United Bank for Africa (UBA) Plc recorded total assets of N33.2trn as of December 31, 2025, up from N30.3trn in 2024, reflecting a 9.4 per cent growth. Customer deposits rose 11.8 per cent to N27.2trn from N24.3trn in the previous year. The bank's gross earnings stood at N3.09trn, slightly down from N3.19trn in 2024. This dip was attributed to non-recurrent items, including loan loss provisions of N331bn and fair value changes on derivatives amounting to N278bn.
Despite these impacts, UBA maintained strong underlying performance, with operating profit exceeding N1trn before exceptional items. Shareholders' funds increased to N4.25trn in 2025 from N3.42trn in 2024, driven by a successful rights issue that brought in N395bn. The bank's capital adequacy ratio stood at 23.2 per cent, supporting future expansion. UBA exited the Central Bank of Nigeria's forbearance regime in 2025.
The bank operates in 20 African countries, the US, UK, France, and UAE, with Pan-African operations contributing over 50 per cent of total assets, revenue, and profit. West Africa subsidiaries posted a 53 per cent profit increase, while East and Southern Africa saw a 61 per cent rise. Group Managing Director Oliver Alawuba said the 2025 year was marked by proactive compliance with CBN's recapitalization requirements and investments in digital infrastructure. He projected over N1trn in additional growth for 2026 as macroeconomic conditions improve.
UBA highlights strong capital growth while reporting lower earnings, raising questions about the immediate return on its N395bn rights issue. The bank's reliance on non-core items to balance performance may delay tangible benefits for Nigerian depositors and borrowers. Profit growth outside Nigeria outpaces domestic results, underscoring a continental tilt in value creation. Nigerian stakeholders may see limited upside unless digital and lending expansions translate locally.
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