United Bank for Africa (UBA) Plc has announced robust financial results for the first quarter (Q1) ended March 31, 2025, maintaining the momentum recorded in 2024 with double-digit growth across all key performance indicators.

According to its unaudited results released on the Nigerian Exchange Limited (NGX), the bank reported a Profit Before Tax (PBT) of N204.26 billion, representing a 30.65% increase from N156.34 billion in Q1 2024. Profit After Tax (PAT) rose by 33.15% to N189.84 billion, up from N142.58 billion recorded in the same period last year.

Gross earnings climbed to N764.31 billion—an increase of 34.05% from N570.2 billion in Q1 2024. Interest income also surged by 36.09%, rising from N440.76 billion to N599.83 billion.

The Group’s total assets stood at N31.71 trillion as of March 2025, up by 4.58% from N30.23 trillion in December 2024. Shareholders’ funds also grew to N3.7 trillion, compared to N3.4 trillion at the end of 2024.

Group Managing Director Oliver Alawuba described the performance as evidence of disciplined execution and a resilient business model.

“Our Q1 results reflect strong earnings growth, continued asset quality, and expanded market share, despite global macroeconomic headwinds,” he said.

He noted that total deposits rose by 8% from N24.65 trillion in December 2024 to N26.64 trillion in Q1 2025, and reiterated UBA’s commitment to investing in technology, innovation, and talent to improve customer experience and create long-term value for stakeholders.

UBA’s Executive Director for Finance and Risk Management, Ugo Nwaghodoh, added that the bank maintained cost discipline, ensuring operating income growth outpaced expenses. He said this resulted in positive operating leverage and strong profitability.

“The double-digit growth in our core earnings demonstrates the sustainability of UBA’s business model, supported by diversified income from lending, transaction banking, and fee-based services,” he said.

Looking ahead, he affirmed the bank’s readiness to navigate market volatility through conservative risk management and strategic investment in digital infrastructure.