UBA’s Q1-25 Earnings Soar 35% As Interest Income Drives Growth

United Bank for Africa Plc (UBA) has released its Q1-25 interim financial results, showcasing a strong 35.1% year-over-year growth in earnings per share (EPS) to NGN5.35.

This impressive growth is driven by significant increases in both core and non-core income lines.

UBA’s interest income rose by 36.1% to NGN599.83 billion, supported by elevated yields and a 3.1% increase in earning assets to NGN26.26 trillion. The bank’s net interest income grew by 17.0% to NGN351.88 billion, while non-interest income advanced by 44.2% to NGN112.36 billion.

Despite a 12.3% increase in operating expenses, UBA’s cost-to-income ratio improved to 54.6%. Profit before tax grew by 30.7% to NGN204.27 billion, and profit after tax expanded by 33.1% to NGN189.84 billion.

Key Highlights:

– Earnings per share: NGN5.35 (up 35.1% y/y)
– Interest income: NGN599.83 billion (up 36.1% y/y)
– Net interest income: NGN351.88 billion (up 17.0% y/y)
– Profit after tax: NGN189.84 billion (up 33.1% y/y)

UBA’s strong performance is driven by its ability to leverage the high-yield environment and grow interest income, while digital adoption supports non-core income growth. The bank’s robust financials position it for continued success in the banking sector.