By Sofiyyah Layole
United Capital Plc has reported a profit after tax (PAT) of ₦21.17 billion for the nine months ended September 30, 2025, showing a 32.4 percent increase from ₦15.98 billion recorded in the same period of 2024.
The performance was driven by strong growth in fee income, trading gains, and fair value gains on investments, according to the company’s unaudited financial statement released to the Nigerian Exchange Limited (NGX).
Gross earnings rose significantly by 47.5 percent to ₦41.54 billion in Q3 2025 compared to ₦28.16 billion in the corresponding period of 2024. Fee and commission income surged by 57.4 percent to ₦16.54 billion, while investment income grew to ₦11.32 billion from ₦8.42 billion in 2024.
Net trading income also saw a sharp increase to ₦9.74 billion, from ₦3.41 billion in the previous year, reflecting improved performance in the capital markets.
Similarly, the total operating expenses rose by 65 percent to ₦18.40 billion from ₦11.14 billion in 2024, driven by higher operating costs due to business expansion and inflationary pressures. Personnel expenses increased to ₦5.10 billion, while other operating expenses rose to ₦11.75 billion.
Operating profit before tax grew to ₦25.01 billion in 2025 from ₦18.73 billion in 2024, representing a 33.6 percent increase. Despite a higher tax expense of ₦3.84 billion for the period, United Capital maintained strong earnings momentum.
The Group’s total assets crossed the ₦1.8 trillion mark, rising to ₦1.87 trillion in Q3 2025 from ₦1.70 trillion in December 2024. This was largely boosted by growth in investment securities, which closed at ₦1.15 trillion, and cash and cash equivalents, which increased to ₦474.44 billion.
Total shareholders’ funds grew by 72.2 percent year on year to ₦229.91 billion as of September 2025, compared to ₦133.50 billion in December 2024. Retained earnings climbed to ₦46.50 billion, while fair value reserves rose significantly to ₦173.78 billion due to mark-to-market gains on financial instruments.
The company’s earnings per share (EPS) improved to 157 kobo, up from 118 kobo recorded in 2024 on an annualised basis. The company paid an interim dividend of ₦14.4 billion during the period, highlighting its strong capital position and consistent shareholder return policy.