United Bank for Africa Plc (UBA) has reported a profit after tax of N335.53 billion for the half-year ended 30 June 2025, up from N316.36 billion in the same period of 2024, according to its financial statement.
The bank posted a profit before tax of N388.41 billion, Income tax expense declined by 38 percent to N52.88 billion, helping lift profit after tax despite a slight dip in pre-tax earnings.
Interest income rose significantly by 33 percent to N1.33 trillion compared to N1.00 trillion the same period of last year, driven by a 34 percent increase in interest income on amortised cost and FVOCI securities, which contributed N1.29 trillion.
Interest expense, on the other hand grew by 70 percent to N560.61 billion, reflecting repricing of customer deposits and higher cost of funds. As a result, net interest income increased to N773.03 billion, compared with N674.62 billion a year earlier.
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The Group recorded an impairment charge for credit losses on loans and advances of N35.15 billion, down from N58.56 billion in H1 2024. Net impairment charges on other financial assets resulted in a write-back of N3.19 billion compared with a charge of N1.66 billion last year.
UBA earned N253.60 billion in fees and commission income from N250.62 billion in the same period a year earlier, while fees and commission expense stood at N106.56 billion. This resulted in a net fee and commission income of N147.04 billion, slightly higher than N145.10 billion in the prior period.
However, the bank reported a net trading and foreign exchange loss of N10.05 billion, compared with a gain of N98.18 billion in H1 2024, reflecting volatility in derivative and FX positions. Other operating income rose to N30.79 billion from N18.70 billion, supported by dividend and rental income.
Employee benefit expenses stood at N143.89 billion (H1 2024: N136.54 billion), while other operating expenses were N376.54 billion, from N336.07 billion).
Total operating expenses rose to N520.43 billion from N472.62 billion but remained below revenue growth, resulting in improved cost efficiency.
The bank’s total assets expanded to N33.27 trillion as at June 2025, compared to N30.24 trillion at December 2024. Customer deposits increased to N27.60 trillion, while loans and advances to customers grew to N7.74 trillion, reflecting the bank’s focus on supporting credit growth across its markets.
According the bank’s corporate disclosure, UBA said it will pay its shareholders an interim dividend of N0.25k for every ordinary share of 50 kobo each subject to applicable withholding tax, will be paid to shareholders whose names appear in the Register of Members as at the close of business on Friday October 03, 2025.