Monday, March 20, 2023
The Witness Newspaper
No Result
View All Result
  • Home
  • News
  • The Nation
  • Business
  • Politics
  • Investigation
  • Opinion
  • Sports
  • Entertainment
  • South Witness
  • World
  • Health
The Witness Newspaper
No Result
View All Result
Home Business

BREAKING: Fidelity Bank to acquire Union Bank UK

Stanley Osariemen by Stanley Osariemen
August 30, 2022
in Business
H1'22: Fidelity Bank posts N25.08bn profit, declares N0.10 interim dividend

Nneka Onyeali-Ikpe, Fidelity Bank CEO

Share on FacebookShare On WhatsappShare On Twitter

Fidelity Bank Plc has said it entered a binding agreement to acquire a 100 percent equity stake in Union Bank UK Plc.

The bank said this in a corporate filing on the Nigerian Exchange Limited (NGX) signed by Ezinwa Unuigboje, the company secretary.

READ ALSO

Unity Bank appoints Bashir as acting chairman, two non-executive directors

PHOTO: Wema Bank launches ALAT Hackaholics 4.0

According to Fidelity Bank, the Central Bank of Nigeria (CBN) had issued “No Objection” letter for the deal.

It also added that the transaction is still subject to the approval of the Prudential Regulatory Authority (PRA) of the United Kingdom.

Speaking on the agreement, Nneka Onyeali-Ikpe, managing director and chief executive officer, Fidelity Bank Plc, said the was a move to expand services from the local market and diversify.

“This transaction aligns with our strategic plan of expanding our service touchpoints beyond the Nigerian market and providing straight-through services that meet and exceed the needs of our growing clients,” she said.

“The diverse service bouquet and business model of Union Bank UK offered a compelling synergy, and we hope to build on the existing capacity to create a scalable and more sustaining service franchise that will support the wider ecosystem of our trade businesses and diaspora banking services.”

The Union Bank UK commenced London operations in 1983 to provide competitive banking services, including personal banking, trade finance, treasury management, and structured trade and commodity finance which it offers to individual and corporate clients.

Last year, Titan Trust Bank ‬Limited (TTB)‭ acquired Union Bank of Nigeria Plc.

Tags: Fidelity BankFidelity Bank to acquire Union Bank UKNneka Onyeali-IkpeUnion Bank UK

Related Posts

Unity Bank appoints Bashir as acting chairman, two non-executive director
Business

Unity Bank appoints Bashir as acting chairman, two non-executive directors

March 18, 2023
PHOTO: Wema Bank launches ALAT Hackaholics 4.0
Business

PHOTO: Wema Bank launches ALAT Hackaholics 4.0

March 16, 2023
Failed transactions blamed as e-payment transactions drop to N37trn in February
Business

Failed transactions blamed as e-payment transactions drop to N37trn in February

March 15, 2023
Meta confirms plan to layoff additional 10,000 staff
Business

Meta confirms plan to layoff additional 10,000 staff

March 14, 2023
Lebanese Pound drops to historic low of 100,000 to dollar
Business

Lebanese Pound drops to historic low of 100,000 to dollar

March 14, 2023
FG generates N631.09bn tax from ICT sector in 12 months - NBS
Business

FG generates N631.09bn tax from ICT sector in 12 months – NBS

March 14, 2023
Next Post
#image_title

Fayose's brother escapes abduction

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Categories

  • Business
  • Entertainment
  • Health
  • Inside Nigeria
  • Investigation
  • Lifestyle
  • Opinion
  • Politics
  • Southern Witness
  • Sports
  • The Nation
  • The News
  • World

Recent Posts

  • Chimaroke Nnamani dumps PDP after failed re-election bid
  • Zamfara PDP raises alarm over alleged plot to manipulate gov’s LGA election result
  • Tension in Adamawa as INEC stops declaration of governorship results
  • Over voting: INEC declares Kebbi guber poll inconclusive
  • BREAKING: Abdullahi Sule re-elected as Nasarawa governor
  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy
  • Terms and Conditions

Copyright © 2022 The Witness Newspaper | All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • The Nation
  • Business
  • Politics
  • Investigation
  • Opinion
  • Sports
  • Entertainment
  • South Witness
  • World
  • Health

Copyright © 2022 The Witness Newspaper | All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.