United Bank for Africa (UBA) Plc has announced its financial results for the six months ending June 30, 2025, reporting a profit after tax of N335 billion.
The bank submitted its audited half-year financial statements to the Nigerian Exchange Limited (NGX) yesterday, revealing notable increases in both gross earnings and net profit, reflecting a solid expansion of its financial position.
Despite the prevailing global economic challenges affecting Nigeria and other key African markets where UBA operates, the bank’s gross earnings surged by 17.28%, climbing from N1.371 trillion in June 2024 to N1.608 trillion during the current period.
Interest income experienced a substantial rise of 32.89%, moving from N1.003 trillion last year to N1.334 trillion, while total assets grew by 9.71%, reaching N33.3 trillion compared to N30.3 trillion at the close of 2024.
Customer deposits also saw a significant boost, increasing by 11.9% to N27.6 trillion, up from N24.6 trillion recorded at the end of the previous year.
The report further indicated that profit after tax increased by 6.06%, from N316.36 billion in June 2024 to N335.53 billion in the current half-year. Although profit before tax slightly declined from N401 billion to N388 billion, shareholders‘ equity remained robust, rising 23% from N3.41 trillion in December 2024 to N4.22 trillion in June 2025.
Oliver Alawuba, UBA’s Group Managing Director and CEO, emphasized the bank’s dedication to delivering sustained value to its shareholders. He stated, “Our half-year performance demonstrates the resilience of our operations and the confidence our customers place in us. We achieved impressive double-digit growth in earnings across our markets, with profit after tax increasing year-on-year to N335 billion from N316 billion, validating the effectiveness of our strategic initiatives.”
Providing an update on the ongoing rights issue, Alawuba reassured investors that UBA is progressing well toward its 2025 financial targets. “We have successfully completed Phase I of our Rights Issue, raising N234.3 billion, which strengthens our capital base and supports our expansion plans. Phase II is currently in progress, and we remain on course to fulfill the new capital requirements by year-end,” he added.
Ugo Nwaghodoh, Executive Director of Finance & Risk Management at UBA, highlighted the group’s strong revenue growth, noting that gross earnings reached N1.61 trillion, propelled by a 32.9% increase in interest income and a 14.6% rise in net interest income.
“Deposits grew by 11.9% to over N27.5 trillion, underpinning the balance sheet’s expansion to N33.3 trillion. Shareholders’ funds increased by 23.3% to N4.22 trillion. Our capital adequacy and liquidity ratios remain comfortably above regulatory minimums, providing a solid foundation for ongoing growth,” he explained.
Looking ahead, Nwaghodoh outlined the bank’s strategic priorities for the remainder of the year: “We aim to accelerate growth and market penetration, enhance operational efficiency, expand digital revenue streams, and uphold rigorous risk management practices.”
