The United Bank for Africa (UBA) Plc, Africa’s Global Bank, has announced a strong financial performance for the third quarter ended September 30, 2025, delivering consistent growth in profitability and maintaining a robust balance sheet despite a challenging macroeconomic environment.
According to the bank’s audited financial results released to the Nigerian Exchange Limited (NGX) on Thursday, UBA recorded a profit after tax (PAT) of N537.53 billion, representing a 2.3% increase from N525.31 billion in the corresponding period of 2024. The modest yet steady rise underscores the Group’s sustained earnings momentum, efficient risk management, and strategic growth execution across its global operations.
Earnings Growth and Profitability
UBA’s gross earnings rose to N2.469 trillion as of September 2025, up 3.0% from N2.398 trillion recorded a year earlier. The performance was driven largely by higher interest income and improved transaction volumes across its African subsidiaries and international branches.
The bank’s net interest income also improved significantly, climbing 6.2% to N1.172 trillion, up from N1.103 trillion in the previous year. However, profit before tax (PBT) slipped slightly by 4.1%, settling at N578.59 billion, compared to N603.48 billion in 2024. Despite this dip, the bank achieved higher profit after tax, reflecting effective cost optimisation and tax management strategies.
Commenting on the results, Oliver Alawuba, UBA’s Group Managing Director/CEO, praised the bank’s ability to deliver solid results in a volatile economic environment. “We have continued to demonstrate the strength, resilience, and diversification of our franchise across all markets. Our performance this quarter highlights prudent balance sheet management, innovation, and strong customer engagement,” he said.
Balance Sheet Strength and Shareholders’ Value
UBA maintained its reputation for financial strength and stability, reporting total assets of N32.492 trillion, a 7.2% increase from N30.323 trillion at the end of December 2024. The rise was driven by focused deposit mobilisation and strategic investments in earning assets.
Customer deposits grew by 7.7% to N26.54 trillion, up from N24.651 trillion at the end of 2024, demonstrating sustained customer confidence in the bank’s service delivery and digital banking infrastructure.
Similarly, shareholders’ funds surged by 25.8% to N4.301 trillion, from N3.418 trillion in December 2024 — a testament to the bank’s strong internal capital generation, profitability, and investor confidence.
Alawuba noted that the successful completion of Phase II of UBA’s Rights Issue, as part of Nigeria’s ongoing recapitalisation drive, has further strengthened the bank’s capital position. “Our recapitalisation efforts have significantly boosted our capital base, supporting our continued expansion and ability to seize growth opportunities across markets,” he said.
Focus on Sustainable and Digital Growth
UBA’s Executive Director of Finance and Risk, Ugo Nwaghodoh, explained that the Group’s steady growth in gross earnings to N2.47 trillion was largely driven by a 10.1% increase in interest income and a 6.2% uplift in net interest income. He added that UBA’s capital adequacy and liquidity ratios remain well above regulatory requirements, providing strong buffers for sustained growth.
“Shareholders’ funds expanded by 26% to N4.3 trillion, underscoring investors’ confidence in our strategy. Our focus remains on disciplined execution, efficient cost management, and delivering consistent value,” Nwaghodoh stated.
Looking ahead, UBA plans to consolidate its performance by deepening digital innovation and expanding its non-interest income base. The bank aims to leverage technology to enhance customer experience, increase financial inclusion, and boost profitability.
UBA’s Continental and Global Footprint
United Bank for Africa stands as one of the most diversified financial institutions on the African continent. With operations in 20 African countries and offices in the United Kingdom, United States, France, and the United Arab Emirates, the bank serves over 45 million customers globally. It employs more than 25,000 staff, providing retail, commercial, and institutional banking services across diverse markets.
Through its digital transformation strategy, UBA continues to lead in financial inclusion and cross-border payments, supporting trade and investment flows within Africa and between the continent and major global markets.
Conclusion
UBA’s third-quarter results reflect a resilient business model and strong fundamentals. Despite currency volatility, inflationary pressures, and tight monetary conditions, the Group continues to post solid earnings, a growing balance sheet, and expanding shareholder value. With a profit after tax of N538 billion and assets surpassing N32 trillion, UBA reaffirms its position as one of Africa’s most stable and profitable financial institutions, well-poised for sustained growth into 2026 and beyond.
