United Bank for Africa has posted N189.8 billion profit for the first quarter of 2025, as profit surged by 33.1% compared to N142.6 billion in the same period in 2024.
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.
