United Bank for Africa (UBA) released its half year 2025 financial results, showing a 6.1% year-over-year growth in profit after tax to N335.53 billion, compared to N316.36 billion in 2024.
This growth is attributed to the bank’s sustained core performance, which offset the lower non-core income recorded during the period.
UBA’s interest income grew 32.9% year-over-year to N1.33 trillion, driven by elevated yields and expansion in earning assets.
Net interest income expanded 14.6% year-over-year to N773.03 billion, supported by a 46.9% decline in credit impairment charges.
Non-interest income contracted sharply by 37.0% year-over-year to N162.34 billion, due to normalized foreign exchange revaluation gains.
Operating expenses rose 9.5% year-over-year to N514.99 billion, reflecting higher personnel costs, AMCON levy, and depreciation.
Earnings Per Share (EPS) marginally declined to N8.86 in half year 2025 from N8.90 in 2024, due to the dilutive impact of new share issuances.
The Board proposed an interim dividend of N0.25 per share. Market watchers believed that the bank’s earnings momentum is expected to remain strong, driven by sustained interest income growth and disciplined funding cost management. However, non-interest income is expected to normalize further.