Union Bank of Cameroon Plc. (UBC), is a
commercial bank
A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit.
It can also refer to a bank, or a division of a large bank, which deals with cor ...
in
Cameroon
Cameroon (; french: Cameroun, ff, Kamerun), officially the Republic of Cameroon (french: République du Cameroun, links=no), is a country in west-central Africa. It is bordered by Nigeria to the west and north; Chad to the northeast; the C ...
. It is one of the commercial banks licensed by the
Central Bank of Central African States
The Bank of Central African States (french: Banque des États de l'Afrique Centrale, BEAC) is a central bank that serves six central African countries which form the Economic and Monetary Community of Central Africa:
*Cameroon
*Central African ...
, the national banking regulator.
History
UBC was established in 1999 by a network of credit unions in Cameroon to provide
retail bank
Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking. Banking servi ...
ing services to individuals and businesses. In 2008,
Oceanic Bank
Oceanic Bank International, commonly referred to as Oceanic Bank, was a bank in Nigeria that provided individual, commercial and corporate banking services.
History
Oceanic Bank was incorporated on March 26, 1990, as a private limited liability ...
, a regional
banking conglomerate based in
Lagos, Nigeria
Lagos (Nigerian English: ; ) is the largest city in Nigeria and the second most populous city in Africa, with a population of 15.4 million as of 2015 within the city proper. Lagos was the national capital of Nigeria until December 1991 fo ...
, acquired majority shareholding in UBC, becoming the core investor.
History of Union Bank of Cameroon
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See also
* List of banks in Cameroon
This is a list of commercial banks in Cameroon
# Access Bank Cameroon
#Afriland First Bank
# Atlantic Bank Cameroon
Banque International du Cameroun pour l'Epargne et le Crédit(BICEC)
Banque Camerounaise des Petites et Moyennes Entreprises(BC-PM ...
* Economy of Cameroon
The economy of Cameroon was one of the most prosperous in Africa for a quarter of a century after independence. The drop in commodity prices for its principal exports – petroleum, cocoa, coffee, and cotton – in the mid-1980s, combined with ...
References
External links
Union Bank of Cameroon
Banks of Cameroon
Banks established in 1999
1999 establishments in Cameroon
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