Africa’s Global Bank, United Bank for Africa (UBA) Plc, has posted an impressive financial performance for the half-year ended June 30, 2025, recording significant growth across its key business segments despite a tough global macroeconomic climate.
The audited financial results, filed with the Nigerian Exchange Limited (NGX) on Thursday, highlight UBA’s resilience and robust balance sheet, underpinned by a sharp rise in gross earnings, interest income, and customer deposits.
Strong Earnings and Balance Sheet Expansion
UBA’s gross earnings rose by 17.28%, climbing from N1.371 trillion in June 2024 to N1.608 trillion in the review period. Similarly, interest income surged by 32.89%, up from N1.003 trillion in June 2024 to N1.334 trillion.
The bank’s total assets grew by 9.71%, reaching N33.3 trillion, compared to N30.3 trillion recorded in December 2024. Customer deposits also saw a notable jump of 11.9%, rising to N27.6 trillion from N24.6 trillion at year-end 2024.
While profit before tax dropped slightly from N401 billion to N388 billion, the bank’s profit after tax increased by 6.06%, growing from N316.36 billion in June 2024 to N335.53 billion in June 2025. Shareholders’ funds also strengthened by 23%, moving from N3.41 trillion in December 2024 to N4.22 trillion in the first half of 2025.
Management Reaffirms Commitment to Growth
Commenting on the results, UBA’s Group Managing Director/Chief Executive Officer, Mr Oliver Alawuba, emphasised the bank’s long-term strategy and resilience:
“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 success of our strategy.”
Alawuba also gave updates on UBA’s ongoing Rights Issuance Programme, stating that the first phase, which raised N234.3 billion, had been completed successfully, strengthening the bank’s capital base. With Phase II underway, UBA is confident of meeting new capital requirements by year-end.
UBA’s Executive Director, Finance & Risk Management, Mr Ugo Nwaghodoh, noted that the group delivered strong top-line growth fueled by a 32.9% increase in interest income and a 14.6% rise in net interest income.
He highlighted that deposits grew to over N27.5 trillion, while capital adequacy and liquidity ratios remain well above regulatory thresholds, positioning UBA for sustained growth.
“Our priority is to drive expansion, scale market share across all markets, enhance efficiency, grow digital-led income streams, and maintain disciplined risk management,” Nwaghodoh said.
UBA’s Pan-African Footprint
United Bank for Africa Plc serves over 45 million customers across 1,000 business offices and customer touchpoints in 20 African countries. With additional presence in New York, London, Paris, and Dubai, UBA continues to strengthen its role as Africa’s Global Bank, offering retail, commercial, and corporate banking alongside cross-border payments, remittances, trade finance, and other financial services.
Seunmanuel Faleye is a brand and communications strategist. He is a covert writer and an overt creative head. He publishes Apple’s Bite International Magazine.