Pan-African investment bank, United Capital Plc, has reported an 80 per cent year-on-year growth in its profit before tax to N24.78bn for the half-year ended 30 June 2026, compared to N13.79bn recorded in the corresponding period of 2025.
According to its unaudited financial statements filed with the Nigerian Exchange Limited on Monday, the firm’s gross earnings expanded 58 per cent year-on-year to N37.49bn from N23.76bn in H1 2025.
Profit after tax surged 77 per cent to N21.10bn from N11.89bn recorded in the prior-year period, while annualised earnings per share rose 77 per cent to 234 kobo.
Following the half-year performance, the board of directors approved an interim dividend of 30 kobo per share, amounting to a total payout of N5.4bn to shareholders
Commenting on the financial results, the Group Chief Executive Officer, United Capital Plc, Peter Ashade, said the performance reflected operational resilience and disciplined execution.
“This impressive performance is a result of the disciplined execution of our strategic priorities, resilience of our robust and diversified business model, prudent risk management, and our unwavering commitment to consistently create sustainable value despite the dynamic operating environment,” Ashade stated.
He added, “Shareholders’ funds also increased by 25 per cent year-to-date to N187.09bn, underscoring the strength of our balance sheet and our ability to consistently deliver superior returns. As we prepare for the second half of the year, we remain focused on sustaining this momentum by solidifying our market leadership position, strengthening our retail play, expanding our presence across Africa, and delivering superior long-term value.”
A breakdown of top-line revenue growth showed significant expansion across primary business lines. Net trading income posted the largest jump, soaring 1,083 per cent to N4.96bn from H1 2025 levels.
Fee and commission income grew 26 per cent to N14.28bn, net investment income climbed 45 per cent to N13.81bn, and net gains on financial assets at fair value through profit or loss rose 132 per cent to N4.67bn.
Total operating expenses for the six months stood at N14.53bn, representing a 37 per cent increase from N10.61bn reported in the corresponding period of the previous year.
On the balance sheet position, total assets stood at N1.64tn as of 30 June 2026, down seven per cent year-to-date from N1.76tn recorded in December 2025. The company noted that the dip was driven by a 20 per cent drop in investment securities, despite a 40 per cent surge in cash and cash equivalents.
Total managed funds under the group expanded four per cent year-to-date to reach N1.04tn.
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