United Capital Pre-tax Profit Soars 66% To N41.58bn In Q3

United Capital Plc has posted profit before tax (PBT) growth of 66 percent year-on-year to N41.58 billion for the nine months ended September 30, 2026.

The Company unaudited financial results filed with the Nigerian Exchange Limited showed that pre-tax profit rose from N25.01 billion recorded in the corresponding period of 2025.

Profit after tax also grew by 65 percent to N34.83 billion in nine months 2026, compared to N21.17 billion in nine months 2025. Gross Earnings rose by 50 percent year-on-year to N62.47 billion from N41.54 billion in the prior year.

The Group said the robust earnings growth was driven by significant growth across key income lines: fee and commission income which rose by 27 percent year-on-year, net investment income which grew by 95 percent, net trading income up by 29 percent, and net gain on financial assets at fair value through profit or loss (FVTPL) which increased by 22 percent.

Net operating income increased by 48 percent to N55.58 billion from N37.60 billion, while total revenue stood at N62.47 billion.

Total expenses rose by 28 percent to N23.51 billion from N18.39 billion, with other operating expenses at N15.68 billion and personnel expenses at N6.42 billion. Impairment charge for credit losses declined sharply to N366.9 million from N940.6 million.

Operating profit before income tax stood at N38.95 billion, while share of profit from associates contributed N2.62 billion.

On the balance sheet, total assets grew by three per cent year-to-date to N1.81 trillion as at September 2026, from N1.76 trillion as at December 2025, driven primarily by a 115 per cent growth in cash and cash equivalents to N618.08 billion.

Managed Funds increased by four per cent to N1.04 trillion from N993.64 billion, while shareholders’ funds jumped by 58 per cent to N237.08 billion from N149.99 billion. The growth in shareholders’ funds was driven by a 76 per cent increase in fair value reserve to N153.54 billion and a 38 per cent rise in retained earnings to N73.62 billion.

Profitability ratios improved significantly. PBT Margin rose to 66.57 per cent from 60.22 per cent, while annualized earnings per share (EPS) increased by 65 percent to 258 kobo from 157 kobo.

Speaking on the Group’s performance, the Group chief executive officer, Mr. Peter Ashade, said the results demonstrate strong execution and resilience.

“I am pleased to inform all stakeholders that United Capital Plc ended the third quarter of the year on a remarkable note as demonstrated by the company’s strong earnings growth and impressive performance across key financial metrics.”

“During the period under review, gross earnings rose by 50 percent year-on-year, profit before tax grew by 66 percent, profit after tax increased by 65 percent while Shareholders’ Funds rose by 58 percent year-to-date, reflecting the company’s solid financial strength and enhanced capacity to drive sustainable growth,” Ashade said.

He added that “looking ahead to the final quarter of the year, we are well-positioned to build on our momentum, driven by a continued focus on strong execution, sustainable growth, and long-term value creation for our shareholders.”