Lagos — Two country subsidiaries of United Bank for Africa Plc; one of the largest financial services institution in Africa, have emerged the 'Best Banks' in their respective countries. UBA Cameroon and UBA Senegal on March 19, 2013 were named 'World's Best Banks in 2013' in their respective countries by Global Finance magazine in New York.
Global Finance magazine is the world's leading corporate finance magazine with readers across 160 countries, focusing on C-suite level management, Corporates and selected financial institutions and international investors.
Global Finance editors with inputs from industry analysts, corporate executives and banking consultants, selected the best emerging markets banks in the region and in 29 countries using such criteria such as growth in assets, profitability, strategic relationships, customer service, competitive pricing, and innovative products to determine eventual winners.
Late last year, UBA Cameroon and UBA Senegal won the Bank of the Year Awards in their respective countries at the Banker Awards 2012, organized by The Banker Magazine; a publication of The Financial Times.
They have replicated the feat again in 2013 with another international magazine. "These and similar awards confirm the increasing influence of our country subsidiaries in Africa, engineering growth and development through financial intermediation and providing banking services in easy and convenient ways to the benefit of our customers and other stakeholders" said Mr. Phillips Oduoza, GMD/CEO UBA in reaction to the announcement.
Managing Director of UBA Senegal, Mrs. Amie Sow said she was delighted at the award and commended the staff for their diligence and hard work.
"we are poised to taking UBA Senegal to a greater level for the benefit of Senegal and Africa" she enthused. The same sentiments were expressed by the Managing Director of UBA Cameroon, Mr. Georges Wega. "This couldn't have come at a better time, coming in the thick of our 5 year anniversary celebrations. We thank the Cameroonian banking public for embracing us whole heatedly and the UBA Group for the support and leadership direction" said Wega.
The list of the selected top performers in the emerging markets, covers banks in Latin America, Central & Eastern Europe, Asia-Pacific, the Middle East and Africa. "Each region and individual country presents unique challenges for banks and their customers, especially under the difficult conditions global financial markets continue to face," said Joseph Giarraputo, Publisher of Global Finance. "For this reason, customers must depend on excellence in execution from their banking partners. These are the banks that are providing best-in-class solutions for these distinctive markets." he added.
Published since 1987, Global Finance has huge international readership and gives good coverage of corporate and investment banking as well as the emerging markets.
The UBA Group is an acknowledged industry leader in commercial and retail banking across Africa with operations in 19 African countries serving over 7 million customer accounts through multiple channels and remote locations.