Post by miriammuraba on Oct 26, 2009 4:31:50 GMT 4
United Bank of Africa Group
(Lagos)
UBA - No Interest in Oceanic Bank
17 October 2009
Our attention has been drawn to the story in the Saturday Sun Newspaper of October 17, 2009 that United Bank for Africa Plc (UBA) is contemplating the purchase of Oceanic Bank Plc.
The management of UBA Plc wishes to inform the general public, our customers, shareholders, regulators and other stakeholders that this story is without substance.
UBA Plc has no intention of acquiring, merging or taking any interest in Oceanic Bank Plc and neither has it approached nor held any talks in whatsoever manner with anybody with respect to this.
Whilst UBA Plc has been very supportive of the ongoing banking sector reforms, our focus at this point in time is on organic growth, achieved through leveraging our large retail and commercial distribution network and product strength in Nigeria, across Africa and globally.
(Lagos)
UBA - No Interest in Oceanic Bank
17 October 2009
Our attention has been drawn to the story in the Saturday Sun Newspaper of October 17, 2009 that United Bank for Africa Plc (UBA) is contemplating the purchase of Oceanic Bank Plc.
The management of UBA Plc wishes to inform the general public, our customers, shareholders, regulators and other stakeholders that this story is without substance.
UBA Plc has no intention of acquiring, merging or taking any interest in Oceanic Bank Plc and neither has it approached nor held any talks in whatsoever manner with anybody with respect to this.
Whilst UBA Plc has been very supportive of the ongoing banking sector reforms, our focus at this point in time is on organic growth, achieved through leveraging our large retail and commercial distribution network and product strength in Nigeria, across Africa and globally.