UBA Fortifies Balance Sheet with 9.4% Asset Growth to N33.2 Trillion Amid Strategic Recapitalization and Pan-African Expansion

UBA reports 9.4% growth in total assets and N27.2tn in deposits. CEO Oliver Alawuba confirms successful N395bn capital raise and strong Pan-African profit growth.

By: AXL Media

Published: Apr 25, 2026, 6:29 AM EDT

Source: Information for this report was sourced from Business Hallmark

Strategic Balance Sheet Expansion and Deposit Growth

United Bank for Africa (UBA) Plc has announced a significant expansion of its financial footprint, with total assets growing by 9.4% to N33.2 trillion for the fiscal year ending December 31, 2025. This upward trajectory was supported by an 11.8% increase in customer deposits, which rose to N27.2 trillion. The bank’s audited results, released to the Nigerian Exchange Limited, reflect a deliberate effort to reposition its balance sheet for sustainable long-term performance in an evolving macroeconomic landscape.

Resilience Amidst Non-Recurrent Financial Adjustments

While the Group delivered strong gross earnings of N3.09 trillion, the 2025 bottom line was influenced by prudent risk management decisions and non-recurring items. These included loan loss provisions of N331 billion and fair value changes on derivatives amounting to N278 billion. Despite these exceptional items, the bank’s core banking operations remained highly resilient, with underlying operating profit exceeding N1 trillion. Executives indicated that these specific non-interest income pressures, largely tied to the reversal of prior-year derivative gains, are not expected to recur at similar magnitudes in future periods.

Successful Recapitalization and Investor Confidence

A major highlight of the 2025 financial year was UBA’s proactive response to the Central Bank of Nigeria’s (CBN) new recapitalization requirements. The Group successfully concluded a capital-raising program that was notably oversubscribed, raising a total of N395 billion in additional capital. This successful rights issue brought the Group’s shareholders’ funds to N4.25 trillion, providing a formidable capital buffer. Group Managing Director Oliver Alawuba noted that this oversubscription reflects deep investor confidence in the bank’s Pan-African strategy and its capacity to scale digital-led income streams.