By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Nigerian BankerNigerian Banker
Notification Show More
Latest News
FirstBank’s sponsored Timeless Concert by Davido connects fans, promotes culture and boosts the music industry to greater heights
April 25, 2023
FirstBank announces a name change of its subsidiaries, reiterates its commitment to business in africa and the world.   
March 31, 2023
Access Bank acquires Atlas Mara Zambia
March 25, 2023
Stanbic IBTC appoints Ndidi Nwuneli as new Director
March 25, 2023
Bank Loans with collateral Vs without collateral. Know your options
March 24, 2023
Aa
  • Home
  • News
  • Banking Personality
  • Ethical Banking
  • My Bank & I
  • Research & Analysis
  • Opinion
  • My Bookmarks
  • Contact US
Reading: Fidelity Bank to acquire 100% stake in Union Bank UK
Share
Aa
Nigerian BankerNigerian Banker
  • Banking Personality
  • Ethical Banking
  • My Bank & I
  • Opinion
  • Research & Analysis
Search
  • Home
  • News
  • Banking Personality
  • Ethical Banking
  • My Bank & I
  • Opinion
  • Research & Analysis
  • Contact
Have an existing account? Sign In
Follow US
© 2022 - Nigerian Banker. All Rights Reserved.
- Advertisement -
Ad image
Nigerian Banker > Blog > News > Fidelity Bank to acquire 100% stake in Union Bank UK
News

Fidelity Bank to acquire 100% stake in Union Bank UK

bankernaija
bankernaija August 30, 2022
Updated 2022/08/30 at 1:53 PM
Share
SHARE

Fidelity Bank Plc, Nigeria’s tier 2 Bank has secured a biding agreement to acquire 100 percent stake in Union Bank UK. This was contained in a publication made available by the bank earlier today 30th of August 2022.

The bank’s publication signed by Ezinwa Unuigboje, the Fidelity Bank PLC Company Secretary also confirmed that the Central Bank of Nigeria CBN has issued a letter of “No Objection” to the deal.

The Fidelity Bank PLC notification reads “Fidelity Bank Plc hereby notifies the General Public that it has entered into a binding agreement for the acquisition of 100% equity stake in Union Bank UK Plc, for which the Central Bank of Nigeria has issued a letter of “No Objection”.

“Union Bank UK commenced operations from the heart of the City of London 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.

Commenting on the agreement, Mrs. Nneka Onyeali-lkpe, the Managing Director/Chief Executive Officer, Fidelity Bank Plc said:

“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. 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 transaction according to the publication, is subject to the approval of the Prudential Regulatory Authority (PRA) of the United Kingdom.

Related

- Advertisement -
TAGGED: Fidelity Bank, merger and acquisition, Union Bank
bankernaija August 30, 2022
Share this Article
Facebook TwitterEmail Print
Leave a comment

Leave a Reply Cancel reply

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

Recent Posts

  • FirstBank’s sponsored Timeless Concert by Davido connects fans, promotes culture and boosts the music industry to greater heights
  • FirstBank announces a name change of its subsidiaries, reiterates its commitment to business in africa and the world.   
  • Access Bank acquires Atlas Mara Zambia
  • Stanbic IBTC appoints Ndidi Nwuneli as new Director
  • Bank Loans with collateral Vs without collateral. Know your options

Recent Comments

  1. How Nigerians in Diaspora can obtain BVN and attach it to their Nigerian Bank Account with ease – Nigerian Banker on How BVN can be used to steal money from you Bank Account

You Might Also Like

News

Access Bank acquires Atlas Mara Zambia

March 25, 2023
Banking PersonalityNews

Stanbic IBTC appoints Ndidi Nwuneli as new Director

March 25, 2023
NewsOpinion

How CBN hesitation despite SC ruling ensures continuous Naira Scarcity

March 22, 2023
Godwin Emefiele, Central Bank of Nigeria Governor
News

CBN bows at last, affirms N200, N500 and N1,000 as legal tender

March 13, 2023

Categories

  • My Bank & I
  • Banking Personality
  • Ethical Banking
  • Research & Analysis
  • Opinion

About US

Nigerian Banker is focused on being the reference and source for all banking and related information in Nigeria
Quick Link
  • My Bookmark
  • Contact Us
  • News
  • My Bank & I
Top Categories
  • Banking Personality
  • Ethical Banking
  • My Bank & I
  • Opinion
  • Research & Analysis

Subscribe US

Subscribe to our newsletter to get our newest articles instantly!

© Nigerian Banker. 2022. All Rights Reserved.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?