United Bank for Africa (UBA) Plc, Nigeria’s financial solutions powerhouse has been voted the Bank of the Year by the organisers of the This Day Awards for Excellence 2007.

Tagged National Champions, World Class Brands, this year’s award, which comes on the heels of the naming of UBA as the largest bank in Nigeria by acclaimed financial industry rating agency, Agusto & Co as well as the emergence of the bank as the Bank with the Best Branch network by Vanguard Awards a couple of weeks ago, has further confirmed the bank’s institutional leadership of the Nigerian financial services industry in terms of processes and performance.

UBA’s warrant on this claim is justified given that the bank has consistently secured several industry firsts through its history.

The judges for the award considered the bank’s record setting N1trillion balance sheet and contingents for year ended September 30 2006, the first of such record by any bank in Nigeria and West Africa. Recognition was also given to the bank’s frontline position in funds disbursement under the Small-Scale Enterprises Equity Investment Scheme.

The organizers praised UBA for being a “very dynamic and well focused bank” that has led the way in the development of electronic payment solutions in Nigeria, as well as its creative selection of alliance partners for the benefit of the Nigerian economy.

Also of importance to the organizers are the bank’s listing among the top 100 sub-Saharan African banks; the award of African Business Leader of the Year to the Group Managing Director and Chief Executive Officer of the bank, Mr. Tony Elumelu as well as the bullish expansion drive of the bank which has seen it move from about 230 branches post-consolidation to nearly 500 business offices about eighteen months down the line.

Reacting to the award, the Group Managing Director and Chief Executive, UBA, Mr. Tony Elumelu gave credits to the staff of the Bank for the feat.

Mr. Elumelu said although the bank has a vision to be among the top businesses in Africa, “it looks like the motivation of the staff of the bank, their zeal and commitment would make this happen earlier than envisaged.

He thanked the organizers for the prudence that led to the emergence of UBA as Nigeria’s Bank of the Year in 2007, saying that This Day Awards has contributed in the enthronement of best practices in Nigeria’s corporate and political arena

He said the Awards has projected Nigerian companies and individuals globally and urged them not to rest on their laurels but to “keep up the tempo of hard work that will take Nigeria to the top of the world.”