CHAPTER ONE

INTRODUCTION

1.1   GENERAL BACKGROUND OF THE STUDY

The United bank for African plc has it’s antecedents rooted in that of its processor. British and French bank limited. The British and French bank Limited itself, metamorphosed from Banque National Pource commerce et al industries of paris (establish in 1952) Massrs E.G. Humgerbulher and C.H. Baker arrived in Nigeria in the early 1949 from BNCL, Paris.

But men made the British and French bank, Mr. Hungenblulen left shortly after the bank was established while Mr. Baker stayed back for few years as aim officer. Another big influences are the establishment of the bank was Mr. Herte Wroche. He was the head of the international division at BNCI and contributed immensely to the rapid growth of the new bank. In May, 1949, the British and French Bank began, operation in Nigeria, at 117, broad Lagos, which today house apart of the kin’s way stocks complete. The bank occupied a floor  of the building at the function of Danies and Broad street, the Bank official opened to business in  December  1949 with a  staff strength of about 12.

The bank when public under French man who was seconded from BNCI Paris in 1960 in accordance with the policy and intention of the French owns of the bank to sell of some of its shares to Nigerians. On February 23 196, the United Bank for Africa Plc was incorporated to takeover the asset and liabilities of the British and French bank. The official opening of the bank for business under the new name was on October 3rd 1961. Its registered office was at 129129 broad street, Lagos  with it  establishment UBA became  the first Bank among the international banks  operating  in Nigeria at the to be  registered under the Nigerian law.

Its paid up capital was over four million the following banking were.

• British and French bank
• Bank Nazi onaledell laurro of Italy
• Moute Dei Paschi desiena of Italy
• Banks Trust of New York, USA
• Amsterdam Rottedam Bank of Holland

By  1961 the bank  had grown from the  its one office structure  to 10 Branches located in Lagos, Kano, Kaduna and Porthacourt from that time the bank starts to grow strength  to strength. Today UBA Plc has over  two hundred and fifty branches spread across the country with experience staff posted  to every  branch. It has a string capital base and rated as third strength. Bank in the country interms of capital base and asset