Union Bank Gets High Ratings in SME Banking, Digital Solutions, Others
By Modupe Gbadeyanka
The huge investments made by Union Bank of Nigeria Plc in technology, small and medium enterprises, and others are beginning to yield positive results.
In the Euromoney Market Leaders Rankings for World’s Best Banks in 2022, the financial institution received five high ratings, reaffirming its strong position in the Nigerian banking sector, characterised by improved business products and services.
According to the rankings, Union Bank was recognised as ‘Highly Regarded’ in Corporate Banking, Corporate and Social Responsibility (CSR) and Environmental, Social and Governance and classified as ‘Notable’ in SME Banking and Digital Solutions.
The CSR and ESG ‘Highly Regarded’ ranking demonstrate Union Bank’s proven track record and commitment to being a responsible organisation.
Initiatives like UnionCares and the Employee Volunteer programme are examples of the positive contributions made by the lender. Beyond giving back to the communities it serves, Union Bank is also a leading advocate for sustainability.
The bank embeds sustainable practises in all its operations and has over 400 solar-powered branches and Automated Teller Machines (ATM) to buttress its goal of embracing clean energy for the reduced carbon footprint.
Union Bank was also ranked as ‘Notable’ in recognition of its significant advancements in digital solutions. In addition to already-existing online channels/tools and a variety of advanced digital payment methods designed to provide a seamless and secure banking experience, Union Bank recently launched SpaceNXT – a fit-for-purpose co-creation technology hub for visionaries, techpreneurs and innovators. This hub reflects Union Bank’s focus on developing niche technological solutions.
Another area where Union Bank ranked ‘Notable’ was SME banking, in recognition of its continued support for small businesses in Nigeria. This is in addition to the company’s recent recognition by Global Finance as the Best Bank for SMEs in Nigeria.
The Brand and Marketing Officer of Union Bank, Ms Ogochukwu Ekezie-Ekaidem, while commenting on this year’s Euromoney Market Leaders ratings, said, “We are pleased to be recognised by Euromoney as ‘Highly Regarded’ and ‘Notable’ in these five categories.”
“This recognition validates the success of our business strategy as we are a digital-led bank with a culture that embeds sustainability across all our operations using a unique triple-pillar model of Citizenship, Sustainability, and Innovation.
“We remain committed to doing our part to contribute to the environmental, socioeconomic, and financial development of our nation and continent while providing our customers with simpler, smarter solutions,” she added.
Euromoney Market Leaders is an independent global assessment of the leading financial service providers across key categories in each market. The ‘Market Leaders’ rankings take multiple sources of data, including qualitative and quantitative, to build a robust and objective picture of industry leaders.