UBA reaffirms pan-African growth drive
United Bank for Africa Plc has reaffirmed its commitment towards delivering sustainable long-term value to its shareholders and stakeholders and its drive to deepen operations across the African continent.
The UBA Group Managing Director/Chief Executive Officer, Oliver Alawuba, said this on Tuesday during the 2025 Half-Year Investors’ Conference Call.
He noted that together with its diversified business model and keen ventures into key markets in Africa and beyond, investors of the bank will continue to enjoy huge financial benefits and dividends in the current financial year and beyond.
The 2025 Half-Year Investors’ Conference Call followed the release of its results for the half-year ended June 30, 2025.
Alawuba explained that its diversification model remains a key growth strategy, as seen from the huge contribution of its subsidiaries to the business in the first half.
He said, “As you may very well know, UBA is present in 20 countries in Africa, 19 outside Nigeria, and these countries are doing quite well. In a lot of those countries, we are a significant systemic bank. The contribution of our African business to our profit before tax has risen to 53 per cent, and we see this growing as we go along this year.
“A lot is coming from Africa, and indeed we are positioned to pursue value.
We see a lot of opportunities in Africa, and I believe that we are investing in those countries to pursue these opportunities, and as a proactive bank, we have tried to expand very solidly in terms of business, products, and services, and also in terms of bringing in talents that will support us in value expansion.”
Responding to an investor’s questions on dividend payment for the full year, Alawuba said, “On dividend outlook for the rest of the year: we still believe that, based on the numbers we are looking at, we will be able to pay a competitive dividend for the rest of the year.”
At the end of the first two quarters of the year, UBA’s gross earnings grew 17.28 per cent, rising from N1.37tn in June 2024 to N1.61tn in the period under review. Interest income also increased 32.89 per cent from N1.00tn in June last year to N1.33tn, while total assets went up 9.71 per cent to N33.3tn, up from N30.3tn recorded in December 2024. Total deposits also leapt 11.96 per cent in the same period to close at N27.6tn, up from N24.7tn recorded at the end of 2024.
Alawuba also pointed out the bank’s ongoing investments in technology and innovation as critical enablers for efficiency and competitiveness, adding that by leveraging digital channels and solutions, UBA aims to strengthen its income streams, enhance customer experience, and reinforce its leadership as the preferred financial partner for over 45 million customers globally.
Echoing the sentiments of the GMD, UBA’s Executive Director of Finance and Risk Management, Ugo Nwaghodoh, said the bank will continue to leverage technology and innovation to drive efficiency, expand digital income streams, and deliver superior customer experiences.
“Our diversified African and interconnected operations remain a strong buffer against local shocks, reinforcing UBA’s position as Africa’s global bank,” Nwaghodoh noted as he pointed out that the bank’s growth strategy is firmly anchored on resilience, innovation, and value creation, reinforcing its mission of empowering customers, supporting communities, and driving economic progress across Africa and beyond.
UBA is one of the largest employers in the financial sector on the African continent, with 25,000 employees group-wide and serving over 45 million customers globally.
