February 21, 2018 9:06 PM ET

Banks

Company Overview of Ubank Limited

Company Overview

Ubank Limited provides various financial services in South Africa. The company offers savings accounts, including fixed deposits, and 32 day notice and save together products; personal lending products; transactional accounts; funeral plan products; debit cards; cellphone banking; and airtime contracts. It serves miners and communities in rural areas and mining towns through a network of outlets, agencies, and automatic teller machines. The company was formerly known as Teba Bank and changed its name to Ubank Limited in October 2010. Ubank Limited was founded in 1975 and is headquartered in Johannesburg, South Africa. Ubank Limited is a subsidiary of Ubank Group Limited.

Sunhill Park

No. 1 Eglin Road

Sunninghill

Johannesburg,  2157

South Africa

Founded in 1975

723 Employees

Phone:

27 11 518 5000

Key Executives for Ubank Limited

CEO & Executive Director
CFO & Executive Director
Head of Internal Audit
Chief Risk Officer
Chief Information Officer
Compensation as of Fiscal Year 2017.

Ubank Limited Key Developments

UBank Seeks TO Raise Funds

UBank Limited is seeking to raise funds to stave off potential takeover. Luthando Vutula, Chief Executive of UBank, said, "UBank's capital-raising exercise and process is being handled by our transaction advisers. Various companies have shown interest in the transaction. Some of the companies have not been successful. We are cognizant of the fact that a couple of months ago Oakbay Investments confirmed in some national newsp unsuccessfully made an approach to buy UBank.”

Guptas Second Attempt To Buy Ubank

The Gupta family are aggressively wooing the shareholders of Ubank Limited in a desperate bid to buy the financial institution to ease their banking woes. David Sipunzi, General Secretary of National Union of Mineworkers said "We have been approached unofficially about the selling of Ubank to Oakbay." Oakbay Investments (pty) Limited are controlled by Gupta family.

Oakbay Investments Seeks to Buy Ubank

The Gupta family controlled Oakbay Investments (pty) Limited is aggressively wooing the shareholders of Ubank Limited, National Union of Mineworkers, in a desperate bid to buy the financial institution to ease their banking woes, as reported .

Similar Private Companies By Industry

Company Name Region
GBS Mutual Bank Middle East/Africa
Land and Agricultural Development Bank of South Africa Middle East/Africa
Peoples Mortgage Limited Middle East/Africa
Saambou Holdings Ltd. Middle East/Africa
SIB Holdings Limited Middle East/Africa

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
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