Union Bank of Cameroon Plc. (UBC), is a commercial bank in Cameroon. It is one of the commercial banks licensed by the Central Bank of Central African States, the national banking regulator. [1]
UBC was established in 1999 by a network of credit unions in Cameroon to provide retail banking services to individuals and businesses. In 2008, Oceanic Bank, a regional banking conglomerate based in Lagos, Nigeria, acquired majority shareholding in UBC, becoming the core investor. [2]
The economy of Cameroon was one of the most prosperous in Africa for a quarter of a century after independence. The drop in commodity prices for its principal exports – petroleum, cocoa, coffee, and cotton – in the mid-1980s, combined with an overvalued currency and economic mismanagement, led to a decade-long recession. Real per capita GDP fell by more than 60% from 1986 to 1994. The current account and fiscal deficits widened, and foreign debt grew. Yet because of its oil reserves and favorable agricultural conditions, Cameroon still has one of the best-endowed primary commodity economies in sub-Saharan Africa.
A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a state or formal monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Most central banks also have supervisory and regulatory powers to ensure the stability of member institutions, to prevent bank runs, and to discourage reckless or fraudulent behavior by member banks.
Financial institutions, otherwise known as banking institutions, are corporations that provide services as intermediaries for different types of financial monetary transactions. Broadly speaking, there are three major types of financial institutions:
The Union Banking Corporation (UBC) was a banking corporation in the US. Founding member and one of its seven directors was Prescott Bush. The banks assets were seized by the United States government on October 20, 1942, during World War II under the U.S. Trading with the Enemy Act and Executive Order No. 9095.
Fractional-reserve banking is the system of banking operating in almost all countries worldwide, under which banks that take deposits from the public are required to hold a proportion of their deposit liabilities in liquid assets as a reserve, and are at liberty to lend the remainder to borrowers. Bank reserves are held as cash in the bank or as balances in the bank's account at the central bank. The country's central bank determines the minimum amount that banks must hold in liquid assets, called the "reserve requirement" or "reserve ratio". Most commercial banks hold more than this minimum amount as excess reserves.
A reserve requirement is a central bank regulation that sets the minimum amount that a commercial bank must hold in liquid assets. This minimum amount, commonly referred to as the commercial bank's reserve, is generally determined by the central bank on the basis of a specified proportion of deposit liabilities of the bank. This rate is commonly referred to as the reserve ratio. Though the definitions vary, the commercial bank's reserves normally consist of cash held by the bank and stored physically in the bank vault, plus the amount of the bank's balance in that bank's account with the central bank. A bank is at liberty to hold in reserve sums above this minimum requirement, commonly referred to as excess reserves. This measure is commonly referred to as the liquidity ratio.
Money creation, or money issuance, is the process by which the money supply of a country, or of an economic or monetary region, is increased. In most modern economies, most of the money supply is created by private banks in the form of bank deposits. Central banks monitor the amount of money in the economy by measuring monetary aggregates, consisting of cash and bank deposits. Money creation occurs when the quantity of monetary aggregates increase.
The Ukrainian Credit-Banking Union is a banking association created as the Kyiv Banking Union in 1994 by twenty commercial banks operating in the city of Kyiv, Ukraine, for the purpose of cooperation between Kyiv's financial institutions, and to manage collective interaction with authorities. The organization has expanded to nearly a hundred members, operating throughout the country and in 2005 reincorporated under its current name. The Ukrainian Credit-Banking Union works with Committees of the Verkhovna Rada ; the National Bank of Ukraine ; the Ukrainian Ministry of Justice, and the tax administration of Ukraine to discuss improvement of banking legislation and other relevant matters.
Federal Bank Limited is an Indian private sector bank headquartered in Aluva, Kochi. The bank has 1,272 branches spread across different states in India. It also has representative offices abroad at Abu Dhabi, Qatar, Kuwait, Oman, and Dubai.
The Central Bank of Nigeria (CBN) is the central bank and apex monetary authority of Nigeria established by the CBN Act of 1958 and commenced operations on July 1, 1959.
Bank of British West Africa (BBWA) was a British Overseas bank that was important in introducing modern banking into the countries that emerged from the UK's West African colonies. In 1957 it changed its name to Bank of West Africa, and in 1965 was acquired by Standard Bank.
Cooperative banking is retail and commercial banking organized on a cooperative basis. Cooperative banking institutions take deposits and lend money in most parts of the world.
Commercial Bank Cameroon (CBC), also referred to as Commercial Bank of Cameroon, is a commercial bank in Cameroon. It is one of the fourteen (14) Cameroonian commercial banks licensed by the Central Bank of Central African States, the national banking regulator. The bank caters to both individuals and businesses through a variety of financial products. CBC is the flagship of the Commercial Bank Group, headquartered in Douala, Cameroon, with subsidiaries in Chad, Central African Republic, Equatorial Guinea and São Tomé and Príncipe.
National Financial Credit Bank SA (NFCB) is a commercial bank in Cameroon. It is one of the fourteen licensed commercial banks in the country.
Ecobank Nigeria Limited, commonly referred to as Ecobank Nigeria, is a commercial bank in Nigeria. It is one of the commercial banks licensed by the Central Bank of Nigeria, the national banking regulator.
Bengal Central Bank was a commercial bank based in Bengal. It was founded by J. C. Das in 1918 as the Bengal Central Loan Company. On 18 December 1950, it merged with Comilla Banking Corporation, Comilla Union Bank and Hooghly Bank to form the United Bank of India.
Union Bank of Colombo PLC, commonly referred to as UBC, is a commercial bank in Sri Lanka. It is licensed by the Central Bank of Sri Lanka, the central bank and national banking regulator.
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