United Bank for Africa (UBA) Plc has released its financial results for the first quarter ended March 31, 2025, showing double-digit growth across all its major income lines.
 
The group’s result which was released to the Nigerian Exchange Limited (NGX) on Wednesday, showed that gross earnings rose significantly by 34.05 per cent from N570.2 billion in March 2024 to N764.31 billion in the year under review, while interest income, which stood at N440.76 billion a year ago, grew by 36.09 per cent to N599.83 billion in Q1 2025. 
  
The results further revealed that Operating Income rose by 22.6 per cent to close the first quarter at N464.23 billion, up from N378.59 billion recorded in Q1 2024. 
 
 On the back of its recently released 2024 full year financials, UBA again saw its Profit Before Tax (PBT) rising impressively by 30.65 per cent from N156,34 billion in Q1 2024, to N204.26 billion, while profit after tax (PAT) jumped from N142.58 billion last year, to N189.84 billion, representing an remarkable increase by 33.15 per cent.

The bank’s total assets continued on its upward trend as it increased by 4.58 per cent from N30.23 trillion in December 2024 to N31.71 trillion in March 2025, while shareholders’ funds also rose to N3.7 trillion, up from N3.4 trillion recorded in December 2024. 
  
Commenting on the results, UBA’s Group Managing Director, Oliver Alawuba, said the bank is on a solid start for the 2025 financial year which, according to him, reflects its disciplined execution of its strategy and the sustained momentum of the business model of driving strong earnings growth, maintaining robust asset quality, and expanding market share. 
  
He said: “Our results this quarter underscore the effectiveness of our focus on core banking operations, prudent risk management, and ongoing investments in customer-centric innovation.” 
  
“The Group recorded a profit before tax of N204.2 billion, with total deposits up 8%, from N24.65 trillion at FY 2024 to N26.64 trillion. Total assets rose five per cent to N31.7 trillion, compared to N30.3 trillion at year-end, driven by balanced growth across all our business segments. These strong results were achieved in the face of persistent macroeconomic headwinds, geopolitical risks and global trade uncertainties,” he added. 
  
Also speaking on the performance, UBA’s Executive Director, Finance and Risk Management, Ugo Nwaghodoh, explained that the Q1 2025 results reflect the resilience of the bank’s diversified business model as well as the disciplined execution of its strategy.