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Union Bank begins centennial celebration, redesigns for industry leadership

After months of hype, one of the first generation commercial banks, Union Bank Nigeria Plc Tuesday commenced the celebration of its 100th anniversary in Nigeria with a promise to keep celebrating its stakeholders, impacting the environment and maintaining a leadership position in its markets.

The Group Managing Director, Mr. Emeka Emuwa in his keynote remarks, said the lender would use lessons learnt and experiences gained in the last 100 years to lead into the future.

He linked innovation, growth, impact and leadership as core drivers of the bank’s operations and activities, saying “100 years is no easy feat for any institution and I am proud to be a part of this milestone achievement at Union Bank. While we will celebrate our past achievements, this milestone also signals the start of our legacy for the next 100 years”.

“This year will be about showcasing who we are as an organisation – a responsive corporate citizen to our communities and a champion for sustainability and social innovation.”

While unveiling the guiding theme for the bank’s 100th celebrations which is “Celebrate, Impact and Lead,” he said Union bank will unveil activities under the theme during the course of the year.

He observed that the bank had redesigned itself to become a leader in its markets despite the challenging business environment currently by the economy, noting that Union Bank will still doing better.

It would be recalled that Union Bank was established in 1917 as Colonial Bank and in 1922, Barclays Bank acquired it, changing the name to Barclays Bank DCO (Dominion, Colonial and Overseas) and through the years, the bank went on to become one of Nigeria’s leading financial institutions.

Barclays Bank DCO was renamed Barclays Bank Nigeria Limited following the enactment of the Companies Act of 1968.

Far away 1971, the bank was listed on the Nigerian Stock Exchange and the Federal Government acquired a stake, making it a wholly Nigerian –owned bank. In 1979, following a public offering, the bank was renamed Union Bank of Nigeria to reflect the new ownership structure.

Besides, the 100th anniversary is being marked five years after the bank was acquired by a new international investor group in 2012.

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