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Project Brief – UBA II

28-aoû-2015

The Bank will take a USD 50 million equity stake in UBA within the context of its current share capital increase being conducted through a public offer of shares on the Nigerian Stock Exchange taking place in April 2007. Total equity investment from the proposed Public Offer is expected to raise NGN54 billion (USD 400 million) in new capital. This capital increase will enable UBA to undertake a comprehensive domestic and regional expansion program. Domestically, UBA intends to undertake an ambitious branch network roll-out, which will increase its branch network by 70% from the current 500 to 850 branches. This will enable UBA to capture deposits from the unbanked mid-mass market. Reach is a critical factor for capturing this segment in a country the size of Nigeria. It is estimated that less than 10% of Nigerians have a bank account. UBA Management also plans to grow its loan book aggressively through the branch network to distribute its retail products,which include mortgages, insurance, e-products and eventually credit cards. Only 8% of lending in the banking industry is to the retail market. Consequently, the key to growth in Nigeria lies in the effective distribution of lending products

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