The Group Managing Director and CEO of United Bank for Africa (UBA), Oliver Alawuba, has hinted at the possibility of the bank’s share price reaching N100 ($0.07) a share as it marks its 75th anniversary.

“N100 is possible; here at UBA, we push the frontiers,” Alawuba declared during the bank’s anniversary launch in Lagos, Nigeria.

This announcement follows the bank's impressive 237% growth in share price for 2023, achieving UBA’s highest earnings and ranking among the top in the banking sector for the year.

“UBA operates across 24 countries with opportunities to connect Africa to the world. Cross-border diversification is good for earnings growth in spite of one-time FX windfall,” Alawuba stated.

“We will continue to see significant valuation growth,” he added.

UBA, one of Nigeria’s oldest banks and the first to list on the NGX in 1978 has a rich history of pioneering milestones.

It was the first bank to offer an IPO in Nigeria in 1970 and the first to be listed on the Nigerian Stock Exchange.

UBA is the only bank in Sub-Saharan Africa with a deposit-taking license in the USA, and it introduced several firsts in Nigeria, including the installation of an ATM, opening a campus branch, and launching a subsidiary in Africa with UBA Ghana.

It also boasts the first female chairperson in Nigeria's banking sector.

Moreover, UBA pioneered mobile banking in Nigeria and deployed the first chatbot in the country. Notably, 33% of CEOs in UBA’s 20 African countries of operation are women.

The Group's Deputy Managing Director, Muyiwa Akinyemi, highlighted the bank’s dedication to innovation and digital transformation to enhance customer experience.

“Additionally, our intentional commitment is to global sustainability principles and corporate social responsibility with significant impact across Africa through initiatives in education, healthcare, and environmental sustainability,” Akinyemi emphasised.