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, as the lender continues to reposition its balance sheet for sustainable growth.
In its audited results released to Nigerian Exchange Limited on Friday, the bank also recorded an 11.8 per cent growth in customer deposits to N27.2 trillion, compared with N24.3 trillion in the prior year, reflecting sustained customer confidence and expansion across its markets.
Gross earnings stood at N3.09 trillion, slightly below the N3.19 trillion posted in 2024, but underpinned by resilient core business operations and contributions from its diversified Pan-African franchise.
However, profitability was impacted by significant but largely non-recurring charges, including loan loss provisions of N331 billion and fair value losses on derivatives amounting to over N270 billion. The bank noted that these items, driven by prudent risk management and balance sheet clean-up, are not expected to recur at similar magnitudes in subsequent periods.
Despite these headwinds, UBA delivered operating profit of over N1 trillion before the exceptional items, underscoring the strength of its underlying earnings capacity.
The Group’s capital position remained robust, with shareholders’ funds rising to N4.25 trillion from N3.42 trillion in 2024. Share capital and premium climbed to about N504 billion following a successful rights issue, while its capital adequacy ratio stood at 23.2 per cent, providing significant headroom for future expansion.
The bank said it has intensified recovery efforts on delinquent loans, with a strengthened recovery team aggressively pursuing impaired exposures. Recoveries from these facilities are expected to flow directly into earnings from 2026 and beyond.
UBA’s international operations continued to play a pivotal role in performance, contributing more than 50 per cent of total assets, revenue and profit. Regional performance was particularly strong, with West Africa recording 53 per cent profit growth, while East and Southern Africa posted a 61 per cent increase.
Commenting on the results, Group Managing Director/Chief Executive Officer, Oliver Alawuba, said the bank’s performance reflects the strength of its diversified business model, despite moderation in bottom-line growth.
He noted that the 2025 financial year was shaped by proactive compliance with new recapitalisation requirements introduced by the Central Bank of Nigeria, with the Group raising N395 billion in additional capital through an oversubscribed rights issue.
Alawuba added that UBA has continued to invest in technology and digital platforms to scale payment solutions and drive non-interest income across its markets.
Looking ahead, the bank expects improved earnings as macroeconomic conditions stabilise, with plans to expand its risk asset base in key sectors. Management projects over N1 trillion in additional growth in the near term, supported by stronger fundamentals and recovery of previously provisioned loans.
Also speaking, Executive Director, Finance & Risk Management, Ugo Nwaghodoh, said the bank’s decision to recognise potential credit losses early positions it for more sustainable earnings going forward.
He added that prior-year derivative gains and foreign exchange-related impacts, which weighed on non-interest income in 2025, are unlikely to recur at similar levels, creating upside potential for future profitability.
With operations in 20 African countries as well as the United States, United Kingdom, France and the United Arab Emirates, UBA serves over 45 million customers globally and employs about 25,000 people, maintaining its position as one of Africa’s leading financial services groups.
