United Capital's nine-month pre-tax profit rises 66% as investment income strengthens

United Capital reported pre-tax profit of N41.58 billion for the nine months ended 30 September 2026, up 66.2% from N25.01 billion in the corresponding 2025 period. The Nigerian financial services group's unaudited earnings release, filed on the Nigerian Exchange on 26 October, also showed profit after tax rising 64.5% to N34.83 billion.

Gross earnings increased 50.4% to N62.47 billion from N41.54 billion. Net investment income was a major contributor, climbing to N22.03 billion from N11.32 billion. Fee and commission income rose to N20.95 billion from N16.54 billion, while net trading income increased to N12.60 billion from N9.74 billion.

Costs also increased: total expenses reached N23.51 billion, compared with N18.40 billion a year earlier. Nevertheless, the reported pre-tax profit margin improved to 66.57% from 60.22%, as earnings growth outpaced the increase in expenses.

Reading the results

These are cumulative nine-month figures, not profit for the third quarter alone or a full-year result. The filing labels the accounts unaudited, so readers should distinguish them from subsequently audited annual statements.

FXRates context: the release offers a company-level view of investment income, fees and trading activity in Nigeria's financial services industry. It does not measure earnings across the banking sector or establish how the naira will move. Higher reported profit also does not, by itself, imply a future dividend or a change in the company's share price.