UBA, Zenith Bank Releases Financial Results for H1, 2025
- Nigerian banks, UBA Plc and Zenith Bank, have released their financial results for the first six months of 2025
- Both banks reported growth in profit after tax and before tax along with strong performances across key metrics
- Insights into how they achieved these results, as well as their outlook for the future, have also been provided
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
United Bank for Africa (UBA) Plc and Zenith Bank have released its financial results for the half year ended June 30, 2025, and has revealed a strong growth across its business segments.
The audited financials, filed with the Nigerian Exchange Limited (NGX) showed growth in gross earnings and profit after tax.
Source: UGC
UBA releases impressive half-year results
- Gross earnings rose 17.3% year-on-year to N1.608 trillion in June 2025, compared to N1.371 trillion in June 2024.
- Interest income increased by 32.9% to N1.334 trillion from N1.003 trillion.
- Total assets grew 9.7% to N33.3 trillion from N30.3 trillion in December 2024.
- Customer deposits rose 11.9% to N27.6 trillion from N24.6 trillion.
- Profit after tax advanced 6.1% to N335.5 billion from N316.4 billion in June 2024.
- Profit before tax moderated slightly to N388 billion from N401 billion.
- Shareholders’ funds expanded 23% to N4.22 trillion from N3.41 trillion.
CEO Speaks on Performance
Commenting on the results, Oliver Alawuba, Group Managing Director/Chief Executive Officer, said:
“UBA’s first-half results reflect the strength of our business and the continued confidence of our customers.
"Profit After Tax grew year-on-year to N335 billion, demonstrating both the resilience of our operations and the effectiveness of our strategy.
"We successfully completed Phase I of our Rights Issue, raising N234.3 billion in capital, and with Phase II in progress, we are well-positioned to meet the new capital requirements by year-end.”
Executive Director of Finance & Risk Management, Ugo Nwaghodoh, added:
“Deposits expanded by 11.9% to N27.5 trillion, supporting balance sheet growth to N33.3 trillion, while shareholders’ funds rose 23.3% to N4.22 trillion.
"Capital adequacy and liquidity ratios remain well above regulatory thresholds, providing buffers for continued growth.”
Source: Getty Images
Zenith Bank also reports strong half-year results
Zenith Bank Plc also posted a profit before tax of N625.6 billion in H1 2025.
The Board also approved an interim dividend of N1.25 per share, up 25% from the previous year.
- Gross earnings rose 20% year-on-year to N2.5 trillion, driven by a 60% increase in interest income to N1.8 trillion.
- Net interest income nearly doubled to N1.4 trillion, while non-interest income contributed N613 billion.
- Profit after tax stood at N532 billion, with earnings per share at N12.95.
- Total assets expanded to N31 trillion from N30 trillion in December 2024, while deposits grew 7% to N23 trillion.
- The non-performing loan ratio improved to 3.1% from 4.7%, with capital adequacy at 26% and liquidity ratio at 69%.
Group CEO Adaora Umeoji said the results reaffirm the bank’s resilience and innovative capacity, noting that Zenith remains well-positioned to deliver strong shareholder value and sustain growth through 2025.
CBN gives new order to banks on leadership changes
Earlier, Legit.ng reported that the Central Bank of Nigeria (CBN) has directed Domestic Systemically Important Banks (DSIBs) to secure approval for successor Managing Directors/CEOs at least six months before the incumbent leaves office.
It added that the banks must make the appointments public at least three months before the outgoing MD/CEOs officially leave office.
Source: Legit.ng
