Alawuba: UBA’s Diversified Businesses Act as Hedge against Financial Risks Gilbert Ekwugbe Africa’s Global Bank, United Bank for Africa (UBA) Plc has said that its diversified business model in key international markets on
Africa’s Global Bank, United Bank for Africa Plc has said that its diversified business model in key international markets on the continent and around the world continues to act as a hedge and to position the Group to better mitigate business risks arising from the financial, economic and political environment.
As he highlighted the various challenges plaguing banks and financial institutions in Africa and beyond, including credit risks, market risks and even operational risks, Alawuba explained that with UBA’s vast foray into key markets, the bank has put in place solutions that will help hedge against losses arising such risks.
He added that the International Banking Conference was aimed at proffering solutions, noting that African banks were afforded the opportunity to come together, share experiences and acquire tactical strategies to address the continents’ big financial challenges. The well-attended event saw the convergence of senior representatives from leading African Banks, Sovereigns, Central bankers, and key players in the global financial landscape.