United Capital Plc recorded a 66.24% building up in pre-tax benefit to N41.58 billion for the 9 months ended September 2026, in comparison with N25.01 billion within the corresponding length of 2025, pushed in large part by way of a surge in funding source of revenue.
That is in step with the corporate’s unaudited consolidated monetary statements filed with the Nigerian Alternate (NGX) on Monday, October 26, 2026, which confirmed gross income expanding by way of 50.37% to N62.47 billion from N41.54 billion.
Benefit after tax rose by way of 64.51% to N34.83 billion from N21.17 billion, whilst income consistent with percentage larger to 258 kobo from 157 kobo.
Funding Source of revenue surges 94.65%:
Internet funding source of revenue emerged as United Capital’s biggest income contributor all the way through the nine-month length, expanding by way of 94.65% to N22.03 billion from N11.32 billion.
The rise driven funding source of revenue above charge and fee source of revenue, whilst internet working source of revenue rose by way of 47.82% to N55.58 billion from N37.60 billion.
- Rate and fee source of revenue larger by way of 26.63% to N20.95 billion from N16.54 billion, whilst internet buying and selling source of revenue rose by way of 29.40% to N12.60 billion from N9.74 billion.
- Running bills larger by way of 27.80% to N23.51 billion from N18.40 billion, final under the expansion recorded in internet working source of revenue.
- Impairment fees declined by way of roughly 61% to N366.97 million from N940.65 million, with all fees categorised as Degree 1 and no Degree 2 or Degree 3 impairment fees.
- Running benefit sooner than tax rose by way of 68.31% to N38.96 billion, whilst the N2.63 billion percentage of make the most of buddies contributed to the N41.58 billion pre-tax benefit.
The corporate’s estimated source of revenue tax fee stood at N6.75 billion, representing an efficient tax price of roughly 16%, whilst general complete source of revenue declined by way of 8.54% to N101.34 billion because of decrease fair-value positive factors on fairness investments.
Q3 Pre-Tax Benefit hits N16.80 billion:
United Capital maintained its income momentum within the 0.33 quarter of 2026, with pre-tax benefit attaining roughly N16.80 billion.
The determine was once derived by way of subtracting the corporate’s first-half effects from its nine-month efficiency, because the monetary statements didn’t supply a standalone third-quarter source of revenue remark.
- Nairametrics prior to now reported that United Capital recorded N24.78 billion in pre-tax benefit all the way through the primary 1/2 of 2026, an identical to a median of roughly N12.4 billion consistent with quarter.
- 3rd-quarter benefit after tax stood at roughly N13.73 billion, representing an building up of about 48% from N9.28 billion within the corresponding length of 2025.
- Gross income for the quarter reached roughly N24.98 billion, up more or less 40% from N17.78 billion a yr previous.
- The third-quarter pre-tax benefit exceeded the common quarterly efficiency recorded all the way through the primary 1/2, reflecting persisted income expansion all the way through the length.
The advance additionally got here as United Capital maintained expansion throughout funding source of revenue, charges and buying and selling actions, supported by way of decrease impairment fees.
Money Holdings greater than double:
United Capital’s steadiness sheet confirmed a vital development in liquidity, with money and money equivalents expanding by way of 115.28% to N618.08 billion as of September 30, 2026.
- General property rose modestly by way of 2.96% to N1.81 trillion from N1.76 trillion on the finish of December 2025, whilst funding securities declined by way of 20.66% to N1.07 trillion.
- General liabilities declined by way of 2.16% to N1.58 trillion from N1.61 trillion, whilst controlled budget larger by way of 4.45% to N1.04 trillion.
- Shareholders’ budget larger by way of 58.06% to N237.08 billion from N150 billion, supported by way of retained income of N73.62 billion and fair-value reserves of N153.55 billion.
- Regulatory capital rose to N556.76 billion from N522.01 billion, reflecting an development within the corporate’s capital place.
- Borrowed budget declined by way of 14.03% to N320.08 billion, comprising N281.79 billion in financial institution and fiscal establishment loans, a N26.61 billion overdraft and N11.67 billion in bonds.
The corporate reported no exceptional business paper and no default on most important or passion bills.
The motion from funding securities into money signifies a extra liquid asset combine, with the 66% expansion in pre-tax benefit considerably exceeding the modest building up in general property.
United Capital stocks decline 11.5%:
Regardless of the development in income, United Capital’s percentage worth declined by way of roughly 2.1% to N16.55 on Monday, October 26, 2026, from N16.90 on the earlier buying and selling consultation.
The decline represented a lack of 35 kobo consistent with percentage following the discharge of the corporate’s nine-month monetary effects.
- United Capital started 2026 at N18.70 consistent with percentage however had declined by way of roughly 11.5% as of October 26, rating a hundred and first at the NGX in year-to-date efficiency.
- At N16.55 consistent with percentage, the corporate’s 18 billion exceptional stocks represented a marketplace capitalisation of roughly N298 billion.
- This in comparison with a marketplace capitalisation of N334.8 billion on July 27, when the inventory traded at N18.60 consistent with percentage.
- The nine-month effects spotlight broad-based income expansion, supported by way of more potent funding source of revenue, decrease impairment fees and stepped forward liquidity.
Then again, with funding source of revenue now the corporate’s biggest income contributor, long run profitability stays uncovered to adjustments in rates of interest and marketplace stipulations.
Maintaining income expansion will subsequently rely partially at the corporate’s skill to handle funding returns whilst controlling working bills and protecting its more potent balance-sheet place.
