Nigeria's United Bank for Africa launches operations in Mozambique.

By bne IntelliNews November 24, 2010
Nigeria's United Bank for Africa (UBA) has started operations in Mozambique bringing the number of banks in the country to 16, Mozambique's central bank announced. The Lagos-based bank is present in 19 African countries. UBA offers universal banking services to more than 7.5mn customer accounts from over 750 branches across Africa. In the third quarter of 2010, the bank's African subsidiaries accounted for up to 11.3% of the group deposits and 12.4% of the gross revenues.

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