By Damilare Adeleye
United Bank for Africa Plc has reported a 9.4 per cent increase in total assets to N33.2 trillion for the financial year ended December 31, 2025, up from N30.3 trillion in 2024.
In its audited results released on the Nigerian Exchange Limited on Friday, the bank also recorded an 11.8 per cent growth in customer deposits, which rose to N27.2 trillion from N24.3 trillion in the previous year, underscoring continued customer confidence in the pan-African lender.
Despite a marginal decline in gross earnings to N3.09 trillion from N3.19 trillion recorded in 2024, the bank said its performance remained supported by resilient core operations and its diversified footprint across Africa and international markets.
The Group noted that its 2025 performance was shaped by prudent risk management measures, including loan loss provisions of N331 billion and fair value losses on derivatives amounting to N278 billion—factors it described as largely non-recurrent.
These adjustments weighed on profitability; however, UBA maintained that its core banking strength remained intact, with operating profit exceeding N1 trillion before the impact of the exceptional items.
Further analysis of the results showed that shareholders’ funds rose significantly to N4.25 trillion in 2025 from N3.42 trillion in 2024, bolstered by a successful rights issue that lifted share capital and premium to N505 billion. The bank’s capital adequacy ratio stood at 23.2 per cent, indicating a strong buffer to support future expansion.
UBA’s international operations continued to drive growth, contributing over 50 per cent of total assets, revenue, and profit. Regionally, West Africa recorded a 53 per cent increase in profit, while East and Southern Africa posted a 61 per cent growth, highlighting the strength of the Group’s diversified model.
Commenting on the performance, the Group Managing Director/Chief Executive Officer, Oliver Alawuba, said the bank’s strategy remained firmly anchored on leveraging its geographic spread and core business strengths.
“The 2025 financial year was defined by UBA’s proactive approach to the Central Bank of Nigeria’s (CBN) new recapitalization requirements. The Group successfully concluded capital raising programme, which was oversubscribed, reflecting strong investor confidence in UBA’s long-term growth strategy. A total of N395 billion additional capital was raised, enhancing our capacity to support our footprints, and expanding lending to key sectors,” he said.
He added, “We have also made significant investments in innovation, technology and resources to drive our payment and digital offerings; this will help scale digital-led income streams across our markets.”
Projecting into 2026, Alawuba expressed optimism about the bank’s growth trajectory, stating, “Looking ahead, UBA is well-positioned to accelerate growth, with plans to strategically expand its risk asset base across key sectors as macroeconomic conditions improve. With expectations of over N1 trillion in additional growth in the near term, the Group remains committed to driving sustainable earnings, deepening financial inclusion, and delivering superior value to shareholders across all its markets.”
Also speaking, the Executive Director, Finance & Risk Management, Ugo Nwaghodoh, described the year as a period of deliberate financial strengthening.
“We believe that proactively recognizing potential credit losses positions us well to navigate uncertainties and support sustainable performance in future periods. The reversal of prior-year derivative gains and foreign exchange-related losses of N282.5 billion drove a decline in non-interest income; these will not recur in this magnitude and should result in future earnings upside,” he said.
Nwaghodoh further noted that the bank had exited the Central Bank of Nigeria’s forbearance regime in 2025, reinforcing its improved financial standing.
“With deliberate steps we have taken to reposition our Nigerian operations, we are well placed to cautiously drive risk asset growth in line with improving macroeconomic conditions. The bank is also intensifying recovery efforts on the provisioned loans, creating a clear pathway for earnings upside,” he added.
UBA operates in 20 African countries as well as the United Kingdom, United States, France, and the United Arab Emirates, serving over 45 million customers globally.