United Capital Plc has released its H1 2026 results, reporting a pre-tax profit of N24.777 billion for the six months ended June 30, 2026.

This represents a 79.62 per cent year-on-year increase from N13.794 billion in the corresponding period of 2025.

According to the unaudited results, profit after tax also rose by 77.45 per cent year-on-year to N21.097 billion, compared with N11.889 billion in H1 2025, while basic earnings per share increased by 77.27 per cent to 234 kobo from 132 kobo.

Reflecting the stronger earnings performance and its commitment to shareholder returns, the Board declared an interim dividend of 30 kobo per 50-kobo ordinary share, subject to applicable withholding tax and approval.

The qualification date was Monday, July 27, 2026, while payment was scheduled for Thursday, July 30, 2026.

Key highlights for H1 2026 compared with H1 2025 show gross earnings of N37.49 billion, up 57.79 per cent year-on-year from N23.76 billion.

Net investment income stood at N13.81 billion, up 44.59 per cent from N9.55 billion.

Fee and commission income rose to N14.28 billion, up 25.78 per cent from N11.35 billion.

Net trading income surged to N4.96 billion, up 1,082.96 per cent from N419.44 million.

Net operating income climbed to N33.05 billion, up 55.01 per cent from N21.32 billion.

Operating profit rose to N23.32 billion, up 84.48 per cent from N12.64 billion.

Borrowed funds fell to N185.88 billion, down 50.07 per cent from N372.30 billion as of December 2025.

Total assets stood at N1.64 trillion, down 6.72 per cent from N1.76 trillion as of December 2025.

Cash and cash equivalents rose to N400.80 billion, up 39.60 per cent from N287.10 billion as of December 2025.

Commenting on the performance, Group Chief Executive Officer Peter Ashade said: “I am delighted to announce that United Capital Group has once again delivered an exceptional financial performance in the first half of 2026. This impressive performance is a result of the disciplined execution of our strategic priorities, resilience of our robust and diversified business model, prudent risk management, and our unwavering commitment to consistently create sustainable value despite the dynamic operating environment.”

“In line with our commitment to rewarding our shareholders, the Board has approved an interim dividend of 30 kobo per share. As we prepare for the second half of the year, we remain focused on sustaining this momentum by solidifying our market leadership position, strengthening our retail play, expanding our presence across Africa, enhancing our customer value propositions, and delivering superior long-term value to our stakeholders.”

United Capital’s revenue growth was supported by increases across its major income lines.

Net investment income rose by 44.59 per cent to N13.81 billion, while fee and commission income increased by 25.78 per cent to N14.28 billion.

Net trading income also climbed sharply to N4.96 billion from N419.44 million, while gains on financial assets measured at fair value through profit or loss rose to N4.67 billion from N2.01 billion.

These helped gross investment income increase to N78.27 billion from N68.76 billion.

Income from managed funds remained the largest disclosed investment-income component at N59.11 billion, compared with N53.78 billion in the prior-year period.

Income from loans rose to N11.12 billion from N7.26 billion.

Interest from placements and bonds increased to N4.08 billion from N3.23 billion.

However, interest expense on managed funds and other borrowings remained substantial, rising to N64.46 billion from N59.21 billion.

This absorbed most of the Group’s gross investment income, leaving net investment income of N13.81 billion.

On costs, operating costs also increased during the period.

Personnel expenses rose to N4.02 billion from N3.11 billion, while other operating expenses increased to N9.81 billion from N7.18 billion.

Depreciation of property and equipment rose to N552.76 million from N167.70 million.

The cost increase was partly moderated by an impairment write-back of N362.09 million, compared with an impairment charge of N507.95 million in the corresponding period.

Despite the higher operating expenses, operating profit increased faster than revenue, rising by 84.48 per cent to N23.32 billion.

The Group also recognised N1.45 billion as its share of accumulated profit from associates, compared with N1.15 billion in the prior-year period, lifting pre-tax profit to N24.78 billion.

On the balance sheet, cash and cash equivalents increased by N113.70 billion to N400.80 billion, while investment securities declined to N1.08 trillion from N1.34 trillion.

Borrowed funds fell by more than half to N185.88 billion, although managed funds increased to N1.04 trillion from N993.64 billion.

Total shareholders’ funds rose to N187.09 billion from N150.00 billion, supported mainly by an increase in fair-value reserves to N117.25 billion and retained earnings of N59.89 billion.

United Capital closed at N18.60 per share on Monday, July 27, 2026, representing a gain of 0.5 per cent from its previous closing price of N18.50.

The stock began 2026 at N18.70 and had declined by 0.53 per cent year to date.