MON JULY 27 2026-theGBJournal| United Capital Plc reported a sharp rise in first-half earnings, underpinned by robust growth in investment income, trading gains and fee-based businesses, as the Nigerian financial services group continued to benefit from buoyant capital market activity despite a volatile operating environment.
The investment banking and asset management group on Monday posted a 77 per cent year-on-year increase in profit after tax to ₦21.10 billion for the six months ended June 30, 2026, while profit before tax climbed 80 per cent to ₦24.78 billion, prompting the board to declare an interim dividend of 30 kobo per share.
The strong earnings performance came as gross earnings rose 58 per cent to ₦37.49 billion, from ₦23.76 billion in the corresponding period of 2025.
The growth was supported by higher fee and commission income, stronger investment returns and a significant increase in trading income, highlighting the benefits of the group’s diversified business model amid favourable conditions in Nigeria’s capital markets.
Net trading income recorded the strongest growth, jumping more than eleven-fold from a year earlier, while net gains on financial assets measured at fair value through profit or loss more than doubled.
Fee and commission income rose 26 per cent, reflecting sustained activity across the group’s investment banking, trusteeship and wealth management businesses, while net investment income increased 45 per cent.
Although total assets declined 7 per cent from year-end 2025 to ₦1.64 trillion, the reduction primarily reflected a 20 per cent fall in investment securities as the company rebalanced its portfolio.
Cash and cash equivalents increased 40 per cent over the period, strengthening liquidity.
United Capital also expanded its assets under management, with managed funds rising 4 per cent to ₦1.04 trillion, crossing the trillion-naira mark as investors continued to channel funds into professionally managed investment products.
The group’s capital position strengthened further, with shareholders’ funds increasing 25 per cent year-to-date to ₦187.09 billion, supported by growth in fair value reserves and retained earnings, providing additional capacity to pursue expansion opportunities and support future business growth.
Chief Executive Officer Peter Ashade attributed the performance to disciplined execution and the resilience of the group’s diversified business model.
“I am delighted to announce that United Capital Group has once again delivered an exceptional financial performance in the first half of 2026.
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 said.
Looking ahead, he said the company would focus on sustaining growth by strengthening its retail business, expanding its African footprint and enhancing customer offerings.
“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, enhancing our customer value propositions, and delivering superior long-term value to our stakeholders.”
The interim dividend signals management’s confidence in the sustainability of earnings and continues United Capital’s track record of rewarding shareholders while investing in regional expansion and growing its wealth and asset management franchise.
The results also reinforce the broader trend of strong profitability across Nigeria’s financial services sector, as investment firms capitalise on elevated market activity and rising investor participation.
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