United Capital Plc has delivered a robust performance for the year ended 31 December 2025, reporting a pre-tax profit of N41.18 billion, according to its audited financial statements filed with the Nigerian Exchange Limited. The result marks a 36.81% increase from N30.10 billion recorded in 2024, underscoring steady growth across the company’s key business lines.
Total revenue for the year rose to N58.5 billion, up 34.81% from N43.43 billion in the prior year. The growth was largely driven by fee and commission income, which surged to N23.25 billion from N14.58 billion, reflecting heightened activity in the company’s core business segments. Management fees contributed N10.7 billion, financial advisory and brokerage fees added N4.9 billion and N4.8 billion respectively, while trustee fees accounted for N1.4 billion.
Investment-related income also supported the company’s performance, with net investment income reaching N12.6 billion and net trading income climbing to N17.6 billion. These gains lifted net operating income to N53.5 billion, representing a 46.44% year-on-year increase. Despite reporting other losses of N11.42 billion, the company offset this with net gains of N16.4 billion, driving total revenue to the N58.5 billion mark.
On the expense side, operating costs rose to N20.37 billion from N10.83 billion, while personnel expenses grew slightly to N5.6 billion from N5.34 billion. Nevertheless, revenue growth outpaced the increase in expenses, resulting in a 43.08% surge in operating profit to N39.31 billion. Profit after tax increased by 16.78% to N28.14 billion, with earnings per share rising to N1.56 from N1.34.
The company’s balance sheet reflected solid growth, with total assets rising to N1.76 trillion from N1.70 trillion a year earlier. Investment securities accounted for the bulk of the asset expansion, reaching N1.34 trillion. Borrowed funds declined to N372.3 billion, while managed funds increased to N993.64 billion from N846.60 billion, contributing to total liabilities of N1.6 trillion. Shareholders’ funds also strengthened, ending the year at N149.9 billion, up from N133.5 billion in 2024.
In line with its performance, the board of United Capital Plc has proposed a final dividend of N0.70 per share, amounting to N12.6 billion, payable to shareholders on the register as at 3 April 2026, subject to tax and approval at the annual general meeting.
Market response has been cautious. As of mid-trading on 2 April 2026, shares of United Capital were priced at N18.95, down 1.8% on the day. Year-to-date, the stock has gained 1.3%, with investors expected to track subsequent sessions closely for any reaction to the company’s full-year results.
The strong 2025 performance highlights United Capital’s ability to balance revenue growth, investment gains, and cost management, positioning the company for continued expansion and shareholder value creation in the coming year.