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 recorded in 2024, as the bank undertook strategic steps to strengthen its balance sheet and position for long-term growth.
According to its audited financial results released on the Nigerian Exchange Limited, customer deposits also rose by 11.8 per cent to N27.2 trillion from N24.3 trillion in the previous year.
The Group posted gross earnings of N3.09 trillion, slightly below the N3.19 trillion recorded in 2024. Despite the marginal decline, the bank said its performance was underpinned by resilient core operations and its diversified presence across Africa and key international markets.
UBA noted that its 2025 results were impacted by prudent risk management measures, including loan loss provisions of N331 billion and fair value losses on derivatives amounting to N278 billion.
The bank described these as largely non-recurring items that weighed on profitability but are unlikely to persist at similar levels.
Notwithstanding these pressures, operating profit exceeded N1 trillion before the exceptional items, reflecting the strength of its underlying business.
The bank’s capital position remained solid, with shareholders’ funds rising to N4.25 trillion from N3.42 trillion in 2024. Share capital and premium increased to N505 billion following a successful rights issue, while its capital adequacy ratio stood at 23.2 per cent.
UBA also intensified its loan recovery efforts, with a strengthened recovery team targeting delinquent exposures, a move expected to positively impact earnings from the 2026 financial year.
The Group’s Pan-African operations continued to drive growth, contributing over 50 per cent of total assets, revenue and profit.
West Africa operations recorded a 53 per cent growth in profit, while East and Southern Africa grew by 61 per cent, underscoring the scalability of its diversified business model.
Commenting on the results, Group Managing Director/Chief Executive Officer, Oliver Alawuba, said the bank’s performance highlights the strength of its Pan-African strategy despite a moderation in bottom-line performance.
He noted that the 2025 financial year was shaped by the bank’s proactive response to recapitalisation requirements by the Central Bank of Nigeria, with UBA successfully raising N395 billion in additional capital through an oversubscribed offering.
Alawuba added that the bank has increased investments in technology and digital platforms to scale its payments business and drive new income streams across its markets.
Looking ahead, he expressed optimism about improved macroeconomic conditions, stating that UBA plans to expand its risk asset base and target over N1 trillion in additional growth, while deepening financial inclusion and enhancing shareholder value.
Also speaking, Executive Director, Finance & Risk Management, Ugo Nwaghodoh, said the bank deliberately strengthened its balance sheet in 2025 to prioritise sustainable and higher-quality earnings.
He explained that the recognition of potential credit losses and the reversal of prior-year derivative gains and foreign exchange-related income impacted non-interest income but would create upside potential in future earnings.
Nwaghodoh added that the bank exited the Central Bank’s forbearance regime in 2025 and remains well positioned to cautiously grow its loan book in line with improving economic conditions.
UBA operates in 20 African countries as well as the United Kingdom, United States, France and the United Arab Emirates. The bank employs over 25,000 people and serves more than 45 million customers globally, providing retail, commercial and institutional banking services.
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