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UBA 2025 Vision: Harnessing Innovation, Digitalization, and Sustainability for Long-Term Growth
By Ruth Inofomoh — March 28, 2025
Africa’s Global Bank, United Bank for Africa (UBA) Plc, has unveiled its strategic roadmap for the 2025 financial year, emphasizing innovation, digital transformation, financial strength, and global expansion.
Following the release of its 2024 full-year financial performance to stakeholders on Tuesday, the bank outlined plans to accelerate growth through strategic investments in technology, enhanced risk management frameworks, and capital efficiency.
UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, addressed global investors during the Full-Year 2024 Investors Conference Call at the UBA Head Office on Thursday. He highlighted that the bank’s performance reflected broad-based growth across core business areas, surpassing previous records and reinforcing its position as a leading global financial institution.
At the end of the 2024 financial year, UBA delivered an exceptional performance, with profit after tax rising by 26.14% to N766.6 billion, up from N607.7 billion in 2023.
Gross earnings also saw a significant increase, climbing from N2.07 trillion in 2023 to N3.187 trillion in 2024, representing a 53% growth. Despite a challenging global economic environment, UBA recorded a profit before tax of N803.72 billion—marking a 6% increase from the N757.68 billion reported in 2023.
As a result, UBA Group Shareholders’ Funds grew from N2.03 trillion in December 2023 to N3.419 trillion by the end of 2024—an impressive 68.39% increase.
To reward shareholders, the bank proposed a final dividend of N3.00 per ordinary share of 50 kobo for the financial year ending December 31, 2024.
Strengthening Innovation and Growth
Alawuba assured investors that UBA is committed to exceeding its growth projections through investments in technology, risk management frameworks, and capital efficiency.
“We will continue to push the frontiers of innovation and technology adoption to build sustainable value for shareholders. Our dedicated workforce will remain committed to delivering high-impact, customer-centric products,” he stated.
He added that UBA will sustain its strong momentum by implementing best-in-class risk management strategies to navigate emerging market uncertainties while ensuring financial stability, regulatory compliance, and long-term sustainability.
The bank’s performance underscores its ability to generate sustainable revenue growth through core operations, including loan book expansion, deposit mobilization, and transaction banking.
Global Expansion Plans
UBA is finalizing its planned expansions into France and Saudi Arabia. Alawuba revealed that the bank’s operations outside Nigeria (Rest of Africa & International) have grown significantly over the past five years, now contributing 51.7% of the Group’s revenue—up from 31% in 2019.
“This diversification will continue to deliver long-term shareholder value as we explore strategic markets aligned with our vision,” he said.
UBA’s Executive Director of Finance & Risk Management, Ugo Nwaghodoh, highlighted that the bank achieved triple-digit growth in net interest income, improving its net interest margin from 6.83% in 2023 to 9.14% in 2024. Additionally, the bank recorded a strong 91.66% growth in fee and commission income.
He assured investors that UBA’s management remains focused on responsible growth, delivering customer-centric value propositions, and ensuring full compliance with regulatory requirements across all jurisdictions.
United Bank for Africa is one of Africa’s largest financial sector employers, with 25,000 employees worldwide. It serves over 45 million customers across 20 African countries, as well as in the United Kingdom, the United States, France, and the United Arab Emirates. The bank provides retail, commercial, and institutional banking services, driving financial inclusion while leveraging cutting-edge technology.
