United Bank for Africa Plc (UBA) has sustained profit growth in the first half of 2025, overcoming surging interest expenses to close the period with improved earnings and a larger payout to shareholders.
For the six months ending June 30, the pan-African lender reported profit after tax of ₦335.53 billion (US$222.1 million), representing a 6% rise from ₦316.36 billion (US$208.8 million) recorded in the same period last year. Profit before tax came in at ₦388.41 billion (US$250.5 million).
UBA’s topline remained robust, with gross earnings hitting ₦1.608 trillion (US$926.5 million), supported by a surge in interest income to ₦1.334 trillion (US$768.2 million) compared to ₦1.004 trillion (US$578.6 million) in H1 2024. Net interest income climbed to ₦773.03 billion (US$445.4 million), despite higher funding costs that pressured margins.
The bank’s balance sheet also expanded significantly:
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Customer loans reached ₦7.212 trillion (US$4.15 billion)
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Deposits advanced to ₦24.188 trillion (US$13.96 billion)
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Total assets rose to ₦33.269 trillion (US$19.16 billion)
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Shareholders’ equity grew to ₦4.216 trillion (US$2.43 billion)
UBA’s board approved an interim dividend of ₦0.25 per share. With his 6.72 billion shares, Chairman Tony Elumelu is set to earn roughly ₦1.68 billion (US$1.11 million) from the payout.
Although pre-tax profits came in below some analysts’ expectations, a reduced tax liability helped the group maintain positive bottom-line growth.
