United Bank For Africa released audited financial results for the year ended 31 December 2025 on Friday, reporting total assets of N33.2 trillion, up 9.4 percent from N30.3 trillion a year earlier, and customer deposits of N27.2 trillion, an 11.8 percent rise from N24.3 trillion at the end of 2024.
The bank said gross earnings were N3.09 trillion in 2025 compared with N3.19 trillion in 2024, and that operating profit exceeded N1 trillion before exceptional items. Shareholders’ funds rose to N4.25 trillion from N3.42 trillion, while share capital and premium reached N505 billion following a rights issue. UBA said loan loss provisions of N331 billion and fair value changes on derivatives of N278 billion affected profitability in 2025, but characterised those charges as largely non‑recurrent and not expected to recur at similar magnitudes in future periods.
Oliver Alawuba framed the year as one of regulatory and balance‑sheet readjustment: "The 2025 financial year was defined by UBA’s proactive approach to the Central Bank of Nigeria’s (CBN) new recapitalization requirements." He added that "The Group successfully concluded capital raising programme, which was oversubscribed, reflecting strong investor confidence in UBA’s long-term growth strategy." The bank said a total of N395 billion in additional capital was raised, and Alawuba said, "A total of N395 billion additional capital was raised, enhancing our capacity to support our footprints, and expanding lending to key sectors."
UBA attributed the results to a strategic repositioning of its balance sheet for sustainable long‑term growth and said its Pan‑African footprint remains a major driver: Pan‑African operations contributed over 50 percent of total assets, revenue and profit. The group operates in 20 African countries and maintains businesses in the United States, the United Kingdom, France and the United Arab Emirates. Regionally, West Africa operations recorded 53 percent profit growth while East and Southern Africa operations delivered 61 percent profit growth.
The numbers contain a clear tension. Assets, deposits and shareholder capital increased materially and the bank’s capital adequacy ratio stood at 23.2 percent, signalling a stronger cushion for expansion. Yet headline profitability was held back by N331 billion of loan‑loss provisions and N278 billion of fair‑value adjustments on derivatives — large items the bank says were exceptional. Gross earnings slipped from N3.19 trillion to N3.09 trillion even as the bank reported an operating profit above N1 trillion before those charges, underscoring a gap between underlying earning power and the reported bottom line for 2025.
Alawuba also pointed to technology investment as part of the repositioning, saying in the statement: "We have also made significant investments in innovati" — a fragment the bank included as part of its commentary on strengthening payments and digital offerings. The company further reported that the oversubscribed capital‑raising programme raised N395 billion in additional capital, supporting the rise in share capital and premium to N505 billion.
With a 23.2 percent capital adequacy ratio, a bigger deposit base and newly raised equity, UBA enters 2026 with a balance sheet that management says is rebuilt for growth. The bank’s assertion that the heavy provisions and derivative swings were largely non‑recurrent, combined with the fresh capital, supports a conclusion that the 2025 distortions should not define the group’s medium‑term trajectory: the numbers point to a bank that has traded near‑term headline profit for a stronger capital and deposit foundation to support lending and expansion across its footprint.
