WorldStage– United Capital Plc, a leading Pan-African financial and investment services group, has released its unaudited financial statements for the period ended September 30, 2026, showcasing stellar top and bottom-line growth. Driven by robust performances across its core business segments, the company recorded an exceptional surge in profitability, reinforcing its strong positioning in the capital market.
According to the financial disclosures, Gross Earnings climbed by 50% year-on-year (YoY) to N62.47 billion, up from N41.54 billion reported in the corresponding period of 2025. This stellar revenue expansion filtered strongly into the bottom line, with Profit Before Tax (PBT) advancing by 66% YoY to close at N41.58 billion (compared to N25.01 billion in 9M 2025). Similarly, Profit After Tax (PAT) grew by 65% YoY to N34.83 billion from N21.17 billion.
Key Financial Highlights (9M 2026 vs. 9M 2025)
| Financial Metric | September 2026 | September 2025 | YoY Change (%) |
| Gross Earnings (N’bn) | 62.47 | 41.54 | +50% |
| Net Operating Income (N’bn) | 55.58 | 37.60 | +48% |
| Profit Before Tax – PBT (N’bn) | 41.58 | 25.01 | +66% |
| Profit After Tax – PAT (N’bn) | 34.83 | 21.17 | +65% |
| Earnings Per Share – EPS (Kobo) | 258 kobo | 157 kobo | +65% |
Balance Sheet Resilience & Shareholder Value
United Capital’s financial position remains exceptionally sound, highlighted by a massive expansion in shareholders’ funds and strong asset retention:
Shareholders’ Funds: Surged by 58% year-to-date (YTD) to N237.08 billion (compared to N149.99 billion as of December 31, 2025), largely propelled by a 76% increase in fair value reserves and a 38% rise in retained earnings.
Total Assets: Stood robustly at N1.81 trillion, supported by a 115% YTD increase in cash and cash equivalents, which hit N618.08 billion.
Managed Funds: Expanded by 4% YTD to reach N1.04 trillion, reflecting continued client trust in the group’s asset management and wealth creation capabilities.
Earnings Per Share (EPS): Doubled down on robust shareholder value delivery, rising significantly to 258 kobo for the period under review, up from 157 kobo in 9M 2025.
Growth Drivers and Management Commentary
Commenting on the group’s performance, Group Chief Executive Officer Mr. Peter Ashade attributed the remarkable third-quarter outcome to disciplined execution, buoyant market activities, and strategic value creation.
“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,” Ashade stated. “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.”
The stellar 50% jump in gross earnings was majorly catalyzed by:
Net Investment Income: Rose to N22.03 billion (up 95% YoY).
Fee and Commission Income: Grew to N20.95 billion (up 27% YoY).
Net Trading Income: Advanced to N12.60 billion (up 29% YoY).
Net Gain on Financial Assets (FVTPL): Recorded at N6.62 billion (up 22% YoY).
With a PBT margin of 66.57% and expanding capital buffers, United Capital Plc continues to set the benchmark for innovation, advisory, and investment banking excellence across the African financial landscape.
