UBA substitutes C for U in its name

The United Bank of Africa (UBA) yesterday announced a change of its operating name to Commercial Bank of Africa Tanzania Ltd (CBA).

CBA Chief Executive Officer Nehemiah Mchechu told reporters in Dar es Salaam, that the changes focus on turning UBA into a strong player in the corporate and personal banking market in the country.

`Our effort and resources will be channeled towards providing an efficient personal and stress free banking experience to corporate, foreign missions, NGOs and the quality end to cope with the fast growing business and economy,` he said.

He said changing the name to CBA will bring a positive revolution, including the enhancement of capital base.

Mchechu added that CBA stands also to benefit from Kenya in technological advancement and innovative products and service.

The strong business franchise of the bank and its great position gives the opportunity to better serve its client base that is expanding fast in the region, he said.

He said that using the name will bring closer ties for the bank operations across different countries adding that it will also give the opportunity to share the best practices within the group and increase the skills and knowledge of their staff.

The subscribers will benefit by having more security and being part of a bank that has a firm financial base and wide market access.

CBA is the largest privately owned commercial bank in Kenya with a focus on corporate and institutional banking and the middle to top end of the personal banking market servicing more than 30,000 customers.