Monday, November 3, 2025
25.6 C
Lagos

Business

NIPR Institutes Annual PRICE Awards, Fixes 7th Dec for Ceremony

The Nigerian Institute of Public Relations (NIPR) has once...

LASAA Staff Faces Sanctions for Policy Breach after Viral Allegation, Cleared of Fraud

The Lagos State Signage and Advertisement Agency (LASAA) has...

Stanbic IBTC, Zenith, Axa Mansard, Leadway, MTN, GLO Lead Q3 2025 Brand Report

As Nigeria’s media environment continues to evolve, brand sentiment has emerged...

LASAA Hosts Legislators, Vows Commitment to Visual Order, Safety

L-R: The Chairman, Committee on Information, Security and Strategy,...

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

Nigeria’s foremost advertising leader and Chairman of Troyka Holdings,...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

NGX Group Chair, Umaru Kwairanga, Draws Roadmap for Leadership in Nigeria

   Being the remarks by Alhaji (Dr.) Umaru Kwairanga, Group...

NGX Group Fuels Women’s Investment Drive, Engages 9,000 at FinTribe Finance Fair 2025

Nigerian Exchange Group (NGX Group), through its regulatory subsidiary,...

Equity Trading on Nigerian Exchange Surges 115% as Reforms Draw Foreign, Domestic Investors

Transactions by domestic and foreign investors on Nigerian Exchange...

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

The Director General of the Securities and Exchange Commission...

Insurance

2025 Almond Insurance Industry Awards Holds Friday, Nov 7 in Lagos

All is now set for the 2025 Almond Insurance...

NCRIB to Partner State Govts to Drive Insurance Penetration in Nigeria

L-R: Mr. Tope Adaramola, Executive Secretary; Mrs. Ekeoma Ezeibe,...

Stanbic IBTC Insurance Unveils Manifold Endowment Plan to Stakeholders at Media Engagement

L-R: Akinjide Orimolade, Chief Executive, Stanbic IBTC Insurance; Wole...

Lasaco Assurance Reports N13.19bn Claims Payment, 25% Revenue Growth in 2024

L-R: Deputy Managing Director, Corporate Service, Lasaco Assurance Plc,...

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

L:R- Funmi Olotu, National Coordinator, National Social Safety-Nets Coordinating...

Business

NIPR Institutes Annual PRICE Awards, Fixes 7th Dec for Ceremony

The Nigerian Institute of Public Relations (NIPR) has once...

LASAA Staff Faces Sanctions for Policy Breach after Viral Allegation, Cleared of Fraud

The Lagos State Signage and Advertisement Agency (LASAA) has...

Stanbic IBTC, Zenith, Axa Mansard, Leadway, MTN, GLO Lead Q3 2025 Brand Report

As Nigeria’s media environment continues to evolve, brand sentiment has emerged...

LASAA Hosts Legislators, Vows Commitment to Visual Order, Safety

L-R: The Chairman, Committee on Information, Security and Strategy,...

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

Nigeria’s foremost advertising leader and Chairman of Troyka Holdings,...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

NGX Group Chair, Umaru Kwairanga, Draws Roadmap for Leadership in Nigeria

   Being the remarks by Alhaji (Dr.) Umaru Kwairanga, Group...

NGX Group Fuels Women’s Investment Drive, Engages 9,000 at FinTribe Finance Fair 2025

Nigerian Exchange Group (NGX Group), through its regulatory subsidiary,...

Equity Trading on Nigerian Exchange Surges 115% as Reforms Draw Foreign, Domestic Investors

Transactions by domestic and foreign investors on Nigerian Exchange...

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

The Director General of the Securities and Exchange Commission...

Insurance

2025 Almond Insurance Industry Awards Holds Friday, Nov 7 in Lagos

All is now set for the 2025 Almond Insurance...

NCRIB to Partner State Govts to Drive Insurance Penetration in Nigeria

L-R: Mr. Tope Adaramola, Executive Secretary; Mrs. Ekeoma Ezeibe,...

Stanbic IBTC Insurance Unveils Manifold Endowment Plan to Stakeholders at Media Engagement

L-R: Akinjide Orimolade, Chief Executive, Stanbic IBTC Insurance; Wole...

Lasaco Assurance Reports N13.19bn Claims Payment, 25% Revenue Growth in 2024

L-R: Deputy Managing Director, Corporate Service, Lasaco Assurance Plc,...

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

L:R- Funmi Olotu, National Coordinator, National Social Safety-Nets Coordinating...

UBA Delivers N538bn PAT, Robust Balance Sheet in Q3 2025

Following its recently released half-year financials, Africa’s Global Bank – United Bank for Africa (UBA) Plc, has announced its audited results for the third quarter ended September 30, 2025, where it recorded strong and impressive growth across all its key indicators.

As in the first two quarters of the current fiscal year, the bank’s gross earnings grew by 3.0 per cent to N2.469 trillion up from N2.398 trillion recorded in September last year, while its net Interest income which stood at N1.103 trillion at the end of the third quarter in 2024, rose by 6.2 per cent to N1.172 trillion in the period under consideration.

The bank’s financial report filed with the Nigerian Exchange Limited on Thursday also indicated a slight drop by 4.1 per cent in Profit before Tax (PBT) to N578.59 billion compared to N603.48 recorded at the end of the third quarter of 2024, while profit after tax rose by 2.3 per cent from N525.31 billion recorded a year earlier to N537.53 billion at the end of September 2025.

As in the preceding two quarters this year, UBA continues to maintain a very strong balance sheet, with Total Assets rising to N32.492 trillion, representing a 7.2 per cent increase over the N30.323 trillion recorded at the end of December 2024, just as total deposits rose by 7.7 per cent from N24.651 trillion at the end of last year to N26.54 trillion in September 2025.

UBA shareholders’ funds remained very strong at N4.301 trillion rising by 25.8 per cent from N3.418 trillion recorded in December 2024 again reflecting a strong capacity for internal capital generation and growth.

Commenting on the result, UBA’s Group Managing Director/CEO, Mr. Oliver Alawuba, said the bank continues to demonstrate the strength, resilience, and diversification of its business in a dynamic operating environment.

“We delivered solid performance supported by prudent balance sheet management, innovation, and a well-diversified earnings base across all our markets,” he stated.

According to him, with profit After tax rising to N538 billion, from N525 billion, the bank continues to reflect consistent earnings momentum and its commitment to sustainable growth, with strength in Nigeria, African network and global presence amidst persistent macroeconomic headwinds.

Updating shareholders and investors on its recent recapitalisation efforts, the GMD said, “I am pleased to report that we have made significant progress on our capital raising, as part of the mandated industry wide recapitalization exercise with the successful completion of the final phase II of the Rights Issue. This has strengthened our capital base and will support the continued, prudent expansion of our operations across our markets.”

Alawuba emphasised UBA’s unwavering focus on disciplined execution and strategic growth, ensuring the delivery of sustainable returns and long-term value to all shareholders.

UBA’s Executive Director, Finance & Risk, Ugo Nwaghodoh, who also spoke on the result, pointed out that the Group delivered steady growth in earnings, with gross earnings rising to N2.47 trillion, driven by a 10.1% increase in interest income and a 6.2% uplift in net interest income.

He noted that total assets grew by 7% to N32.5 trillion, supported by focused deposit mobilisation and increased investment in earning assets.

“Shareholders’ funds expanded by 26% to N4.3 trillion, underscoring the continued confidence of investors in the Group’s strategy, while capital adequacy and liquidity ratios remain well above regulatory thresholds and provide significant buffers to support continued growth,” he explained.

Speaking on the bank’s efforts to consolidate its performance for the rest of the 2025 financial year and beyond, Nwaghodoh said, “We remain focused on sustaining profitability, expanding our digital income streams, and delivering long-term value to our shareholders.”

About UBA

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group-wide and serving over 45 million customers globally.

Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.

 

Hot this week

2025 Almond Insurance Industry Awards Holds Friday, Nov 7 in Lagos

All is now set for the 2025 Almond Insurance...

Stanbic IBTC Bank Nigeria PMI: Output Growth Hits 6-Month High in October

October data pointed to improved growth momentum in the...

Emirates Rolls out 700 Exclusive Winter Deals with My Emirates Pass

Emirates Airlines has announced exclusive winter offers with My...

Sterling HoldCo Builds on Upward Earnings Trajectory with 127% Profit Growth

Sterling Financial Holdings Company Plc has announced its unaudited...

Topics

Africa Offshore Oil Development Attracts U.S. Grant

The United States and Nigeria are teaming up to...

Beyond the Change Chorus: Is Nigeria Open for Business Again?

Against the intense apprehension by local and international observers, Nigeria's 2015 Presidential Elections turned out peaceful and successful following the incumbent's concession of defeat prior to the final announcement by the electoral umpire - INEC. The election, which was keenly contested by All Progressives Congress (APC) - General Muhammadu Buhari (GMB) and Peoples Democratic Party (PDP) - Goodluck Ebele Jonathan (GEJ) saw the emergence of GMB as the President-elect of Nigeria. GMB satisfied the constitutional requirement of polling the majority votes of 15.4 million (vs. GEJ's 12.9 million total votes) while also winning at least 25.0% of the votes cast in 28 states (vs. GEJ's 27 states). In the past weeks, there have been two contending words -- Change vs. Transformation. With the former now triumphing over the latter, the Nigerian economy and financial market demand more..."Beyond the change chorus".

Mutual Benefits Assurance: 2O Years of Creating Value!

Mutual Benefits Assurance Plc is 2O! At the 2Oth Anniversary...

Ecobank, AU MSME Academy for Africa Berths in Nigeria

Spearheaded under the AUDA-NEPAD “100,000 MSMEs by 2021” (100K MSMEs)...

NNPC, JV Partners, NDDC Commission N24.5bn Ogbia-Nembe Road

L-R: Deputy Governor of Bayelsa State, Sen. Lawrence Ewhrudjakpo;...

AMCON: Abba Kyari Was a Courageous, Patriotic Nigerian

  The Managing Director/Chief Executive Officer, Asset Management Corporation of...

Finance Min, Wale Edun, to Keynote FiBOP Annual Confab Oct 18

The Honourable Minister of Finance and Coordinating Minister of...

THE WINNERS of 2024 ALMOND INSURANCE INDUSTRY AWARDS

GENERAL INSURANCE COMPANY OF THE YEAR Leadway Assurance Company Limited LIFE...
Exit mobile version