United Bank for Africa (UBA) Plc has reported a profit after tax of ₦537.5 billion for the first nine months of 2025, representing a 2.3% year-on-year increase from ₦525 billion in the same period of 2024. The growth came despite declining non-interest income, supported by strong interest earnings and improved credit quality.
According to the lender’s unaudited financial statements, gross earnings rose 2.9% to ₦2.47 trillion from ₦2.398 trillion in 2024, driven primarily by a robust increase in interest income. UBA’s interest income grew 10.1% to ₦1.98 trillion, buoyed by higher loan volumes and gains from investment securities.
The bank’s loans and advances to customers rose 3.5% to ₦7.20 trillion, reflecting sustained growth across both corporate and retail segments. Investment securities also expanded 8.5% to ₦13.59 trillion, further boosting earnings.
However, higher funding costs pushed interest expenses up 16.3% to ₦808.7 billion, though the Group still maintained a strong net interest income of ₦1.17 trillion, up 6.2% year-on-year. After accounting for lower loan impairment charges, net interest income stood at ₦1.11 trillion, representing a 2.7% improvement.
The decline in impairment losses — down 54% to ₦56.9 billion from ₦123.5 billion last year — significantly improved credit quality and profitability.
Non-interest income remained a weak spot, sliding 28.8% to ₦310.1 billion, largely due to a sharp 77.3% drop in trading and FX income to ₦41.4 billion. Nonetheless, fee and commission income rose 4.3%, supported by expanding digital banking operations, trade finance, and increased transaction volumes.
UBA’s total assets grew 8% to ₦32.49 trillion, reflecting balance sheet expansion across cash reserves, loans, and investment securities. Customer deposits climbed 8.7% to ₦23.80 trillion, underscoring investor confidence, while shareholders’ funds rose from ₦3.42 trillion in December 2024 to ₦4.30 trillion.
On the market front, investor sentiment remained positive. Following the result announcement, UBA’s share price rose 1.9% to ₦39.75, extending its year-to-date gain to nearly 17%.
With a stronger balance sheet, lower loan losses, and steady core earnings growth, UBA appears well-positioned to sustain profitability through the remainder of 2025, despite headwinds in non-interest revenue and tighter funding conditions.