nigeria type public company traded as nse ubn industry financial services founded 1917 headquarters 36 marina lagos island lagos lagos state nigeria key people cyril akporuere odu chairman emeka emuwa group managing director total assets us 6.784 billion ngn 1.049 trillion 2012 website http www.unionbankng.com union bank of nigeria plc. commonly known as union bank of nigeria is a commercial bank in nigeria . contents 1 overview 2 history 3 member companies 4 ownership 5 branch network 6 board of directors 7 management board 8 see also 9 references 10 external links overview edit union bank is a large commercial bank serving individuals small and medium sized companies as well as large corporations and organizations . in july 2009 it was rated the 556th largest bank in the world and the 14th largest bank in africa . as of june 2012 the bank s asset base was estimated at us 6.784 billion ngn 1.049 trillion . the shareholders equity at that time was estimated at us 1.22 billion ngn 188.4 billion . 1 history edit the bank was founded in 1917 as colonial bank . in 1925 barclays bank acquired colonial bank changing the bank s name to barclays bank dominion colonial and overseas or barclays bank dco . in 1969 barclays bank dco was incorporated in nigeria as barclays bank of nigeria limited to comply with new banking laws enacted in 1968 . in 1971 the shares of the bank stock were listed on the nigerian stock exchange . in the same year 8.33 % of the bank s shares were offered to nigerians . the following year the federal government of nigeria acquired 51.67 % ownership of the bank leaving barclays bank plc. of london with 40 % ownership . in 1979 that 40 % was sold to nigerian individuals and businesses to comply with then recently enacted banking and investment laws . the bank changed its name to union bank of nigeria plc to reflect its new ownership structure . in 1993 the federal government of nigeria completely divested its ownership in the bank . subsequently union bank of nigeria plc. acquired the formeeuniversal trust bank plc and broad bank limited . it also absorbed its former subsidiary union merchant bank limited . member companies edit the companies that comprise the union bank of nigeria plc include 2 subsidiaries union bank united kingdom plc. union homes savings and loans plc. union trustees limited union assurance company limited banque internationale du benin cotonou utl communications services limited ubn property company limited union capital markets limited union registrars limited union express limited courier company affiliated companies consolidated discounts limited hfc bank ghana limited unique venture capital management company limited ownership edit the shares of union bank of nigeria are listed on the nigerian stock exchange 3 under the ticker symbol ubn . as at june 2013 the owners of the shares of union bank of nigeria include the following corporate entities and individuals 4 union bank of nigeria stock ownership rank name of owner percentage ownership 1 union global partners limited 63.57 2 other investors 15.36 3 asset management company of nigeria 21.08 total 100.00 union global partners limited is a consortium of financial institutions that include the following aca holdings limited & aca managed fund netherlands development finance company standard chartered private equity auctor capital carlye capital of washington dc high vistar the keffi group viii llc keffi group jc flowers bgi african development corporation ag and atlas mara co nvest limited discovery group of connecticut united states of america . asset management company of nigeria is an arm of the federal government of nigeria . branch network edit the bank maintains a vast network of interconnected branches in all nigerian states . it has two wholly owned bank subsidiaries ; one in cotonou benin and another in london in the united kingdom . it also maintains a representative office in johannesburg south africa . 5 board of directors edit the bank s activities are supervised by a thirteen member board of directors chaired by senator udoma udo udoma one of the non executive directors a former senator of the federal republic of nigeria . 6 management board edit the management board is chaired by mr emeka emuwa who serves as the managing director and chief executive officer of the bank . he has been at the helm of the bank since november 2012 . 7 see also edit economy of nigeria list of banks in nigeria union bank uk references edit 30 june 2012 financial data union bank of nigeria 2012 annual report pdf . union bank of nigeria . december 31 2012 . retrieved december 27 2014 . nigerian stock exchange issuers listed securities company details union bank of nigeria . nigerian stock exchange . december 23 2014 . retrieved december 27 2014 . shareholding in union bank of nigeria the branch network of union bank of nigeria members of the board of union bank of nigeria emeka emuwa is the md & ceo of union bank of nigeria external links edit official website google finance listing for union bank of nigeria v t e economy of nigeria currency nigerian naira communications banking communications history of trade transportation industries agriculture yam production tourism retrieved from https en.wikipedia.org w index.php title union bank of nigeria & oldid 740816953 categories banks of nigeriabanks established in 1917companies of nigeriacompanies based in lagoscompanies listed on the nigerian stock exchangehidden categories pages using infobox company with unsupported parametersofficial website different in wikidata and wikipedia navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages fran ais edit links this page was last modified on 23 september 2016 at 13 41 . text is available under the creative commons attribution sharealike license ; 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