Union Bank Nigeria Plc on Tuesday commenced the celebration of its 100th anniversary in Nigeria with a promise to keep celebrating its stakeholders, impacting the environment and maintaining a leadership position in its markets.
The event, which was held at the bank’s head office in Lagos, had in attendance key stakeholders including its Chairman, Mr. Cyril Odu; the Group Managing Director, Mr. Emeka Emuwa; and the Non-Executive Director, Mrs. Nike Akande.
According to him, innovation, growth, impact and leadership will drive the bank’s operations and activities in the years ahead.
The Union Bank GMD said, “100 years is no easy feat for any institution and I am proud to be a part of this milestone achievement at Union Bank. While we will celebrate our past achievements, this milestone also signals the start of our legacy for the next 100 years.
“This year will be about showcasing who we are as an organisation – a responsive corporate citizen to our communities and a champion for sustainability and social innovation.”
Emuwa also unveiled the guiding theme for the bank’s 100th celebrations which is “Celebrate, Impact and Lead.”
According to him, the bank will unveil activities under the theme during the course of the year.
In his remarks, the bank’s chairman recalled days when Union Bank was known as Barclays Bank in Nigeria.
According to him, the lender has redesigned itself to become a leader in its markets.
He added that despite the challenging business environment currently, Union Bank was still doing better.
A non-executive director of the bank, Akande, said she was proud of the achievements of the bank.
While congratulating the lender’s stakeholders for the 100th anniversary, she said members of the Board of Directors were focused and result-oriented.
“We will live to become the most successful bank,” she added
Union Bank was established in 1917 as Colonial Bank and in 1922, Barclays Bank acquired it, changing the name to Barclays Bank DCO (Dominion, Colonial and Overseas) and through the years, the bank went on to become one of Nigeria’s leading financial institutions.
Barclays Bank DCO was renamed Barclays Bank Nigeria Limited following the enactment of the Companies Act of 1968.
In 1971, the bank was listed on the Nigerian Stock Exchange and the Federal Government acquired a stake, making it a wholly Nigerian –owned bank. In 1979, following a public offering, the bank was renamed Union Bank of Nigeria to reflect the new ownership structure.
The 100th anniversary is being marked five years after the bank was acquired by a new international investor group in 2012.
Following this, the new management team led by Emuwa, embarked on a transformation programme to reposition Union Bank with the objective of becoming a leading provider of quality financial services in Nigeria.