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The Chad News Archive

UBA to Open Office in Chad

Afrique en ligne (7/15/09)
The United Bank for Africa (UBA) will open its head office in Ndjamena, Chad, in August, the Managing Director, Rachid Outlaw, told PANA on Tuesday.

"We are here to discuss with the Chadian authorities about the opening of our bank's head office in the capital, N'Djamena. We have reached agreement with the Chadian government on this," Outlaw explained.

"We signed the agreement on 18 October, 2008, and now we are prepared to start operations," he said.

UBA Group was created in 1961 from the defunct British and French Bank Limited, a subsidiary of the National Bank of Paris (BNP), established in Nigeria in 1949.

UBA now has a balance sheet of more than 4,000 billions CFA Francs and a portfolio of customers of at least six million, with accounts spread in Africa (Nigeria, Ghana, Cameroon, Cote d'Ivoire, Uganda), in America (New York, Cayman Islands) and in Europe (England). The bank operates in 13 countries.

Chad is the second country member of the Economic and Monetary Community of Central Africa (CEMAC) after Cameroon to host the bank.
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