BY NGOZI ONYEAKUSI

L-R: Dr. Gbadebo Aderenle, Managing Director, United Capital Investment Banking; Adetola Fasuyi, Managing Director, United Capital Wealth Management; Dr. Odiri Oginni, Managing Director/Chief Executive Officer, United Capital Asset Management; Peter Ashade, Group Chief Executive Officer, United Capital Plc; Esther Adeola-Balogun, Managing Director/Chief Executive Officer, UCEE Microfinance Bank; and Adekunle Olugbile, Head, United Capital Consumer Finance; at the maiden edition of the United Capital Investor Relations Roundtable held in Lagos

United Capital Plc has recorded an impressive financial performance for the first half of 2026, as its profit before tax  grew to ₦24.78 billion from ₦13.79 billion recorded in the corresponding period of 2025.

Thus showing an 80 per cent increase even as the  group’s gross earnings soared to ₦37.49bn.

Speaking during the company’s maiden edition of its Investor Relations Roundtable with the theme; “Decoding Performance: Insights into  United Capital Growth Drivers and Outlook,” Group Chief Executive Officer, Mr Peter Ashade, attributed the strong performance to the company’s operational resilience, disciplined execution and diversified business model despite the evolving macroeconomic environment

Ashade said United Capital has undergone a remarkable transformation over the past eight years, evolving from a traditional capital market operator with four business lines into a diversified financial services group with seven core businesses, two strategic associates and operations spanning 12 African countries.

He explained that the group’s operations now cover investment banking, asset management, trusteeship, securities trading, wealth management, digital banking through its microfinance bank, and consumer finance, while maintaining strategic investments in the insurance sector.

According to him, when management set a target in 2018 to grow assets under management from less than ₦100 billion to ₦1 trillion by 2027, many considered the goal overly ambitious.

“We exceeded that target five years ahead of schedule by crossing ₦1 trillion in 2022. Today, we manage over ₦2.3 trillion in assets,” Ashade said.

He attributed the achievement to disciplined execution, customer-focused innovation and a deliberate diversification of earnings, stressing that the company’s strategy is centred on developing financial solutions rather than simply launching new products.

“Our philosophy has always been to solve customers’ problems. Every investment, every expansion and every new business is carefully designed to create sustainable long-term value,” he said.

Ashade also highlighted the company’s Pan-African expansion strategy, revealing that United Capital has established operations in 12 African countries within about two years of implementing its expansion plan.

He added that the company became the first African financial services institution to secure operating licences in both Rwanda and Ethiopia, describing the achievement as a major milestone in its ambition to promote deeper integration of African financial markets.

Following the strong financial performance recorded within  the period, by the group the board approved an interim dividend of 30 kobo per share, amounting to ₦5.4 billion for shareholders, underscoring the group’s commitment to delivering sustainable value and rewarding shareholders.

The Group’s Profit After Tax (PAT) rose by 77 per cent to ₦21.10 billion, while gross earnings climbed 58 per cent to ₦37.49 billion from ₦23.76 billion recorded a year earlier. Net operating income increased by 55 per cent to ₦33.05 billion, while earnings per share improved by 75 per cent from ₦1.32 to ₦2.34. The Group also enhanced operational efficiency, with its cost-to-income ratio declining to 44 per cent from 50 per cent, while PBT margin improved to 66 per cent from 58 per cent.

Shareholders’ funds equally rose by 25 per cent year-to-date to ₦187.09 billion from ₦149.99 billion at the end of 2025, underscoring the company’s stronger capital position. Total assets stood at ₦1.64 trillion as of June 2026, while managed funds increased to over ₦1.03 trillion.