UBA Reports 5% Growth in Q1 2026 Earnings

United Bank for Africa (UBA) Plc released its unaudited financial results for the first quarter ending March 31, 2026, showcasing resilient operational performance and a strong balance sheet despite a moderate profit environment. Gross earnings increased by 5% to ₦801.5 billion, driven by growth across key revenue lines, with interest income rising by 6.9% to ₦641.1 billion and non-interest income increasing by 17.3% to ₦137.1 billion.

This reflects the group's expanded and diversified revenue base. Net interest income advanced by 10.5% to ₦383.7 billion, supporting a 12.2% rise in operating income to ₦520.8 billion.

UBA's Group Managing Director/CEO, Oliv Alawuba, highlighted the strength of the diversified pan-African model and the resilience of the core banking franchise. The bank's profit before tax was ₦160.7 billion, a decline of 21.4% year-on-year.

UBA maintains a strong balance sheet with total assets of ₦33.1 trillion and customer deposits of ₦26.2 trillion, emphasizing its commitment to financial inclusion and intra-African trade.