digital banking; won Banker's Nigeria Bank of the Year 2026 and pursues its own pan-African expansion.
• Guaranty Trust Holding Company (GTCO): Leading Nigerian bank with strong digital and retail franchise, similar tier-1 capitalization, and a comparable push into pan-African and digital banking — direct competitor for the same Nigerian retail and SME wallet.
• Zenith Bank Plc: Tier-1 Nigerian commercial bank with significant corporate banking share; named alongside UBA in CBN's HoldCo reforms requiring capital buffer compliance. Comparable in scale, customer base and pan-African aspirations.
• First Bank of Nigeria (FBN Holdings): Nigeria's oldest banking group, holding a similar diversified retail, corporate and institutional franchise with pan-African subsidiary network. Comparable in customer scale and product breadth.
• Ecobank Transnational Incorporated: Pan-African banking group headquartered in Lomé with presence across ~30 African countries; competes directly with UBA in cross-border payments, trade finance and corporate banking across West and Central Africa.

Broad incumbents

• Standard Bank Group: Africa's largest bank by assets, headquartered in South Africa; competes with UBA in cross-border African trade finance, corporate banking and increasingly in the West African wholesale banking market.
• Absa Group: Pan-African banking group with strong East and Southern Africa presence; competes with UBA Kenya and broader regional franchise. Won Banker Kenya/Mauritius Bank of the Year 2026.

Regional players

• Equity Group Holdings: East African banking champion headquartered in Kenya with expanding DRC, Uganda and Tanzania footprint; competes with UBA Kenya and broader UBA East Africa presence in SME and digital banking.
• Bank of Africa (BMCE): Moroccan-headquartered pan-African bank with subsidiary network across Francophone Africa; competes with UBA in Francophone West and Central African markets and won Banker's Morocco award 2026.

Others

• ICICI Bank: Indian private sector bank where UBA UK's incoming CEO Loknath Mishra previously served as MD/CEO; relevant adjacent for cross-border correspondent, trade finance and diaspora banking practices UBA is emulating.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Customer concentration

• Xx.com/ubagroup
• YouTubeyoutube.com/user/UBAGroupVideos
• Facebookfacebook.com/ubagroup
• LinkedInlinkedin.com/company/uba
• Instagraminstagram.com/ubagroup

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries6 records

Funding overview

Funding rounds4 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about UBA Group