By Lydia Ngwakwe
Lagos, Nov. 22, 2022 Union Bank of Nigeria (UBN) Plc has received high ratings in five categories at the 2022 Euromoney market rankings.
Mrs Ogochukwu Ekezie-Ekaidem, the Chief Brand and Marketing Officer, UBN, made the announcement in a statement on Tuesday in Lagos .
The statement said that the bank was recognised as ‘Highly Regarded’ in Corporate Banking, Corporate and Social Responsibility (CSR) and Environmental, Social and Governance (ESG) and classified as ‘Notable’ in SME Banking and Digital Solutions.
“We are pleased to be recognised by Euromoney as ‘Highly Regarded’ and ‘Notable’ in these five categories.
“This recognition validates the success of our business strategy as we are a digital-led bank with a culture that embeds sustainability across all our operations using a unique triple-pillar model of Citizenship, Sustainability, and Innovation.
“We remain committed to doing our part to contribute to the environmental, socioeconomic, and financial development of our nation and continent while providing our customers with simpler, smarter solutions,” it said.
Euromoney Market Leaders is an independent global assessment of the leading financial service providers across key categories in each market.
The ‘Market Leaders’ rankings take multiple sources of data including qualitative and quantitative to build a robust and objective picture of industry leaders.
The statement added that these recognitions in five categories reaffirmed the bank’s strong position in the Nigerian banking sector characterised by improved business products and services.
It said the CSR and ESG ‘Highly Regarded’ ranking demonstrated Union Bank’s proven track record and commitment to being a responsible organisation.
It named Initiatives such as UnionCares and the Employee Volunteer programme, as examples of the positive contributions made by the bank, beyond giving back to the communities it serves.
It said that the bank was also a leading advocate for sustainability.
“The bank embeds sustainable practises in all its operations and has over 400 solar-powered branches and Automated Teller Machines (ATMs) to buttress its goal of embracing clean energy for reduced carbon footprint.
“Union Bank was also ranked as ‘Notable’ in recognition of the significant advancements the bank has made in digital solutions.
” In addition to already-existing online channels/tools, and a variety of advanced digital payment methods designed to provide seamless and secure banking experience, Union Bank recently launched SpaceNXT.
“SpaceNXT is a fit for purpose co-creation technology hub for visionaries, techpreneurs and innovators,” it said.
According to the statement, the hub reflects Union Bank’s focus on developing niche technological solutions.
It said, “another area where Union Bank ranked ‘Notable’ was SME banking, in recognition of continued support for small businesses in Nigeria.
“This is in addition to the bank’s recent recognition by Global Finance as the Best Bank for SMEs in Nigeria.”