Banking
UBA Gives Shareholders 25 Kobo Interim Dividend After N335.5bn HY’25 PAT
By Dipo Olowookere
United Bank for Africa (UBA) Plc has announced an interim dividend of 25 Kobo for the first half of 2025, to be paid on Friday, October 10 to shareholders whose names appear in the register of members as of the close of business on Friday, October 03, 2025.
The company revealed the decision of its board on the cash reward proposal after it released its financial statements for the first half of this year to the Nigerian Exchange (NGX) Limited on Thursday.
Analysis of the results by Business Post showed that the lender suffered a contraction in profit before tax in the period ended June 30, 2025, by 3.29 per cent to N388.4 billion from the N401.6 billion recorded in the same period of last year.
However, lower tax payment this period helped UBA to post a 6.04 per cent growth in net profit of N335.5 billion versus the N316.4 billion achieved in the first six months of 2024.
In the first of the two halves of this year, UBA improved its gross earnings by 17.29 per cent to N1.608 trillion from the N1.371 trillion recorded in the same period of 2024.
A breakdown of the earnings showed that the firm earned N1.334 trillion from interest income compared with the N1.004 trillion from the income stream a year earlier, with the net interest income standing at N773.0 billion as of June 30, 2025, versus N674.6 billion as of June 30, 2024.
In the period under consideration, the fees and commission income stood at N253.6 billion compared with N250.6 billion, while fees and commission expense stood at N106.6 billion, in contrast to N105.5 billion in the same period of last year.
A look at its balance sheet showed that loans to were about N7.212 trillion in the first six months 2025 from N6.955 trillion as of December 2024, with deposits from customers at N24.188 trillion in the period under review versus N21.895 trillion in December 2024, reflecting the confidence customers have in the company.
UBA’s total assets stood at N33.269 trillion as of June 30, 2025, versus N30.323 trillion in December 2024, while its total liabilities stood N29.052 trillion in the period under consideration compared with N26.905 trillion in December 2024, as its total equity as of June 30, 2025, stood at N4.216 trillion, in contrast to the N3.419 trillion recorded as of December 31, 2024.
Banking
Applications Open for GTCO ‘Take on Squad’ Hackathon 3.0
By Dipo Olowookere
Tech enthusiasts interested in participating in the Take on Squad Hackathon, organised by Guaranty Trust Holding Company (GTCO) Plc, can now enter the contest via the official portal at https://squadco.com/hackathon.
The programme enters its third edition in 2026, and the theme for this year is Smart Systems: The Intelligent Economy, according to a statement issued by the organisers.
The hackathon brings together developers, designers and entrepreneurs across Nigeria in a collaborative environment to build practical solutions across key sectors, including financial services, healthcare, commerce and digital inclusion.
Participants are challenged to design and build intelligent, data-driven solutions that transform how communities engage with money.
It is part of the organisation’s commitment to fostering innovation, empowering talent, and supporting the development of technology-driven solutions that address real-world challenges across Africa.
“Today’s dynamic, digitally driven world demands continuous innovation, which is shaping how economies grow, how businesses scale, and how societies evolve.
“Through Take on Squad Hackathon, we are deliberately investing in the ideas and talent that will define the future.
“Our objective is not simply to encourage innovation, but to enable its translation into scalable solutions that deliver real and measurable impact.
“This reflects GTCO’s role as a financial services platform that connects capital, capability, and creativity to drive sustainable progress,” the Managing Director of HabariPay, Ms Eduofon Japhet, stated.
The social coding event remains a cornerstone of HabariPay’s mission to foster creativity and problem-solving among emerging tech talents. Competing teams will leverage Squad’s advanced APIs to create scalable digital tools that address everyday challenges faced by businesses and individuals.
Through initiatives such as this, GTCO continues to position itself at the intersection of finance, technology and enterprise, actively shaping the future of digital transformation in Africa.
Banking
Easter: Ecobank Assures Customers Uninterrupted Banking Services
By Dipo Olowookere
Banking services will not be interrupted throughout the Easter public holidays, from Friday, April 3, to Monday, April 6, 2026, for any reason, Ecobank Nigeria has assured its customers.
In a message over the weekend, the member of Africa’s leading pan-African banking group, Ecobank Transnational Incorporated, said customers would continue to enjoy quality service delivery during the period.
It noted that its secure and robust digital platforms would remain fully operational to support financial activities during the festive period.
All digital channels, including the Ecobank Mobile App, Ecobank Business App, USSD *326#, Ecobank Online, OmniPlus, Omnilite, EcobankPay, Ecobank Cards, ATMs, PoS terminals, and over 35,000 Ecobank Xpress Point agent locations nationwide, will remain accessible throughout the holiday, the financial institution further said, urging customers to conveniently conduct transactions at any time using this wide range of digital solutions.
Ecobank customers were encouraged to maximise the bank’s alternative channels for transfers, bill payments, airtime purchases, card services, and account management.
They were also advised to stay vigilant by shopping only on trusted websites; avoiding the sharing of PINs, passwords, and one-time passwords (OTPs); refraining from banking on public Wi-Fi networks; being cautious of urgent or emotionally charged messages; and regularly monitoring their account activity.
“Customers will continue to enjoy a full bouquet of services during the holiday, including local and international funds transfers, bill payments, airtime top-ups, merchant payments, balance enquiries, account statements, and cardless cash withdrawals via ATMs,” the Head of Products & Analytics, Consumer & Commercial Banking at Ecobank Nigeria, Mr Victor Yalokwu, stated.
“We understand that festive seasons come with increased financial activity, and our priority is to ensure our customers enjoy fast, reliable, and secure banking wherever they are.
“Our digital channels are designed to support uninterrupted transactions, and we have strengthened our systems to guarantee optimal performance throughout the Easter break,” he added.
Mr Yalokwu noted that, “Ecobank remains committed to providing innovative financial solutions and exceptional customer service. We wish all our customers and partners a peaceful and joyful Easter celebration.”
Banking
Polaris Bank to Limit Access to VULTe for Four Days
By Dipo Olowookere
Customers may have difficulty accessing the digital platform of Polaris Bank, known as VULTe, during the Easter holidays from Friday, April 3, to Monday, April 6, 2026.
This is because the financial institution is carrying out system maintenance on the platform in its effort to ensure users enjoy a better banking experience.
In a notice over the weekend, the lender said “access to VULTe may be limited,” but it provided an alternative, which is the PolarisXperience.
Polaris Bank, which expressed regret over “any inconvenience” this action may cause its customers, said the “scheduled system maintenance” would happen from 10 pm to 8 am daily, promising that normal service would return after the maintenance.
“In continuation of our commitment to delivering a seamless and improved banking experience, we will be conducting a scheduled system maintenance during the Easter holidays.
“During this period, access to VULTe may be limited. We have provided an alternative channel, PolarisXperience:
“Please go to our website to onboard or use it as an existing user. You can also use this link: (https://elogin.polarisbanklimited.com).
“We regret any inconvenience and appreciate your understanding. Normal service will resume after the maintenance,” parts of the notice seen by Business Post read.
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