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Union Bank has unveiled a new branch, offering premium services exclusively to elite banking customers, according to a statement released on Tuesday.

With a unique architectural design and aesthetics, the new branch – called the Elite Banking Lounge – allows customers to access the bank’s products and services, including premium services. It is located at Muri Okunola Street in Victoria Island, Lagos, Nigeria’s commercial capital city.

Speaking at the unveiling event, Emeka Emuwa, Union Bank’s CEO, said the new branch is a reflection of the bank's new identity and innovation to provide excellent services to its customers.

"Many of you may know that next year, Union Bank will be a 100 years old. So what we are doing today is a reflection of the journey to modernize the bank and get ready for the future," Emuwa said.

“This location is one of the first that reflects our refreshed identity. You would see that the Stallion is different from what it used to be,” Union Bank’s CEO added. “In addition to refreshing and remodeling our network, what we have done is introduce simpler and smarter products. We have also unveiled our online and mobile banking platforms."

Union Bank said more Elite Banking Lounges will be rolled out in coming days in major cities like Abuja, Lagos, and Port Harcourt.

Founded in 1917, Union Bank is one of the oldest banks in Nigeria. In 2012, Union Global Partners Limited, a consortium of local and international investors, paid $500 million to acquire 65 percent stake in Union Bank from the Asset Management Corporation of Nigeria (AMCON), which had taken over the bank in the aftermath of the banking crisis in 2009. In the last quarter of 2014, Atlas Mara, a London-based investor in African banks, paid $270 million to acquire AMCON’s remaining 20 percent stake in Union Bank.