United Bank for Africa Plc has posted a 9.4 per cent rise in total assets for the financial year ended December 31, 2025, as the banking group continues to strengthen its balance sheet across its African and international operations.
According to its audited results submitted to the Nigerian Exchange Limited, the bank’s assets climbed to N33.2tn from N30.3tn recorded in 2024. Customer deposits also increased by 11.8 per cent, rising from N24.3tn to N27.2tn within the period under review.
Gross earnings stood at N3.09tn, slightly lower than the N3.19tn posted in the previous year. The bank attributed the moderation to deliberate risk management actions and one-off accounting adjustments that weighed on profitability during the year.
UBA made substantial provisions for potential loan losses amounting to N331bn and recorded N278bn in fair value changes on derivatives. These items, described as largely non-recurring, reduced reported profit but were taken as part of a forward-looking strategy to ensure more sustainable earnings in the years ahead.
Despite these charges, the group reported operating profit in excess of N1tn before the exceptional items, reflecting the strength of its core banking operations across markets.
Shareholders’ funds rose significantly to N4.25tn from N3.42tn in 2024, supported by a successful rights issue that lifted share capital and premium to N505bn. The bank’s capital adequacy ratio closed the year at 23.2 per cent, providing a buffer for future expansion.
UBA noted that its subsidiaries outside Nigeria contributed more than half of the group’s assets, revenue and profit. West Africa operations recorded profit growth of 53 per cent, while East and Southern Africa delivered a 61 per cent increase, underlining the growing importance of its pan-African footprint.
Group Managing Director/Chief Executive Officer, Oliver Alawuba, said the financial year was shaped by the bank’s response to new recapitalisation guidelines from the Central Bank of Nigeria. He said the group raised an additional N395bn in capital during the year, a move that was oversubscribed by investors.
He added that investments in digital banking, payments, and technology infrastructure are expected to drive new income streams across the bank’s markets.
Looking ahead to 2026, the bank said it plans to expand its risk assets cautiously as macroeconomic conditions improve, with expectations of adding over N1tn in growth in the near term.
Executive Director, Finance and Risk Management, Ugo Nwaghodoh, explained that the bank’s decision to recognise potential credit losses early and reverse prior derivative gains and foreign exchange-related positions led to a decline in non-interest income of about N282.5bn. He expressed confidence that these factors would not recur at the same scale and could support earnings recovery in subsequent years.
UBA operates in 20 African countries as well as the United States, United Kingdom, France, and the United Arab Emirates, serving over 45 million customers with a workforce of about 25,000 employees.
