The United Bank for Africa (UBA) Plc, has recorded growth across its major business segments, driven by strong earnings as the bank releases its financial performance for the half-year ended June 30, 2025.
According to a statement released by the bank, it explained that its audited financials released to the Nigerian Exchange Limited (NGX) on Thursday, showed that the bank recorded significant growth in its gross earnings and profit after tax, signalling robust balance sheet expansion.
For instance, at the end of the first two quarters of the year, and despite the tough global macroeconomic climate in Nigeria and major countries in Africa where the bank operates, UBA’s gross earnings grew by 17.28%, rising from N1.371 trillion in June 2024 to N1.608 trillion in the period under review.Interest income also increased by 32.89% from N1.003 trillion in June last year to N1.334 trillion, while total assets went up by 9.71% to N33.3 trillion up from N30.3 trillion recorded in December 2024. Total Customer deposits, also leapt by 11.9% 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% 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 as it increased by 23% from N3.41 trillion in December 2024, to N4.22 trillion in June 2025.
UBA’s Group Managing Director/Chief Executive Officer, Mr. Oliver Alawuba, commended the results, pointing out that it 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.
We have made significant progress on our capital raising programme. Phase I of our Rights Issue was successfully 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,” Alawuba stated.
UBA’s Executive Director Finance & Risk Management, Ugo Nwaghodoh, said the Group delivered strong top line growth, with gross earnings rising to N1.61 trillion, driven by a 32.9% increase in interest income and a 14.6% uplift in net interest income.
“Deposits expanded by 11.9% to over N27.5 trillion, supporting balance sheet growth to N33.3 trillion, while shareholders’ funds rose 23.3% 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, driving efficiency gains, scaling digital-led income streams and maintaining disciplined risk management.”
