The Nigerian banking sector has recorded another major milestone as United Bank for Africa (UBA) Group has emerged as Africa’s Bank of the Year 2025, strengthening its standing as a financial leader on the continent.
UBA, one of the largest employers in Africa’s financial services industry with about 25,000 staff and over 45 million customers worldwide, operates in 20 African countries, as well as the United Kingdom, United States, France and the United Arab Emirates. The bank provides retail, commercial and institutional banking services, with strong footprints in financial inclusion and digital innovation.
The recognition was announced at an award ceremony organised by TheBanker.com, a global finance publication of the Financial Times of London. The event, held at The Peninsula in London, saw UBA reaffirm its reputation as one of Africa’s most innovative and resilient financial institutions, securing the continental title for the third time in five years.
According to the organisers, UBA’s selection was driven by its strong financial performance and strategic investments. They noted that in 2024, the bank recorded a 46.8 per cent growth in assets and a 6.1 per cent rise in pre-tax profit (in local currency terms), alongside continued investment in talent and technology. West Africa remained the bank’s strongest region, with operating revenue and profit rising by 87 per cent and 89 per cent, respectively, in the first half of 2025.
The Banker.com also highlighted UBA’s innovation drive, stating, “During the year under review, UBA launched its Advance Top-Up buy-now-pay-later feature on the *919# USSD platform, expanding financial access for customers, while the bank’s chatbot Leo continued its strong growth trajectory, with transaction volumes rising by 29 per cent year-on-year in H1 2025. Notably, in August, Leo became the first African banking chatbot to enable cross-border payments via the Pan-African Payment and Settlement System (PAPSS).”
The publication further stated: “For the third time in five years, UBA Group has won the coveted Bank of the Year award for Africa. UBA Group time after time punches above its weight against its larger African rivals. The bank this year also takes home nine separate country awards, equivalent to around a quarter of the awards for the continent, and more than any of its continent-wide rivals.”
The awards span a wide geographic spread, including institutions operating in the Economic Community of West African States (Benin, Liberia, Senegal, Sierra Leone and former member Mali), the Central African Economic and Monetary Community (Chad, Republic of Congo) and the Southern African Development Community (Mozambique, Zambia).
UBA’s nine subsidiary awards this year bring its total wins to ten, with UBA Benin, UBA Chad, UBA Republic of Congo (Congo-Brazzaville), UBA Liberia, UBA Mali, UBA Mozambique, UBA Senegal, UBA Sierra Leone and UBA Zambia all named Best Bank of the Year in their respective markets. The recognitions underscore the depth and strength of UBA’s Pan-African franchise.
The Chief Executive Officer of UBA UK, Deji Adeyelure, received the awards on behalf of the bank, representing the Group Managing Director/CEO, Oliver Alawuba. He was accompanied by the bank’s Head of Business Development, Mark Ifashe, and Head of Financial Institutions, Shilpam Jha.
Reacting to the achievement, Alawuba said the honour validates the bank’s long-term strategy and customer-first approach.
“This honour reflects the strength of our Pan-African network, the trust of our customers, and the dedication of our people. Winning Africa’s Bank of the Year for the third time in five years is not by chance; it is a testament to disciplined execution, innovation, and a deep understanding of the markets we serve,” he said.
He added, “Our nine country awards across diverse regions of Africa show that UBA is not just growing, but growing with impact. We remain committed to driving financial inclusion, supporting economic development, and deploying technology that makes banking simpler, faster, and more accessible to Africans everywhere.”
The Banker’s Awards are widely regarded as one of the most respected and rigorous honours in the global banking sector, celebrating institutions that demonstrate outstanding performance, innovation and strategic excellence.