Fidelity Bank Enter Binding Agreement to Acquire Union Bank UK plc

Fidelity Bank, Nigeria have entered into a binding agreement for the acquisition of 100percent equity stake in Union Bank UK. Fidelity Bank are a publicly listed and well-positioned Nigerian bank headquartered in Lagos. In their press announcement on Tuesday 30th August 2022 Mrs. Nneka Onyeali-Ikpe, the Managing Director/Chief Executive Officer of Fidelity Bank Plc said:

“This transaction aligns with our strategic plan of expanding our service touchpoints beyond the Nigerian market and providing straight-through services that meet and exceed the needs of our growing clients. The diverse service bouquet and business model of Union Bank UK offers a compelling synergy, and we hope to build on the existing capacity to create a scalable and more sustaining service franchise that will support the wider ecosystem of our trade businesses and diaspora banking services.”

We remain a fully incorporated UK bank under the name Union Bank UK plc, with no changes made to the services that we currently provide.