UBA posts N538 billion Q3 profit, lifts capital buffers

United Bank for Africa reported a third-quarter profit after tax of N537.5 billion (about $363.2 million) for the period to 30 September 2025, a result that keeps the lender in the top tier of African banks by earnings power. The audited results, released to the Nigerian Exchange on Thursday, showed consistent growth across key indicators, supported by balance sheet discipline and diversified income streams.

Gross earnings rose 3 per cent to N2.47 trillion from N2.39 trillion a year earlier, while net interest income increased 6.2 per cent to N1.17 trillion. Profit before tax came in at N578.6 billion, slightly below last year’s N603.5 billion, but post-tax profit improved 2.3 per cent from N525.3 billion.

The bank’s total assets climbed 7.2 per cent to N32.49 trillion, driven by increased investment in earning assets and solid deposit mobilisation. Customer deposits rose to N26.54 trillion, up 7.7 per cent from December 2024 levels. Shareholders’ funds expanded sharply by 25.8 per cent to N4.3 trillion, reflecting internal capital generation and the completion of the bank’s rights issue under the Central Bank of Nigeria’s recapitalisation framework.

Group Managing Director and Chief Executive, Oliver Alawuba, said the results reflect UBA’s resilience and focus on sustainable growth amid challenging macroeconomic conditions. “We delivered solid performance supported by prudent balance sheet management and a well-diversified earnings base,” he said.

Alawuba added that the recapitalisation exercise has “strengthened our capital base and will support continued, prudent expansion across our markets.”

Executive Director for Finance and Risk, Ugo Nwaghodoh, said the Group’s performance was anchored by higher interest income and deposit growth. “Total assets grew to N32.5 trillion, supported by focused deposit mobilisation, while shareholders’ funds expanded 26 per cent to N4.3 trillion, underscoring investor confidence,” he said.

UBA operates in 20 African countries as well as in the UK, US, France and the UAE, serving over 45 million customers and employing 25,000 staff globally. The third-quarter numbers suggest UBA can keep earnings steady while still returning value to investors, even as operating conditions shift.