The former name of what is now known as United Bank for Africa (UBA) was the British and French Bank Limited (BFB).
The Origins of UBA
The institution that would eventually become United Bank for Africa commenced its business operations in Nigeria in 1948 under the name British and French Bank Limited (BFB). This initial establishment was a subsidiary of the Paris-based Banque nationale pour le commerce et l'industrie (BNCI). BNCI played a crucial role in its formation by transforming its London branch into BFB, thereby creating it as a separate and distinct subsidiary to operate in Nigeria.
Historical Snapshot
To provide a clearer overview of its initial foundation, consider the following details:
| Aspect | Detail |
|---|---|
| Former Name | British and French Bank Limited (BFB) |
| Year of Commencement | 1948 |
| Location of Initial Business | Nigeria |
| Parent Company | Banque nationale pour le commerce et l'industrie (BNCI), Paris |
| Formation Method | Transformation of BNCI's London branch into a separate subsidiary |
This foundational period as BFB laid the groundwork for the modern financial institution, UBA, demonstrating its deep historical roots in international banking and its evolution into a prominent African financial services group.
