United Bank for Africa (UBA) has finalised an agreement to commence full banking operations in France, marking a significant milestone in its global expansion strategy.

In a statement released Thursday, UBA announced the landmark agreement signed during President Bola Tinubu’s state visit to France.

The deal was formalised in the presence of Tinubu and French President Emmanuel Macron, with UBA Group chairman Tony Elumelu and French finance minister Antoine Armand representing their respective entities.

Mr Elumelu expressed his enthusiasm at the signing ceremony, emphasising the significance of the partnership.

“This partnership reinforces our commitment to seamless international banking services for our customers, not just across the 11 Francophone African countries we serve, but Africa as a whole and French and European customers transacting with Africa,” Elumelu said.

He added, “Expanding into France is a natural progression, with Paris serving as our European Union hub as we continue to bring Africa and the world together through innovative financial solutions. Paris will join London, New York, and Dubai as a critical component of our unique global network.”

With this agreement, UBA becomes one of the few tier-1 Nigerian banks to establish a banking presence in France, further cementing its reputation as a leading Pan-African financial institution.

Tinubu’s visit to France is the first official state visit to Paris by a Nigerian leader in over two decades, aimed at strengthening economic and diplomatic ties between the two nations.