By Aduragbemi Omiyale
United Capital Plc impressed its shareholders with a strong financial performance in the first nine months of 2026.
Details of its financial statements for the third quarter of the year showed that gross earnings improved by 50 per cent to N62.47 billion from the N41.54 billion achieved in the same period of last year, driven by growth in fee and commission income by 27 per cent, net investment income by 95 per cent, net trading income by 29 per cent, and net gain on financial assets FVTPL by 22 per cent.
In the period under review, net operating income increased by 48 per cent to N55.58 billion from N37.60 billion, and operating expenses were up by 33 per cent to N23.14 billion from N17.46 billion.
At the bottom line, the pre-tax profit rose by 66 per cent to N41.58 billion from N25.01 billion, while the post-tax profit soared by 65 per cent to N34.83 billion from N21.17 billion.
The financial results indicated that United Capital’s total assets grew by 3 per cent year-to-date to N1.81 trillion from N1.76 trillion in December 2025, due to a 115 per cent year-to-date growth in cash and cash equivalents.
The company’s managed funds increased by 4 per cent year-to-date to N1.04 trillion in September 2026 from N993.64 billion in December 2025, while shareholders’ funds jumped by 58 per cent year-to-date to N237.08 billion from N149.99 billion.
This strong growth was primarily driven by a 76 per cent increase in the fair value reserve and a 38 per cent rise in retained earnings, underscoring the company’s robust capital position and sustained value creation for shareholders.
“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,” the chief executive of United Capital, Mr Peter 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,” he added.
