UBA assets rise to N33.2 trillion as gross earnings edge lower
Customer deposits expanded and the capital ratio remained strong, but the 2025 accounts showed that balance-sheet growth did not produce higher gross revenue.
United Bank for Africa reported total assets of N33.17 trillion at the end of 2025, up 9.4 percent from N30.3 trillion a year earlier, while customer deposits increased 11.8 percent to N27.2 trillion.
Gross earnings were about N3.09 trillion, slightly below N3.19 trillion in 2024. Profit after tax was N423 billion, and the group reported a capital-adequacy ratio of 23.2 percent.
A year of balance-sheet repositioning
The results show why headline asset growth is not a substitute for earnings quality. Larger deposits and assets can support future lending and fee income, but their value depends on funding cost, credit performance and the return generated from each naira deployed.
UBA's network across 20 African countries and operations in major international financial centres provides diversification, while also exposing the group to multiple currencies and regulatory regimes. Investors will watch whether the expanded balance sheet restores revenue growth in 2026.
Sources
United Bank for Africa, 2025 Annual Report; Nigerian Exchange filing; TheCable, “UBA's assets grew to N33.2trn in 2025 — but gross earnings dropped marginally” (25 April 2026).
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About the author
Musa Abdullahi
Finance Correspondent
Musa Abdullahi writes for BusinessPress.
