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Ubank Limited

Overview:

Ubank is a well-established financial services provider that has grown over the years and managed to entrench itself primarily within the gold and platinum mining communities.

The mandate and plan to service the broader working market in South Africa has become imperative in order to extend affordable financial services to South Africa. We have a strong presence and customer accessibility, mainly in selected mining and rural communities in South Africa.

History:

Ubank has a rich history of providing basic financial services to mineworkers and their families for over 30 years. In 1975 when other financial institutions largely ignored this sector of the market, Teba Cash Financial Services was formed to provide mineworkers with basic financial services. This included facilitating the remittance of funds to families and dependants in the rural areas using a linked account facility.

In the early nineties, South Africa was undergoing fundamental change as a country and the Godsell, Motlatsi Commission was formed, instigating the transition of the savings fund into a commercial bank.

In June 2000, Ubank (Then Teba Bank), was granted a banking license, although its ownership remained in the form of a Trust managed by trustees who areelected by the National Union of Mineworkers and the South African Chamber of Mines. The beneficiaries of the Trust are the Bank`s customers.

In 2007, Ubank welcomed Mark Williams as its Chief Executive, and saw a new vision, mission, values and strategy being brought to life. Essentially, this sawthe Bank preparing itself to become the "Workers Bank of Choice".

In October 2010, the name of the Bank was changed to Ubank and launched to the public. Since the birth of the new brand and strategy, various initiatives to improve and expand the business have been delivered.

Ubank is driven by a social consciousness that underpins all we do - our customers are our owners and we exist to serve them through the provision of financial services that meet their needs and improve their lives.

We are proud of our long association with the mining industry, including: Mineworkers, the National Union of Mineworkers, the Mines and the Chamber of Mines who have played a significant role in the development of this Bank.

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