April 24, (THEWILL) — Africa’s Global Bank, United Bank for Africa (UBA) Plc, has announced its audited financial results for the year ended December 31, 2025, recording total assets growth of 9.4 percent to ₦33.2 trillion, up from ₦30.3 trillion at the end of 2024, alongside an 11.8 percent increase in customer deposits from ₦24.3 trillion in 2024 to ₦27.2 trillion.
The results released to the Nigerian Exchange Limited on Friday showed that the Group also delivered strong gross earnings of ₦3.09 trillion from ₦3.19 trillion recorded the previous year. While gross earnings fell slightly, the performance was supported by strong core fundamentals and a diversified Pan-African footprint, even as the year saw a strategic repositioning of the balance sheet for sustainable long-term growth.
Overall, the bank’s 2025 performance was impacted by prudent and forward-looking risk management decisions, including loan loss provisions of ₦331 billion and fair value changes on derivatives amounting to ₦278 billion.
These changes, which are largely non-recurrent in nature, weighed on profitability but are not expected to recur at similar magnitudes in future periods.
Despite this, the Group maintained strong underlying performance, with operating profit exceeding ₦1 trillion before these exceptional items, highlighting the resilience of its core banking operations.
Key Notes:
Strong gross earnings of ₦3 trillion and business fundamentals.
Business results for FY2025 have been impacted by material Loan loss Provisions of ₦331bn and fair value changes on derivatives of ₦227bn.
These are non-recurrent, at least not at that magnitude
Not expected to diminish the earnings for future periods
The Recovery team has been fortified and is aggressively pursuing recovery of the affected facilities. All recoveries flow straight through to P&L in FY2026 and beyond.
The bank’s share capital and premium amount to ₦504bn, resulting from Rights Issues. Shareholders’ funds at ₦4.25trillion. With a strong capital adequacy of 23.2%. This positions us for significant growth.
Bank continues to grow strategically. Deposit growth of 11.8% to ₦27.2 trillion and total asset growth of 9.4% to ₦33.2 trillion.
The bank is poised to strategically grow its Risk Asset base of choice sectors, and the macroeconomic fundamentals strengthen. This should enhance earnings and profit in FY2026 and beyond. We could see over ₦1 trillion in growth this year.
The Franchise in Africa is witnessing significant growth stories and contributing materially to the Group. Contributes over 50% of Group Assets, Revenue and Profit.
West Africa – 53% profit growth in 2025
ESA – 61% profit growth in 2025.
A critical look at the performance showed that UBA’s capital position remained robust, with shareholders’ funds rising to ₦4.25 trillion in 2025; up from ₦3.42 trillion the previous year, with share capital and premium hitting ₦505 billion following a very successful rights issue.
The Group’s capital adequacy ratio of 23.2 percent provides a solid foundation to support future growth, just as the Bank has also strengthened its recovery efforts, with a fortified recovery team aggressively pursuing delinquent exposures, ensuring that recoveries will positively impact earnings from full year 2026 and beyond.
Operating in 20 African countries and in the US, UK, France and UAE, the Group’s Pan-African operations continue to be a major growth driver, contributing over 50 percent of total assets, revenue, and profit. Notably, West Africa operations recorded a 53 percent profit growth, while East and Southern Africa delivered a 61 percent increase, reinforcing the strength and scalability of UBA’s diversified business model across the continent.
Commenting on the results, UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, said the bank continues to demonstrate the true strength of its Pan-African diversified model, despite the moderation in bottom-line performance compared to the prior year’s highs, as core business engines, especially in the subsidiaries outside Nigeria, delivered double-digit growth.
“The 2025 financial year was defined by UBA’s proactive approach to the Central Bank of Nigeria’s (CBN) new recapitalisation requirements. The Group successfully concluded a capital raising programme, which was oversubscribed, reflecting strong investor confidence in UBA’s long-term growth strategy. A total of ₦395 billion additional capital was raised, enhancing our capacity to support our footprints, and expanding lending to key sectors.”
Continuing, the GMD said, “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.”
In his forecast for the 2026 financial year, Alawuba stated, “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 ₦1 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.”
On his part, UBA’s Executive Director, Finance & Risk Management, Ugo Nwaghodoh, said the 2025 financial year marked a deliberate strengthening of the balance sheet and a shift toward more sustainable, higher-quality earnings in a normalising macroeconomic environment.
“We believe that proactively recognising 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 ₦282.5 billion drove a decline in non-interest income; these will not recur in this magnitude and should result in future earnings upside”, he explained.
According to him, despite the impact of these changes on profitability, the bank’s core business fundamentals as well as its capital and liquidity positions remain strong, with shareholders’ funds now at ₦4.25 trillion and a capital adequacy ratio of 23.2 percent, having exited the CBN forbearance regime in 2025.
“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”, Nwaghodoh explained.
United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group-wide and serving over 45 million customers globally. Operating in twenty African countries, the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
