United Bank for Africa (Kenya)

United Bank for Africa (Kenya)
Private
Industry Financial Services
Founded 2009
Headquarters First Floor, Apollo Centre
Ring Road, Nairobi, Kenya
Key people
 Isaac Mwige
Managing Director
Products Loans, Checking, Savings, Investments, Debit Cards
Revenue IncreaseAftertax:US$683,259 (KES:68 million) (H1:2016)[1]
Number of employees
 70 (2016)[1]
Website Homepage

United Bank for Africa (Kenya) Limited (UBAKL), commonly referred to as UBA Kenya, is a commercial bank in Kenya. It is licensed and supervised by the Central Bank of Kenya, the central bank and national banking regulator.[2]

Overview

The bank is a small-sized commercial bank in Kenya, the largest economy in the East African Community. UBA Kenya Limited is a subsidiary of the Nigerian financial conglomerate United Bank for Africa Plc, with subsidiaries in 20 African countries, the United States, the United Kingdom and France.[3]

History

Established in 2009,[4] with capital investment of KES:2.5 billion (approx. US$25 million), the bank has accumulated losses of KES:1.4 billion (approx. 14 million) in the seven years that followed.[1][5][6] UBA Kenya made a profit for the first time during the first half of 2016.[1]

Ownership

United Bank for Africa (Kenya) is a wholly owned subsidiary of United Bank for Africa, headquartered in Lagos, Nigeria.[1][7]

Branches

The bank maintains networked branches at the following locations:[1][8]

  1. Wetlands Branch - Apollo Centre, Westlands, Nairobi (Main Branch)
  2. Upper Hill Branch - NHIF Building, Upper Hill, Nairobi
  3. Industrial Area Branch - Industrial Area, Enterprise Road, Nairobi

See also

References

  1. 1 2 3 4 5 6 Ngigi, George (21 August 2016). "UBA gets Sh1bn from Nigeria parent in push for big loans". Business Daily Africa. Nairobi. Retrieved 22 August 2016.
  2. ↑ Central Bank of Kenya (20 December 2013). "Directory of Commercial Banks And Mortgage Finance Companies" (PDF). Nairobi: Central Bank of Kenya. Retrieved 22 August 2016.
  3. ↑ Administrator (8 August 2016). "UBA: In a league of its own". Lagos: National Daily Newspaper. Retrieved 22 August 2016.
  4. ↑ Ilesanmi, Funmi (19 October 2009). "UBA Begins Operations in Kenya". Lagos: Nigeria CommunicationsWeek. Retrieved 22 August 2016.
  5. ↑ Juma, Victor (25 January 2011). "High operation costs weigh down UBA Kenya earnings". Business Daily Africa. Nairobi. Retrieved 22 August 2016.
  6. ↑ Herbling, David (13 April 2014). "West African banks struggle in Kenyan market". Business Daily Africa. Nairobi. Retrieved 22 August 2016.
  7. ↑ Chao, Sandra (20 March 2014). "UBA launches Sh50 mobile savings plan". Business Daily Africa. Nairobi. Retrieved 22 August 2016.
  8. ↑ UBA Group (22 August 2016). "About UBA Kenya". Lagos: United Bank for Africa. Retrieved 22 August 2016.

Coordinates: 01°15′34″S 36°48′16″E / 1.25944°S 36.80444°E / -1.25944; 36.80444

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