United Bank for Africa (UBA) Plc has released its financial results for the half-year ending June 30, showing growth across its major business segments.

The audited financials released to the Nigerian Exchange Limited (NGX) yesterday showed that the bank recorded significant growth in its gross earnings and profit after tax (PAT), signalling a robust balance sheet expansion.

Despite the tough global macroeconomic climate, UBA’s gross earnings grew by 17.28 per cent, rising from N1.37 trillion in the comparative period of 2024 to N1.61 trillion.

Interest income also increased by 32.89 per cent from N1 trillion in June last year to N1.33 trillion, while total assets went up by 9.71 per cent to N33.3 trillion, up from N30.3 trillion recorded in December 2024.

Total customer deposits also leapt by 11.9 per cent in the same period to close at N27.6 trillion, up from N24.6 trillion recorded at the end of 2024.

The results also showed that PAT, which stood at N316.36 billion in June 2024, rose by 6.06 per cent to close the half-year at N335.53 billion, just as profit before tax (PBT) dropped slightly from N401 billion to N388 billion in the period under consideration.

The banks’ shareholders’ funds remained strong as it increased by 23 per cent, from N3.41 trillion in
December to N4.22 trillion in June 2025.

UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, while commenting on the results, underscored the bank’s commitment to consistently delivering long-term value to its shareholders.

He said: “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, from N316 billion, underscoring the resilience of our business and the success of our strategy.”

Giving an update on the bank’s ongoing rights issuance programme, the GMD assured shareholders and investors that UBA remained on track with its financial goals and projections for 2025.

have made significant progress on our capital raising programme. Phase I of our rights issue was completed, enhancing our capital by N234.3 billion and providing a stronger buffer for growth and expansion across our markets. With phase II currently underway, we remain firmly on track to meet the new capital requirements by the end of the year,” Alawuba stated.