Union Bank UK plc, a UK incorporated bank, is a wholly owned subsidiary of the Union Bank of Nigeria plc, one of the oldest and most respected banks in West Africa.
We have been operating from the heart of the City of London since 1983, firstly as the London branch of our parent bank, and since October 2004 as an independently incorporated UK bank, having received authorisation from the UK Regulator.
We provide a comprehensive range of banking services to customers doing business from and into Nigeria and other West African countries, including trade finance, personal banking, business banking, treasury services, commercial lending and private banking.
We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority and subscribe to the Financial Services Compensation Scheme.
Corporate Responsibility Statement
Union Bank UK recognises its Corporate Responsibility and is committed to ensuring our business practices have a positive effect on our staff, clients and society as a whole. We know that sustainable business success depends on the engagement of our people and with our community. Our approach is built on six focus areas.
- We recognise that having the right culture drives compliance with regulations and ethical standards. As such, we strive to operate at the highest standards of Corporate Conduct and Culture at all times.
- As an equal opportunities employer we look to build a motivated, diverse workforce and provide them with an inclusive environment in which to operate.
- We put the health, safety and welfare of our employees, and visitors, at the forefront of what we do.
- We support the local and Nigerian community.
- We Invest responsibly and encourage environmentally friendly and sustainable practices.
- We expect our employees, clients and vendors to operate to the same standards as we do.
Union Bank of Nigeria plc
The Union Bank of Nigeria has a long and proud history dating back to 1917, when it first opened its doors for business as the Colonial Bank. In 1925 it was bought by Barclays, becoming Barclays Bank Dominion, Colonial and Overseas which it remained until the early 1970s.
In 1971, Barclays incorporated the bank locally in Nigeria as Barclays Bank of Nigeria plc and sold a significant shareholding to the Federal Government and the Nigerian public. In 1979 the banks name was changed to the Union Bank of Nigeria plc, to reflect the change in its ownership structure.
In the early 1990s the Nigerian Government started a policy of privatisation of state owned assets, which resulted in 1993 in both the Government and Barclays selling their remaining stakes in the bank to the public at large, thus creating a truly publically owned bank.
Since the early 1990s the bank has enjoyed a period of unparalleled growth, acquiring Universal Trust Bank plc. Broad Bank Limited and Union Merchant Bank as well as increasing shareholder funds through a rights issue in 2005.
We are please to provide our latest annual reports and financial statements for download.
If you would like to see reports for previous years, please click here.