Africa’s Global Bank, United Bank for Africa (UBA) Plc, has reported impressive financial results for the half-year ended June 30, 2025, reflecting strong growth across its major business segments, driven by solid earnings and strategic execution.
According to the audited financial statements released to the Nigerian Exchange Limited (NGX) on Thursday, UBA recorded a significant increase in gross earnings and profit after tax, signaling robust balance sheet growth and resilience despite a challenging macroeconomic environment across Nigeria and other key African markets.
Key Financial Highlights:
Gross earnings rose by 17.28%, from ₦1.371 trillion in June 2024 to ₦1.608 trillion in June 2025.
Interest income surged by 32.89%, climbing from ₦1.003 trillion to ₦1.334 trillion.
Total assets increased by 9.71%, reaching ₦33.3 trillion, up from ₦30.3 trillion as of December 2024.
Customer deposits grew by 11.9% to ₦27.6 trillion, compared to ₦24.6 trillion at year-end 2024.
Profit after tax rose by 6.06%, from ₦316.36 billion to ₦335.53 billion.
Profit before tax saw a marginal dip from ₦401 billion to ₦388 billion.
Shareholders’ funds expanded by 23%, from ₦3.41 trillion in December 2024 to ₦4.22 trillion by June 2025.
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Commenting on the strong performance, Group Managing Director/CEO, Mr. Oliver Alawuba, emphasized UBA’s unwavering focus on delivering long-term value; “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 to ₦335 billion from ₦316 billion year-on-year, underscoring the resilience of our business and the success of our strategy.”
He also provided updates on the bank’s Rights Issue Programme, confirming that Phase I was successfully completed, raising ₦234.3 billion, which bolstered UBA’s capital base. He assured stakeholders that Phase II is ongoing, with the bank firmly on track to meet new capital requirements before year-end.
Executive Director, Finance & Risk Management, Mr. Ugo Nwaghodoh, attributed the bank’s robust performance to strategic focus and operational efficiency; “We delivered strong top-line growth, with gross earnings rising to ₦1.61 trillion, driven by a 32.9% increase in interest income and a 14.6% uplift in net interest income. Deposits expanded to over ₦27.5 trillion, supporting balance sheet growth to ₦33.3 trillion, while shareholders’ funds rose 23.3% to ₦4.22 trillion.”
He added that UBA’s capital adequacy and liquidity ratios remain comfortably above regulatory thresholds, providing ample buffers to support continued growth.
Looking ahead, Nwaghodoh reaffirmed UBA’s strategic priorities; “Our focus for the remainder of the year is to drive growth and expand market share, enhance operational efficiency, scale digital-led income streams, and maintain disciplined risk management.”
