United Bank for Africa Aims to Sustain Stronger Regional Growth

Kayode Tokede examines how regional operations across Africa influenced the overall growth of United Bank for Africa Plc in the 2025 financial year.

Operating in 20 African countries, UBA Plc reported revenue that varied by region in the 2025 financial year. West African countries led with strong growth, East and Southern Africa showed steady progress, and Central Africa remained stable.

In addition to its African presence, the group operates in the United States, United Kingdom, France, and United Arab Emirates. These pan‑African operations continue to be a major growth driver, accounting for more than 50 % of total assets, revenue, and profit.

During the 2025 fiscal year, West African countries generated N1.01 trillion in operating revenue, an increase of about 19 % over N852 billion in the 2024 fiscal year. East and Southern African countries closed 2025 with operating revenue of approximately N178 billion, up 5 % from N169 billion reported in 2024. Central Africa’s operating revenue was N488 billion in 2025, compared with N487 billion in 2024. The momentum seen in 2025 indicated opportunities for expansion and deeper market penetration across all regions.

Overall performance showed strong upward momentum in 2025, with most segments delivering solid year‑on‑year growth. While performance varied slightly across segments, the general trend remained positive and growth‑oriented.

UBA’s West African countries produced N457 billion in profit after tax in 2025, a significant 53 % increase from N298 billion in 2024.

Aside from Nigeria, the audited 2025 results showed that Côte d’Ivoire, Ghana, Guinea, and others reported impressive growth in profit before tax and profit after tax.

For example, UBA Côte d’Ivoire declared N126.58 billion in profit before tax in 2025, an increase of 121.2 % over N57.24 billion in 2024. Profit after tax stood at N125.01 billion in 2025, a growth of 124.2 % compared with N55.76 billion in 2024.

UBA Ghana posted N78.17 billion in profit before tax, a 252 % increase over N22.2 billion in 2024, while profit after tax closed 2025 at N50.5 billion, an increase of 282.15 % over N13.2 billion in 2024.

UBA Ghana Managing Director Bernard Appiah Gyebi disclosed that the subsidiary will pursue a targeted local expansion strategy for the 2026 financial year to increase its branch network across the country.

He said the expansion would include new branches in the Eastern, Bono East, and Central regions as part of efforts to reinforce the bank’s position as the preferred bank in Ghana.

East and Southern Africa generated N53 billion in profit after tax in 2025, a 61 % increase from N33 billion in 2024. Central Africa moved from N206 billion in 2024 to N167 billion in 2025.

Expansion across African markets in 2025

In the year under review, the group’s total assets rose 9.4 % to N33.2 trillion from N30.32 trillion in 2024, supported by expansion across African markets. Nigeria, followed by Cameroon, Côte d’Ivoire, and Ghana, contributed a significant share of the total assets in 2025.

Extracts from the 2025 fiscal year show the Nigerian subsidiary contributed about N16.41 trillion of the total N33.2 trillion in 2025, down from N17.29 trillion in 2024. This was followed by UBA Côte d’Ivoire with about N2.37 trillion in total assets in 2025, up nearly 5 % from N2.26 trillion in 2024.

UBA Cameroon reported N2.05 trillion in total assets in 2025, an 11 % increase from N1.86 trillion in 2024. UBA Ghana closed 2025 with N1.59 trillion in total assets, a 52 % increase over N1.04 trillion in 2024.

The group declared that customer deposits grew 11.8 % to N27.2 trillion in 2025 from N24.3 trillion in 2024, reflecting stronger regional customer activity.

The double‑digit growth in customer deposits was underpinned by savings deposits up 18 % year‑on‑year and term deposits increasing by 30 %, supported by a 5 % growth in current deposits. This reflected extensive product offerings, a preferred banking partner, and service efficiency.

The 27 % compound annual growth rate in customer deposits signifies customer confidence and underscores the bank’s competitive strength and market share expansion across geographies.

From the balance sheet, the group posted loans and advances to customers of N7.02 trillion in 2025, an increase of 1 % from N6.96 trillion in 2024.

Strengthening pan‑African diversification

Group Managing Director Oliver Alawuba stated that the group continued to demonstrate the true strength of its pan‑African diversified model.

He noted that this was despite a moderation in bottom‑line performance compared to the prior year’s highs, as core business engines, especially in subsidiaries outside Nigeria, delivered double‑digit growth.

The management said that diversification across African countries helped cushion pressure from Nigeria’s economic and currency volatility.

Connectivity across banking regions

The group’s strategic investments in digital infrastructure continued to deliver returns, with efficient digital channels performing well in 2025. This growth was fueled by key initiatives, including PAPSS on Leo: As the first African chatbot to launch cross‑border payments via PAPSS in Nigeria, UBA Leo is revolutionising intra‑African trade and remittances.

Alawuba said, “For us, this is what UBA is all about – connectivity and easing transactions. With PAPSS now fully integrated on our LEO platform, we are not just simplifying payments – we are breaking down the barriers to economic collaboration across African markets and allowing Africans to transact using their own local currencies.”

He added, “This is aligned with our vision of being at the heart of Africa’s economic transformation, and so, I say, Now, Africa trade begins!”

He emphasised that the future of Africa lies with the youth, and UBA continues to seek ways to support the youth in growing the economy, adding that the integration of PAPSS on the LEO platform is one such way.

Chief Executive Officer of PAPSS, Mark Ogbalu III, commended UBA for being an excellent partner with Afrexim Bank and PAPSS on their pan‑African journey towards enabling trade on the continent. He explained that UBA was one of the first financial institutions to enter into PAPSS.

Ogbalu said, “Indeed, PAPSS has had an excellent run with UBA, which has now extended from carrying out these transactions from their branches to digital platforms and channels such as LEO. By this, customers can send and receive their monies within seconds. This of course has an accelerated impact on trade as there is now an interplay between convenience and seamless transacting.”

He added, “The group has also advanced Top‑Up on USSD: Our ‘Buy Now, Pay Later’ airtime service is enhancing customer convenience and loyalty.”

In addition, he introduced innovation in POS business (RED PAY): Merchants now enjoy instant settlements, a dashboard for effective access to services, significantly increasing adoption and transaction volumes.”