Fidelity Bank has finalized the process of buying back all the shares (100%) of Union Bank UK (UBUK), the British subsidiary of the Nigerian Union Bank. The Nigerian stock exchange, where Fidelity Bank is listed, said on Wednesday, September 13, that the bank has obtained the necessary regulatory approvals from the United Kingdom and Nigeria to complete this sale agreement

Union Bank UK now rebranded as Fidelity Bank UK, representing Fidelity Bank's first subsidiary outside the African continent. This acquisition is part of Fidelity Bank's expansion plans style="font-family: "Bookman Old Style”, “serif"">. It marks the bank's first foray into the international market and more specifically into the British banking market. The board of directors of Fidelity Bank expects this acquisition to “generate significant value for the group.” It will now operate as a British subsidiary of Fidelity Bank Plc.