United Bank for Africa (UBA) Plc has posted its financials for the nine months ended September 30, 2025. It recorded a profit after tax of N537.53 billion, a 2.3 per cent increase from N525.31 billion recorded in the corresponding period of 2024.
The bank’s audited financial statement filed with the Nigerian Exchange Limited (NGX) showed sustained growth across key performance indicators. Gross earnings rose by 3.0 per cent to N2.469 trillion from N2.398 trillion posted in the same period last year, while net interest income grew by 6.2 per cent to N1.172 trillion, up from N1.103 trillion recorded at the end of the third quarter of 2024.
Profit before tax, however, dipped slightly by 4.1 per cent to N578.59 billion compared to N603.48 billion recorded last year. UBA’s balance sheet remained robust, with total assets hitting N32.492 trillion, a 7.2 per cent rise from N30.323 trillion recorded in December 2024. Total deposits also increased by 7.7 per cent to N26.54 trillion, from N24.651 trillion posted at the end of last year.
Shareholders’ funds advanced by 25.8 per cent to N4.301 trillion from N3.418 trillion recorded in December 2024, reflecting strong internal capital generation and growth.
Commenting on the performance, UBA’s Group managing director and chief executive, Oliver Alawuba, said the bank continues demonstrating its business’s strength, resilience, and diversification in a dynamic operating environment.
“We delivered solid performance supported by prudent balance sheet management, innovation, and a well-diversified earnings base across all our markets,” he stated.
According to him, “with profit after tax rising to N538 billion, from N525 billion, the bank continues to reflect consistent earnings momentum and its commitment to sustainable growth, with strength in Nigeria, African network and global presence amidst persistent macroeconomic headwinds.”
Updating shareholders on the bank’s recapitalisation exercise, Alawuba said, “I am pleased to report that we have made significant progress on our capital raising, as part of the mandated industry-wide recapitalisation exercise, with the successful completion of the final phase II of the Rights Issue. This has strengthened our capital base and will support our operations’ continued, prudent expansion across our markets.”
He reaffirmed UBA’s “unwavering focus on disciplined execution and strategic growth, ensuring the delivery of sustainable returns and long-term value to all shareholders.”
UBA’s executive director of finance and risk, Mr. Ugo Nwaghodoh, also highlighted the Group’s earnings momentum and balance sheet growth.
“The Group delivered steady growth in earnings, with gross earnings rising to N2.47 trillion, driven by a 10.1 per cent increase in interest income and a 6.2 per cent uplift in net interest income,” he noted.
He added that “total assets grew by seven per cent to N32.5 trillion, supported by focused deposit mobilisation and increased investment in earning assets,” while “shareholders’ funds expanded by 26 per cent to N4.3 trillion, underscoring the continued confidence of investors in the Group’s strategy.
“Capital adequacy and liquidity ratios remain well above regulatory thresholds and provide significant buffers to support continued growth,” Nwaghodoh explained.
Speaking on the outlook for the rest of 2025, he said, “We remain focused on sustaining profitability, expanding our digital income streams, and delivering long-term value to our shareholders.”
