United Bank for Africa reported full-year 2024 gross earnings of NGN 3.19 trillion, a 53.6% increase on the prior year, and profit after tax of NGN 767 billion, up 26.1% year-on-year, according to results published on 24 March 2025. The pan-African lender operates in 20 African countries as well as in international financial centres.
Total deposits reached NGN 24.65 trillion, a 42% increase on the previous year. The loan book grew 35% to NGN 7.51 trillion, and total assets stood at NGN 30.32 trillion at the year end.
CAPITAL RAISING AND SHAREHOLDER RETURNS
In late 2024, UBA launched a rights issue to raise NGN 239.4 billion. UBA reported a capital adequacy ratio of 31% at the end of 2024.
Alongside the rights issue, the board proposed a final dividend of NGN 3.00 per share, bringing the total dividend for 2024 to NGN 5.00 per share.
CUSTOMER BASE AND FOOTPRINT
UBA served 45 million customers globally at the end of 2024. Its international operations span francophone West Africa, East Africa and Central Africa, alongside offices in London, New York and Paris.