United Bank for Africa Plc (UBA) has released its unaudited financial results for the first quarter ended March 31, 2025, reporting pre-tax profit of N204.266 billion.
The amount representing a 30.65 per cent year-on-year growth from N156.344 billion reported the same period in 2024.
Net profit also saw a strong performance, with profit after tax rising by N47.26 billion or 33.15 per cent to N189.844 billion, compared to N142.584 billion recorded in the same period last year.
The report highlights that interest income remained a significant driver of growth, hitting N599.83 billion, a 36.09% increase YoY from N440.764 billion reported in the preceding period of 2024.
An analysis of the group result showed that interest expenses went down from N140.088 billion in preceding year to N247.957 billion, bringing net interest income to N351.877 billion against N300.676 billion reported a year ago.
Fees and Commission income up from N113.653 billion recorded in 2024 to N124.074 billion at the end of March 2025, Fees and Commission expenses stood at N52.119 billion from N51.481 billion in March 2024, as net fees and Commission went to N71.955 billion within the period under review from N62.172 billion recorded in the first quarter of 2024.