UBA’s Q1 results exceed expectations; details revealed

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United Bank for Africa Plc (UBA) has announced significant growth in its profit for the first quarter of 2025, recording a profit after tax of N189.8bn. This represents a 33% rise from the ₦142.6bn reported in the same period last year.

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The bank’s Condensed Consolidated Statements of Comprehensive Income for the three months ended March 31, 2025, revealed a 36% increase in interest income, which climbed to N599.8bn from N440.8bn in the first quarter of 2024. The bank’s net interest income also rose to ₦351.9bn, up from ₦300.7bn in Q1 2024.

Fees and commission income saw a notable increase, with UBA reporting N124.1bn in Q1 2025, compared to N113.7bn in Q1 2024. The bank’s non-interest income also recorded an impressive 44% rise, driven by strong growth in net trading and foreign exchange income.

The bank’s operating income rose to N464.2bn, a 22.7% increase from N378.6bn in the same period last year. UBA’s total assets increased to N31.7 tn in March 2025, compared to N30.3 tn as of December 2024, with key contributors including growth in investment securities.

The bank’s earnings per share improved to N5.35, up from N3.96 in Q1 2024, reflecting the strong growth in profit. The total comprehensive income for the period was N256.5bn.

These impressive financial results demonstrate UBA’s resilience and growth trajectory, solidifying its position as a leading player in the Nigerian banking industry.

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