UBA stimulates economic growth with lending services’

Pan African financial institution, United Bank for Africa (UBA) Plc has emphasised its commitment to the support of businesses and financial inclusion in Africa through its array of consumer lending products.

While credit is the livewire for most businesses globally, the lack of access to funding has challenged businesses, especially in Africa.

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However, UBA said it has deepened its consumer product offerings with the aim to deliver services that will empower the customers, thus stimulating economic growth on the continent.

UBA’s Head, Consumer Lending, Anant Rao, during a virtual media parley said the bank focuses on this critical aspect to ensure that the customers are delighted.

“UBA takes consumer lending very important because of the active role it plays in economic development.

“And this is why consumer lending is very essential to us, as it is the category of financing centred on individual and household consumers, which includes personal loans extended to people who use the funds for individual or family purposes as well as home and auto loans.

“Today in UBA, we make the following loan products available to our customers: UBA Personal Loan; Credit Card; Advance to Pensioners; Education Loan; Auto Loan; Asset Finance; Insurance Premium Financing; UBA Mortgage, among others,” he said.

Speaking on the UBA’s Click Credit, he said the facility makes instant cash available to customers with salary accounts within minutes.

“Available to all salaried customers, the Click Credit product is an instant loan with no form of documentation, paperwork or queues and is available within seconds of request. In fact, anybody who owns a mobile phone can borrow from UBA,” Rao said.

He also said the product can also be accessed via USSD, Leo, U-Mobile and Internet Banking.

While emphasising that UBA will use consumer credit as a means to an end to satisfy the full range of a family’s financial needs and aspirations across Africa, the consumer banking boss took time to talk about the innovations that drive the bank’s business including Mobile Banking, Internet Banking, USSD, LEO, Kastle among others.

The United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than 21 million customers, across over 1,000 business offices and customer touchpoints, in 20 African countries.

With a presence in the United States of America, the United Kingdom and France, UBA is connecting people and businesses across Africa through retail; commercial and corporate banking; innovative cross-border payments and remittances; trade finance and ancillary banking services.