United Bank for Africa (UBA) has announced the opening of a new office in Saudi Arabia as part of its strategic expansion into key global and African markets. The bank’s Group Managing Director, Oliver Alawuba, disclosed the move during UBA’s Half-Year Business Review in Lagos.
The Saudi office, expected to launch in January 2025, will mark UBA’s second presence in the Gulf region, following the establishment of its Dubai office in 2022. Alawuba said the move is aimed at deepening financial ties between Africa and the Middle East, especially to support cross-border trade, investment, and services for the African diaspora.
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UBA also revealed plans to scale operations in additional African countries, as part of its broader push to solidify its pan-African presence. The bank currently operates in 24 African countries, as well as in the United Kingdom, the United States, France, and the United Arab Emirates.
Alawuba noted that over 51 per cent of the bank’s revenue now comes from outside Nigeria, indicating the growing importance of its international operations.
UBA serves more than 45 million customers globally and employs over 25,000 people. The bank said it remains committed to becoming a truly global financial institution anchored in Africa.
