September 16, 2014 3:38 PM ET

Banks

Company Overview of Union Bank of Nigeria Plc

Company Overview

Union Bank of Nigeria Plc provides investment, corporate, commercial, and retail banking products and services for individuals, small and medium sized companies, and corporations in Nigeria and Europe. It operates through five segments: Retail Banking, Corporate Banking, Treasury and Investment Banking, Asset Management, and Insurance. The Retail Banking segment offers private banking services, private customer current accounts, deposits, investment savings products, custody, credit and debit cards, consumer loans, and mortgages. The Corporate Banking segment provides debit facilities, current accounts, deposits, overdrafts, loan and other credit facilities, and foreign currency products. Th...

Stallion Plaza

36, Marina

P.M.B 2027

Lagos,  

Nigeria

Founded in 1917

4,588 Employees

Phone:

234 1 2716800

Fax:

234 1 2716850

Key Executives for Union Bank of Nigeria Plc

Union Bank of Nigeria Plc does not have any Key Executives recorded.

Union Bank of Nigeria Plc Key Developments

Atlas Mara Reporteldy In Talks To Buy A Minority Stake In Union Bank of Nigeria

Atlas Mara Co-Nvest Limited (OTCPK:AAMA.F) is in talks to acquire a minority stake in Union Bank of Nigeria Plc (NGSE:UBN) worth $275 million, Reuters reported citing a person familiar with the matter. Atlas Mara Co-Nvest Limited has to make a decision on whether to buy the minority stake in Union Bank of Nigeria Plc by September 7, 2014. If it chooses not to buy the stake Atlas Mara Co-Nvest Limited will have to pay a break fee of $2.5 million. Atlas Mara Co-Nvest Limited and Union Bank of Nigeria Plc declined to comment.

Union Bank of Nigeria Plc Restructures Branch Network

Union Bank of Nigeria Plc announced it has embarked on a branch restructuring exercise that will enable it deliver efficient services to its customers nationwide. The bank disclosed that at the end of its ongoing transformation exercise, its branch networks across the country would expand to a total of 435, up from the 338 presently.

Union Bank of Nigeria Announces Unaudited Financial Results for the Six Months Ended June 30, 2014

Union Bank of Nigeria announced unaudited financial results for the six months ended June 30, 2014. The company reported gross earnings was NGN 45.9 billion compared with NGN 48.1 billion for the same period in 2013. Profit after tax was NGN 6.6 billion compared with NGN 11.3 billion for the same period in 2013. Profit before tax came in at NGN 6.6 billion, down 43% year-on-year. Net interest income totaled NGN 24.5 billion at core bank, a decline of 15% year-on-year.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
September 5, 2014
--
Merger/Acquisition
March 18, 2014
Union Homes Savings and Loans Plc
 

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