From Dec 2022 (₦8.5) to Apr 2026 (₦48.75) · 117,647 shares
Past performance does not guarantee future returns.
Key milestones
1949
British and French Bank Limited founded
1961
Listed on Nigerian Stock Exchange
1991
Renamed United Bank for Africa
2005
Merger with Standard Trust Bank
2010
Tony Elumelu became chairman
2015
Pan-African expansion completed across 20 countries
2025
PAT reached ₦750 billion (26% ROE)
2026
10% dividend yield — highest among Nigerian banks
Dividend History
Year
Interim
Final
Total /share
Yield
2025
₦1
₦4
₦5
16.9%
2024
₦1
₦3
₦4
17.9%
2023
₦1
₦2
₦2
11.6%
2022
₦0
₦1
₦1
14.1%
2021
₦0
₦1
₦1
12.5%
Financial Highlights (₦ Billions)
Metric
2023
2024
2025
Revenue
₦1,075B
₦1,650B
₦2,200B
Net profit
₦313B
₦550B
₦750B
Profit margin
29.1%
33.3%
34.1%
EPS
₦9.15
₦16.08
₦21.93
Total assets
₦14,200B
₦18,000B
₦21,000B
ROE
16.0%
22.0%
26.0%
Why Lagosians care about UBA
UBA — United Bank for Africa — is the most pan-African of all Nigerian banks. With operations in 20 African countries, UBA serves Lagosians who send money to family in Ghana, Cameroon, Kenya, or Senegal. The red UBA app supports cross-border transfers that other Nigerian banks struggle to match.
For Lagos investors, UBA's 0.9x P/E ratio means the stock trades below book value — historically rare for any major bank. Tony Elumelu, UBA's chairman, is one of Lagos's most influential business figures, and his Tony Elumelu Foundation has become a flagship Pan-African initiative for entrepreneurship.
The 10% dividend yield (highest among Nigerian banks) makes UBA a top income stock. For Lagosians wanting African exposure beyond Nigeria, UBA is the most direct play.
About the company
United Bank for Africa Plc (UBA) is one of Nigeria's oldest banks, originally established in 1949 as the British and French Bank Limited. The bank merged with Standard Trust Bank in 2005, creating modern UBA. Tony Elumelu has served as chairman since 2010, driving the bank's aggressive Pan-African expansion strategy.
UBA operates in 20 African countries (Nigeria, Ghana, Senegal, Cameroon, Côte d'Ivoire, Burkina Faso, Mali, Mozambique, Kenya, Tanzania, Zambia, Uganda, Liberia, Sierra Leone, Republic of Congo, DRC, Chad, Gabon, Benin Republic, and Guinea), plus the United Kingdom, France, the UAE, and the United States. This footprint is the largest of any African bank — broader than Standard Bank, Ecobank, or Access.
Financial performance has been strong. Revenue grew from ₦1.075 trillion (2023) to ₦2.2 trillion (2025), while PAT expanded from ₦313 billion to ₦750 billion. ROE of 26% is among the highest globally for banks of UBA's size. The 10% dividend yield makes UBA the top income payer in Nigerian banking.
Strategic focus areas include retail banking expansion (UBA Connect mobile app), trade finance for Pan-African commerce, and the UBA Foundation's Africa-wide entrepreneurship programs (TEEP — Tony Elumelu Entrepreneurship Programme has supported 18,000+ African entrepreneurs).
Business segments
1.Banking — Nigeria + 19 African countries
2.International — UK, France, UAE, US
3.Retail & Digital (UBA Connect mobile)
4.Trade Finance & Pan-African commerce
📈 Bull case
Largest Pan-African banking footprint (20 countries). Trading below book value at 0.9x PE. 10% dividend yield. 26% ROE among the highest globally. Tony Elumelu's leadership and connections.
📉 Bear case
Pan-African subsidiary FX volatility. Regulatory risk across 20 jurisdictions. Lower scale than GTCO or Zenith in core Nigeria market. Recent leadership transitions.
Key risks
⚠African subsidiary FX risk (20 currencies)
⚠Regulatory complexity
⚠NPL concerns in Nigerian core
⚠CBN recapitalization mandate
⚠Cross-border banking compliance costs
Trading activity — past 3 months
UBA is consistently among the top 5 most-traded stocks. UBA traded 745 million shares in 168,000 deals worth ₦42 billion over the past three months. Volume spikes around dividend qualifying dates.
UBA (United Bank for Africa Plc) na trading at ₦48.75. Down 4.21% today, +65% YTD.
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Past performance is not indicative of future results. Stock prices can go down as well as up, and you may lose some or all of your investment. Always consult a licensed stockbroker or financial advisor before making investment decisions.
Data sourced from the Nigerian Exchange (NGX) and public corporate disclosures.