United Bank for Africa (UBA) Plc has posted a profit after tax (PAT) of N335.53 billion for the half-year ended 30 June 2025, reflecting a 6.06 per cent increase from the N316.36 billion recorded in the corresponding period of 2024.

The pan-African lender’s audited financial results, released to the Nigerian Exchange Limited (NGX) on Thursday, showed robust performance across key financial indicators despite a challenging global macroeconomic environment.

UBA’s gross earnings rose by 17.28 per cent to N1.608 trillion in June 2025, up from N1.371 trillion in the same period last year. Interest income jumped 32.89 per cent to N1.334 trillion, compared with N1.003 trillion in June 2024.

The bank’s balance sheet also expanded strongly, with total assets increasing by 9.71 per cent to N33.3 trillion from N30.3 trillion in December 2024. Customer deposits climbed 11.9 per cent to N27.6 trillion, against N24.6 trillion at the end of last year. Shareholders’ funds grew by 23 per cent, rising from N3.41 trillion in December 2024 to N4.22 trillion as of June 2025.

However, profit before tax (PBT) slipped slightly to N388 billion from N401 billion in June 2024.

Commenting on the results, UBA’s Group Managing Director/Chief Executive Officer, Mr Oliver Alawuba, said the performance highlights the strength of the bank’s business model and the trust reposed in it by customers.

“UBA’s first-half results highlight the strength of our business and the trust our customers continue to place in us. We delivered strong double-digit earnings growth across our markets, with Profit After Tax rising year-on-year to N335 billion, underscoring the resilience of our business and the success of our strategy,” he stated.

Alawuba further disclosed progress on the bank’s ongoing capital raising programme, noting that Phase I of the Rights Issue had successfully raised N234.3 billion, enhancing capital buffers to support future expansion. Phase II of the programme, he added, is underway and on course to meet regulatory capital requirements by year-end.

UBA’s Executive Director, Finance & Risk Management, Mr Ugo Nwaghodoh, said the strong results were anchored on broad-based revenue growth.

“Gross earnings grew to N1.61 trillion, supported by a 32.9 per cent increase in interest income and a 14.6 per cent rise in net interest income. Deposits expanded by 11.9 per cent to over N27.5 trillion, while shareholders’ funds rose 23.3 per cent to N4.22 trillion. Our capital adequacy and liquidity ratios remain well above regulatory thresholds, providing a solid foundation for continued growth,” he explained.

Looking ahead, Nwaghodoh said the bank will focus on expanding market share, scaling digital income streams, improving efficiency, and maintaining disciplined risk management.

UBA, Africa’s Global Bank, serves more than 45 million customers across 1,000 business offices and customer touchpoints in 20 African countries. The bank also operates in key global financial centres, including New York, London, Paris, and Dubai.

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