United Capital Plc, a leading investment banking and financial services group in Nigeria, has reported a significant increase in its profit before tax for the nine months ended September 30, 2026. The company's profit before tax rose by 66% to N41.58bn, compared with N25.01bn recorded in the corresponding period of 2025. This impressive performance was attributed to growth in investment income, trading activities, and fees.
The company's gross earnings also recorded a substantial increase, rising by 50% to N62.47bn from N41.54bn in the previous year. Similarly, profit after tax increased by 65% to N34.83bn, against N21.17bn recorded in the corresponding period of 2025. Earnings per share also improved to 258 kobo from 157 kobo, reflecting stronger returns to shareholders.
A breakdown of the results showed that net investment income recorded one of the strongest improvements, climbing by 95% to N22.03bn from N11.32bn a year earlier. Fee and commission income also increased by 27% to N20.95bn, compared with N16.54bn in the corresponding period of the previous year. Net trading income grew by 29% to N12.60bn from N9.74bn.
The growth in revenue was accompanied by an increase in operating costs, which rose to N23.51bn from N18.40bn. Nevertheless, the company's profit before tax margin improved to 66.57% from 60.22%, indicating improved profitability despite the higher operating expenses.
Commenting on the performance, Peter Ashade, Group Chief Executive Officer of United Capital, said the company recorded strong growth across its major financial indicators during the nine-month period. He noted that the expansion in earnings and shareholders' funds had enhanced the group's capacity to sustain its growth trajectory and deliver long-term value to investors.
United Capital's total assets increased marginally by three percent to N1.81tn as of September 30, compared with N1.76tn at the end of December 2025. Cash and cash equivalents recorded a significant increase, rising to N618.08bn from N287.10bn, while investment securities declined to N1.07tn from N1.34tn. The group's managed funds also expanded by four percent to N1.04tn from N993.64bn.
Shareholders' funds rose substantially by 58% to N237.08bn from N150bn at the end of 2025. According to the company, the growth was largely supported by a 76% increase in fair value reserves and a 38% rise in retained earnings. United Capital remains confident of sustaining its earnings performance in the final quarter of the year, with emphasis on business execution, sustainable growth, and long-term value creation.
Key points
- United Capital Plc reports 66% increase in profit before tax to N41.58bn for nine months ended September 30, 2026.
- The company's gross earnings rose by 50% to N62.47bn from N41.54bn in the previous year.
- Shareholders' funds rose substantially by 58% to N237.08bn from N150bn at the end of 2025.
