• 1948 : The British and French Bank Limited (“BFB”) commenced business in Nigeria. BFB was a subsidiary of Banque Nationale pour le Commerce et l’Industrie (BNCI).
• 1961 : Following Nigeria’s independence from Britain, UBA was incorporated on 23, February 1961 to take over the business of BFB.
• 1970 : UBA eventually listed its shares on the Nigerian Stock Exchange (NSE) and became the first Nigerian bank to subsequently undertake an Initial Public Offering (IPO).
• 1984 : UBA opened its New York Office (USA) in May 1st to offer banking services to Africans in Diaspora. It became the first sub-Saharan bank to take its banking business to North America.
• 2004 : UBA Ghana Limited commenced operations
• 2005 :
Merger of Standard Trust Bank, incorporated in 1990 and UBA.
UBA acquired Continental Trust Bank, further expanding the UBA brand.
• 2006 : UBA acquired Trade Bank which was under liquidation by the Central Bank of Nigeria (CBN).
• 2007 :
UBA 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.
UBA Cameroon commenced operations in December.
• 2008 :
UBA made further acquisitions of two liquidated banks, Gulf Bank and Liberty Bank while at the same time intensifying its African footprint.
UBA Uganda commenced operations in May.
UBA Liberia was granted a full banking license by the Central Bank of Liberia (CBL) on July 17. It opened its first business office immediately after.
UBA Sierra Leone received its license to commence operations in Sierra Leone on 22nd July 2008
UBA Chad was granted a banking license on September 2. It opened its doors in 2009.
Acquisition in November by UBA Group of a 51% interest in Banque Internationale du Burkina Faso (Now UBA Burkina Faso).
UBA Group acquired on December 31st, Continental Bank - Benin (CBB). It became UBA Benin.
UBA Kenya Bank Limited was formed as a wholly owned subsidiary of UBA plc, in November and later licensed by the Central Bank of Kenya (CBK). The Bank opened its doors to the public on October 7, 2009.
UBA Guinea was licensed in December 2008 and it opened its doors to the public in February, 2010.
• 2009 :
UBA France opened its doors on March 13.
UBA Senegal opened its doors to the public in May.
UBA Côte d'Ivoire commenced operations on the 23rd of May.
UBA Tanzania started its operations in October, 2009.
UBA Chad opened its doors to the public.
UBA Gabon has started business on Monday, November 16.
• 2010 :
UBA Zambia started operations on Monday, 11 January.
UBA Mozambique started operations in November.
• 2012 : On 13 December, UBA Plc was restructured into a Monoline Commercial Banking Model in order for it to fully comply with the new CBN guidelines for commercial banks in Nigeria.