Union Bank of Cameroon Plc. (UBC), is a commercial bank

Commercial bank

After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...

 in Cameroon

Cameroon

Cameroon, officially the Republic of Cameroon , is a country in west Central Africa. It is bordered by Nigeria to the west; Chad to the northeast; the Central African Republic to the east; and Equatorial Guinea, Gabon, and the Republic of the Congo to the south. Cameroon's coastline lies on the...

. It is one of the fourteen (14) commercial banks in Cameroon, licensed by the Central Bank of Central African States, the national banking regulator.

History

The bank was established in 1999 by a network of credit unions in Cameroon, to provide retail banking services to both individuals and businesses. In 2008, Oceanic Bank International

Oceanic bank

Oceanic Bank International, commonly referred to as Oceanic Bank, is a bank in Nigeria. Oceanic provides individual, commercial and corporate banking services. -History:...

, a regional banking conglomerate

Conglomerate (company)

A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...

, based in Lagos

Lagos

Lagos is a port and the most populous conurbation in Nigeria. With a population of 7,937,932, it is currently the third most populous city in Africa after Cairo and Kinshasa, and currently estimated to be the second fastest growing city in Africa...

, Nigeria

Nigeria

Nigeria , officially the Federal Republic of Nigeria, is a federal constitutional republic comprising 36 states and its Federal Capital Territory, Abuja. The country is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in...

, acquired majority shareholding in UBC, becoming the core investor.

External links

• Website of Union Bank of Cameroon
• Website of Oceanic Bank

See also

• List of banks in Cameroon
• Oceanic Bank
  Oceanic bank
  Oceanic Bank International, commonly referred to as Oceanic Bank, is a bank in Nigeria. Oceanic provides individual, commercial and corporate banking services. -History:...
  
  
• Central Bank of Central African States
• Economy of Cameroon
  Economy of Cameroon
  For a quarter-century following independence, Cameroon was one of the most prosperous countries in Africa. The drop in commodity prices for its principal exports —petroleum, cocoa, coffee, and cotton — in the mid-1980s, combined with an overvalued currency and economic mismanagement,...