Disclosed in the group’s unaudited financial statement filed with the Nigerian Exchange Group, the profit before tax rose by 30.7% year-on-year to N204.3 billion from N156.3 billion the previous year.

The growth was driven largely by an increase in the bank’s interest-earning assets, with net interest income climbing 17% to N351.9 billion.

The report also revealed a rise in income generated from fees and commissions—covering account maintenance, transaction charges, and other services—which increased to N71.96 billion from N62.17 billion year-on-year. Non-interest income also posted significant growth, jumping 44% year-on-year to N112.36 billion in Q1 2025.

In addition, the earnings per share grew to N5.35 from N3.96 in the same period in 2024.

Assets and liabilities also recorded moderate improvement as the group’s total assets surged to N31.7 trillion from  N30.3 trillion, while total liabilities grew to N28 trillion from N26.9 trillion in December 2024. Retained earnings also increased from N1.4 trillion to N1.6 trillion within the first three months of 2025.

UBA disclosed the profit in the group’s 2024 financial statement, which revealed commendable improvements across key performance indicators:

• Revenue surged by 53.5% to N3.1 trillion from N2.07 trillion in 2023.
• Earnings per share increased to N21.73, compared to N17.49 in 2023.
• Profit before tax grew by 6.1% to N803.7 billion, from N757.6 billion.
• Total assets expanded by 46.6%, reaching N30.3 trillion, up from N20.6 trillion the previous year.
• Total liabilities rose by 44.5% to N26.9 trillion, compared to N18.6 trillion in 2023.
• Net operating income increased by 8.4%, hitting N1.2 trillion from N1.1 trillion in 2023.
• Retained earnings grew by 54.9% to N1.4 trillion, from N919.8 billion.

UBA’s strong financial standing is also seen in its deposit portfolio, with loans and advances to customers totaling N7.5 trillion, while customer deposits surged by 42% to N24.6 billion.

The bank declared a final dividend of N3.00 per ordinary share of 50 kobo, subject to applicable withholding tax.

This follows the N2.00 interim dividend paid in October 2024, bringing the total dividend payout for the year to N5.00 per share.