A combined photo of Mr. Tony Elumelu and UBA headquarters
By Victory Oghene
United Bank for Africa posted a group profit after tax of N404.7 billion ($259 million) for the year ended December 31, 2025, a 47% decline from the N766.6 billion it earned in 2024, as the foreign exchange trading gains that sharply inflated its prior-year earnings failed to repeat and impairment charges on loans climbed steeply.
The results, filed with the Nigerian Exchange in April 2026 and audited by Ernst and Young, show a bank that grew its balance sheet and deposit base in 2025 while absorbing a painful reversal in trading income and a significantly higher credit loss bill than the year before.
Net interest income, the bank’s core lending revenue, rose 4% to N1.618 trillion from N1.552 trillion in 2024, and total assets expanded 9.4% to N33.173 trillion. Customer deposits climbed 11% to N23.949 trillion. None of that growth was enough to offset 2 specific line items that together erased roughly N440 billion from the bottom line relative to 2024.
Strong gross earnings of N3 trillion, and business fundamentals.
The bank’s business result for FY2025 have been impacted by material Loan loss Provisions of N331bn and fair value changes on derivatives of N227bn. These are non-recurrent at least not at that magnitude and is not expected to diminish the earnings for future periods
The Recovery team has been fortified and 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 N504bn resulting from Rights Issues. Shareholders’ funds at N4.25trillion. With strong capital adequacy of 23.2%. This positions us for significant growth.
The Bank continues to grow strategically. Deposit growth of 11.8% to N27.2trillion and total asset growth of 9.4% to N33.2trillion.
UBA is poised to strategically grow its Risk Asset base is choice sectors, and the macroeconomic fundamentals strengthen. This should enhance earnings and profit in FY2026 and beyond. The bank could see over N1trillion in growth this year.
The bank’s franchise in Africa is witnessing significant growth stories and contribute materially to the Group. Contributes over 50% of Group Assets, Revenue and Profit. West Africa – 53% profit growth in 2025, East and Central Africa – 61% profit growth in 2025
