The Paris-based BNCI formed UBCI in 1961 in anticipation of
Algerian independence, by merging its Tunis-based subsidiary, the Union Financière et Technique de Tunisie (UFITEC, , est. 1955), with BNCI-Afrique (BNCI-A, based in
Algiers) which also had operations in Tunisia. BNCI-A had been originally established in 1927 as the Union Nord-Africaine pour la Finance, l'Agriculture et l'Industrie, then renamed as Banque de l'Union Nord-Africaine (BUNA) in 1930, then again renamed as BNCI-A in 1940 after the BNCI acquired a majority stake. From its formation the UBCI had branches in Tunis (rue Mokhtar-Attia and rue Es-Sadikia),
Bizerte,
Grombalia,
Mateur,
Sfax, and
Sousse. The BEIT took over the BIAN's Tunisian network as well as the CNEP's branches in the country, the first of which had opened in 1894 in Tunis. At end-2014, UBCI had 111 branches and 1,232 employees. By 2019, BNP Paribas held 50.1 percent of UBCI. That year, it announced the sale of 39 percent to CARTE Group. The transaction was completed in March 2021, following which BNP Paribas retained an 11.1 percent stake. In late 2021, UBCI adopted a new logo and visual identity that is no longer linked with the BNP Paribas Group. ==Leadership==