UBA Records N1.608trn Gross Earnings, N335bn After-tax Profit In H1

United Bank for Africa (UBA) Plc has released its financial performance for the Half-year ended June 30, 2025, showing profit after tax of N335 billion.

The bank released its audited financials to the Nigerian Exchange Limited (NGX) yesterday. The results showed significant growth in gross earnings and profit after tax, signalling robust balance sheet expansion.

At the end of the first two quarters of the year, and despite the challenging global macroeconomic climate in Nigeria and major countries in Africa where the bank operates, UBA’s gross earnings grew by 17.28 per cent, rising from N1.371 trillion in June 2024 to N1.608 trillion in the period under review.

Interest income also increased by 32.89 per cent from N1.003 trillion in June last year to N1.334 trillion, while total assets went up by 9.71 per cent to N33.3 trillion, up from N30.3 trillion recorded in December 2024.

Total Customer deposits also leapt by 11.9 per cent in the same period to close at N27.6 trillion, up from N24.6 trillion recorded at the end of 2024.

The results filed also showed that profit after tax, which stood at N316.36 billion in June 2024, rose by 6.06 per cent to close the half-year at N335.53 billion, while profit before tax dropped slightly from N401 billion to N388 billion in the period under consideration. However, the banks’ shareholders’ funds remained strong, increasing by 23 per cent from N3.41 trillion in December 2024 to N4.22 trillion in June 2025.

The group managing director/chief executive officer, UBA, Oliver Alawuba, underscored the bank’s commitment to consistently delivering long-term value to its shareholders.
He said, “UBA’s first-half results highlight the strength of our business and the trust our customers continue to place in us. We delivered strong double-digit earnings growth across our markets, with Profit After Tax rising year-on-year to N335 billion from N316 billion, underscoring the resilience of our business and the success of our strategy.”

Giving further update on the bank’s ongoing rights issuance programme, the GMD assured shareholders and investors that UBA remains on track with its financial goals and projections for 2025.

According to Alawuba, we have made significant progress on our capital raising program. Phase I of our Rights Issue was completed, enhancing our capital by N234.3 billion and providing a stronger buffer for growth and expansion across our markets. With Phase II currently underway, we remain firmly on track to meet the new capital requirements by the end of the year.

The executive director, Finance & Risk Management, UBA, Ugo Nwaghodoh, pointed out that the Group delivered strong top-line growth, with gross earnings rising to N1.61 trillion, driven by a 32.9 per cent increase in interest income and a 14.6 per cent uplift in net interest Income.

“Deposits expanded by 11.9 per cent to over N27.5 trillion, supporting balance sheet growth to N33.3 trillion, while shareholders’ funds rose 23.3 per cent to N4.22 trillion. Capital adequacy and liquidity ratios remain well above regulatory thresholds and provide significant buffers to support continued growth”, he explained.

On the plans for the rest of the year, Nwaghodoh said, “Our priority is to pursue growth and expansion, scale and market share across markets, drive efficiency gains, scale digital-led income streams, and maintain disciplined risk management.”