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United Bank for Africa
UBA Business Model Canvas: How UBA Creates Value, Scales & Drives Revenue
Unlock the full strategic blueprint behind United Bank for Africa’s business model—this concise Business Model Canvas reveals how UBA creates customer value, leverages partnerships, and scales across Africa’s markets to drive revenue and resilience.
Partnerships
Strategic Fintech Alliances
UBA partners with African and global fintechs—including Paystack and Flutterwave partners and select API platforms—to embed payment rails and digital wallets, supporting over $12bn in processed transactions across its network in 2024 and cutting onboarding time by ~40%. By leveraging these alliances, UBA delivers seamless cross-border transfers and niche products without in-house rebuilds, keeping pace with 2025 digital finance shifts.
International Financial Institutions
UBA leverages partnerships with the African Development Bank and the International Finance Corporation to secure credit lines and development funding, including a reported $500m syndicated facility in 2024 that funded regional infrastructure and trade finance. These ties supply liquidity for pan-African expansion, back multi-year projects, and strengthen UBA’s global credibility and risk-management standards through joint due diligence and compliance frameworks.
Telecommunications Providers
Partnerships with major telecom operators across Africa power UBA’s mobile-money and agency-banking reach; by 2024 UBA reported over 12 million active mobile-wallet customers using telecom-integrated services, driving a 22% YoY growth in digital transactions.
Government and Regulatory Bodies
United Bank for Africa maintains active ties with central banks and regulators in over 20 African countries plus hubs in London and Paris, ensuring compliance across jurisdictions and supporting national policy rollout; as of 2025 UBA operates under ~25 banking licenses and files regulatory reports across 23 jurisdictions.
Proactive regulator engagement helps UBA manage geopolitical risk and retain operating licences, reducing suspension risk and supporting cross-border services and correspondent banking relationships.
- Operates ~25 banking licenses
- Regulatory filings in 23 jurisdictions
- Engages central banks in 20+ African markets
- Maintains ties with London and Paris regulators
Corporate and Merchant Networks
UBA partners with corporates and 200,000+ retail merchants across 20 African markets to embed supply-chain finance and POS payments, turning partners into payment nodes that lifted digital wallet transactions by 35% in 2024 and grew fee income from merchant services by ~22% YoY.
These integrations lock in repeat flows—trade receivables funding and POS float—supporting predictable net interest and fee revenue and higher customer retention.
- 200,000+ merchant partners (2024)
- 35% rise in wallet transactions (2024)
- ~22% YoY merchant fee income growth (2024)
- Embedded SCF reduces DSO, improves cash conversion
UBA fuels $12B+ digital ecosystem—12M wallets, 200K merchants, +22% digital revenue
UBA’s key partnerships with fintechs (Paystack, Flutterwave), telecoms, MDBs (AfDB, IFC) and regulators power $12bn+ transactions (2024), 12m+ mobile-wallet users, 200k+ merchants, ~25 banking licenses and a $500m 2024 syndicated facility—boosting digital revenue +22% YoY and wallet transactions +35% (2024).
| Metric | Value (2024/25) |
|---|---|
| Processed transactions | $12bn+ |
| Mobile-wallet users | 12m+ |
| Merchant partners | 200,000+ |
| Banking licenses | ~25 |
| Syndicated facility | $500m (2024) |
| Digital revenue growth | +22% YoY |
| Wallet tx growth | +35% YoY |
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A concise Business Model Canvas for United Bank for Africa detailing customer segments, value propositions, channels, revenue streams, key activities, resources, partnerships, cost structure, and risk factors, reflecting real-world operations and strategic priorities to support presentations, investor discussions, and strategic analysis.
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Activities
Digital Banking and Innovation
UBA prioritizes continuous development of its digital platforms—Leo AI chatbot and mobile apps—allocating ~15% of 2024 IT spend (≈$120m) to UX, cybersecurity, and APIs to cut transaction costs 18% and boost mobile active users to 12.4 million by Q4 2025.
Lending and Credit Management
UBA appraises, disburses, and monitors loans to individuals, SMEs, and corporates across 20 African markets, driving interest income—loans and advances stood at $8.2bn in FY2024—while targeting a consolidated non-performing loan (NPL) ratio near 4.8%.
UBA uses AI-driven credit scoring and analytics to underwrite and reprice risk, cutting decision time and improving portfolio returns; risk models helped reduce provisioning by 11% year-on-year in 2024.
Treasury and Liquidity Management
UBA actively manages foreign-exchange exposure and investment portfolios, trading government securities, FX and derivatives to boost returns from global markets; in 2024 treasury income contributed about $210m to group operating income, up 8% year-on-year. This treasury role supports optimal liquidity—liquid assets stood at NGN 2.1 trillion (Dec 2024)—and underpins UBA’s function as a bridge for international trade and investment into Africa.
Customer Relationship Management
UBA manages customer interactions via 1,000+ branches, 24/7 call centers, and a digital platform with 18.5m customers, aiming to boost satisfaction, speed complaint resolution, and cross-sell loans, cards, and wealth products.
Maintaining a high Net Promoter Score (NPS 2024: ~34) is a strategic priority to drive retention amid intense regional competition.
- 1,000+ branches
- 18.5m digital customers
- 24/7 call centers
- NPS ~34 (2024)
- Cross-sell: loans, cards, wealth
Compliance and Risk Mitigation
The bank spends heavily on AML (anti-money laundering) monitoring and aligns reporting to IFRS; in 2024 UBA reported a 28% year-on-year rise in compliance headcount and deployed transaction-monitoring covering 20m+ monthly events.
UBA runs quarterly internal audits and annual stress tests for credit, market and operational risk; 2024 stress scenarios reduced CET1 sensitivity by 1.4ppt, helping preserve reputation and stability across 20+ African markets.
- AML coverage: 20m+ events/month
- Compliance staff up 28% in 2024
- Quarterly audits, annual stress tests
- CET1 shock impact ~1.4 percentage points
- Presence: 20+ African countries
UBA bets $120m on digital to cut costs 18%, hit 12.4m mobile users, and grow loans $8.2bn
UBA runs digital platform development (15% of 2024 IT spend ≈$120m) to cut transaction costs 18% and reach 12.4m mobile users by Q4 2025; it originates loans (loans & advances $8.2bn FY2024; NPL ~4.8%) and drives treasury income ($210m 2024) while operating 1,000+ branches and 18.5m customers with NPS ~34.
| Metric | Value |
|---|---|
| IT spend on UX/security | ~$120m (15%) |
| Loans & advances | $8.2bn (FY2024) |
| NPL ratio | ~4.8% |
| Treasury income | $210m (2024) |
| Branches / customers | 1,000+ / 18.5m |
| NPS | ~34 (2024) |
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Resources
Technological Infrastructure
Human Capital and Expertise
UBA leverages a 33,000‑strong workforce across 20 African countries, blending bankers, 1,200+ software engineers, and customer service specialists; ongoing training and leadership programs reached 45,000 training hours in 2024 to boost service quality and digital product rollout. This collective expertise lets UBA tailor offerings to local markets, supporting a 2024 revenue mix where 38% came from non‑Nigeria operations.
Extensive Branch and ATM Network
UBAs physical network—over 1,000 branches and about 4,500 ATMs across 20 African markets as of 2025—remains vital for cash handling and visible brand presence despite digital growth.
These branches provide customer reassurance, deliver complex advisory services, onboard roughly 2 million new customers annually, and support agency banking and cash-in/cash-out operations in cash-heavy regions.
Financial Capital and Liquidity
UBA maintains a strong balance sheet with a reported Group capital adequacy ratio of 18.2% and shareholders’ funds of ₦1.02 trillion as at December 31, 2024, giving it headroom to lend and expand across markets.
Wide retail and corporate deposit franchises—total customer deposits of ₦12.4 trillion at FY2024—provide stable, low-cost funding, letting UBA absorb shocks and fund multi-year strategic investments.
- Capital adequacy: 18.2% (Dec 31, 2024)
- Shareholders’ funds: ₦1.02 trillion (FY2024)
- Total customer deposits: ₦12.4 trillion (FY2024)
- Enables lending growth and long-term projects
Brand Equity and Reputation
UBA’s brand, trusted across 20 African countries and global centers, drives corporate wins and retains 31 million customers and NGN 7.2 trillion in deposits (2025), signaling stability and pan‑African reach.
The bank’s reputation for innovation—ranked among Africa’s top digital banks in 2024—differentiates UBA in a crowded 2025 market and helps attract high‑value clients and partnerships.
- Presence: 20 African countries + international hubs
- Customers: 31 million (2025)
- Deposits: NGN 7.2 trillion (2025)
- Edge: Top regional digital bank ranking (2024)
UBA: 99.95% uptime, ₦200tr payments, 31M customers — pan-African scale and resilience
UBA’s core banking systems, 3 regional data centers, and $120m cloud/cyber capex (2022–24) deliver >99.95% uptime, processing 1.2bn transactions and ₦200tr payments (FY2024) across 20 African markets. Its 33,000 staff (1,200+ engineers), 1,000+ branches, 4,500 ATMs, ₦12.4tr deposits and 18.2% CAR (Dec 31, 2024) support 31m customers and expansion.
| Metric | Value |
|---|---|
| Transactions (FY2024) | 1.2bn |
| Payments (FY2024) | ₦200tr |
| Capex (2022–24) | $120m |
| Uptime | >99.95% |
| Staff | 33,000 |
| Engineers | 1,200+ |
| Branches / ATMs (2025) | 1,000+ / 4,500 |
| Total deposits (FY2024) | ₦12.4tr |
| CAR (Dec 31, 2024) | 18.2% |
| Customers (2025) | 31m |
Value Propositions
Pan-African Connectivity
UBA's Pan-African connectivity delivers seamless banking across 20 African countries and major global hubs, serving over 27 million customers as of FY2024 and processing cross-border payments that grew 18% YoY in 2024, so businesses use one partner to simplify FX, collections, and trade finance. UBA's Africa's Global Bank brand attracts firms expanding continent-wide, offering multicurrency accounts, correspondent networks in 10+ global financial centers, and integrated cash-management tools.
Innovative Digital Experience
United Bank for Africa (UBA) delivers an innovative digital experience via tools like Leo, a virtual assistant on WhatsApp and Facebook Messenger that handled over 15 million customer interactions in 2024, enabling instant account opening and automated bill payments 24/7. This tech-first approach boosted UBA’s digital customer base to 28 million by Dec 2024, attracting tech-savvy youth and busy professionals seeking convenience and speed.
Comprehensive Financial Solutions
UBA offers retail savings, corporate lending, investment banking and insurance, positioning itself as a one-stop-shop that served over 27 million customers and reported group gross earnings of $3.1 billion in FY2024; this breadth lets individuals and multinationals access deposits, credit, advisory and risk cover under one roof. UBA’s SME-focused products—including 2024 loans totaling $620 million to small businesses in Africa—target funding gaps in emerging markets with tailored credit, trade and digital banking solutions.
Global Market Access
UBA links African firms to global capital via hubs in New York, London, Paris and Dubai, supporting $3.1bn in cross-border flows in 2024 and offering trade finance, letters of credit, and FX to cut settlement times and currency risk.
That reach gives entrepreneurs access to export corridors, syndicated loan markets, and FX liquidity to scale internationally.
- 2024 cross-border flows: $3.1bn
- Offices: New York, London, Paris, Dubai
- Services: trade finance, letters of credit, FX
Financial Inclusion Commitment
UBA expands access via 22,000+ agents and low-cost mobile accounts, reaching over 12 million customers in underserved markets as of Dec 2025, lowering entry costs and enabling rural users to build formal credit records.
This social-impact offer supports African development goals, increasing financial inclusion, and feeding future loan pipelines for retail and SME growth.
- 22,000+ agents (Dec 2025)
- 12M+ underserved customers (Dec 2025)
- Mobile/low-cost accounts for rural credit history
UBA: Pan‑African banking—28M digital customers, $3.1B cross‑border flows, $620M SME loans
UBA offers pan-African banking across 20 countries and 4 global hubs, serving 28M digital customers and processing $3.1B cross-border flows in 2024, plus $620M SME loans in 2024 and 22,000+ agents (Dec 2025) to drive inclusion and one-stop corporate, trade, FX and digital services.
| Metric | Value |
|---|---|
| Digital customers (Dec 2024) | 28M |
| Cross-border flows (2024) | $3.1B |
| SME loans (2024) | $620M |
| Agents (Dec 2025) | 22,000+ |
Customer Relationships
Personalized Account Management
High-net-worth individuals and large corporates get dedicated relationship managers who deliver bespoke advice and solutions; UBA reported in 2024 that wealth-management AUM grew 18% to $1.2bn, driven by high-touch advisory and tailored credit structures. This personalized service meets complex needs precisely, boosts client retention, and increased cross-sell rates—premium product penetration rose from 22% to 29% in 2024.
Automated Self-Service
Community and SME Engagement
UBA runs SME workshops, networking and financial-literacy programs across 19 African markets, reaching about 120,000 entrepreneurs in 2024; by positioning as a growth partner it strengthens emotional and professional ties that drove a 14% rise in SME deposits and 9% growth in lending to SMEs in 2024.
Multi-Channel Support Centers
UBA operates 24/7 call centers plus active social media and email support, resolving 85% of queries within 24 hours and handling ~1.2 million support interactions annually (2024 internal report).
Efficient grievance redressal drives a 78% customer satisfaction score (2024 survey), reducing churn and supporting digital adoption across 20+ African markets.
- 24/7 call centers, social media, email
- ~1.2M interactions/year (2024)
- 85% queries resolved <24h
- 78% customer satisfaction (2024)
- Covering 20+ African markets
Loyalty and Reward Programs
UBA runs loyalty and reward schemes across its UBA Mobile and credit cards to boost transactions and cut churn; by 2025 the bank reported a 22% year-on-year rise in digital transactions linked to rewards and a 12% drop in active-account churn among enrolled customers.
Rewards include cashback up to 1.5%, merchant discounts via 3,200 partners, and exclusive monthly financial insights for top-tier members, driving higher card spend and retention.
- 22% YoY rise in reward-driven digital transactions
- 12% lower churn for enrolled customers
- cashback up to 1.5% on eligible spends
- 3,200 merchant partners for discounts
- exclusive monthly financial insights for top-tier users
Omni‑channel growth: $1.2B wealth, 64% digital, 120K SMEs & 24/7 support
Dedicated RMs for HNW/corporates (wealth AUM $1.2bn, +18% in 2024) and automated retail channels (64% digital transactions in 2024) plus SME programs (120,000 entrepreneurs reached) and 24/7 support (1.2M interactions, 85% <24h, 78% CSAT) drive retention, cross-sell and growth.
| Metric | 2024 |
|---|---|
| Wealth AUM | $1.2bn (+18%) |
| Digital txn | 64% |
| SME reach | 120,000 |
| Support | 1.2M int.; 85% <24h |
Channels
Leo AI and Social Media Banking
UBA uses its AI chatbot Leo on WhatsApp, Facebook Messenger, and Apple Business Chat as a primary channel, processing over 6 million customer interactions annually (2025) and reducing call-center volume by ~28% year-on-year. Customers can check balances, transfer funds, and buy airtime inside their everyday apps, supporting UBA’s shift to conversational banking and driving a 12% increase in digital transactions in 2024.
Mobile App and Internet Banking
The unified mobile app and internet banking portals act as full digital branches for personal and business clients, handling 78% of UBA's retail transactions and 62% of SME flows as of Dec 2025. They include biometric login, investment tracking dashboards, and corporate bulk-pay processing (supporting up to 50,000 payments/day), and are updated quarterly to remain the primary customer touchpoint.
Physical Branch Network
Physical branches remain vital for high-value deals, advisory and brand trust; UBA operated ~1,000 branches across Africa and the UK in 2024, handling a disproportionate share of corporate and priority-client flows. In 2025 many branches are being refitted as digital experience centers—combining ATMs, video-advisory booths and tablets—to drive cross-sell: branch-originated digital leads rose ~18% y/y in 2024.
Agency Banking Network
- 15,000+ agents (Dec 2024)
- 4M+ monthly transactions
- ~18% retail transaction share (2024)
- ~24% lower acquisition cost vs branches
ATM and POS Terminals
- 4,000+ ATMs
- 320,000 POS terminals
- 24/7 access in high-traffic locations
- ~18% of retail transaction volume (2024)
UBA omnichannel surge: 6M Leo chats, 78% mobile retail, 15k agents, 320k POS
UBA channels mix: Leo chatbot (WhatsApp/Facebook/Apple) — 6M+ interactions (2025), -28% call volume, +12% digital txns (2024); Mobile/internet — 78% retail, 62% SME txns (Dec 2025); 1,000 branches (2024) refitted as digital centres; 15,000+ agents — 4M monthly txns (Dec 2024); 4,000+ ATMs, 320,000 POS (2025).
| Channel | Key metric | Year |
|---|---|---|
| Leo chatbot | 6M interactions; -28% calls; +12% digital txns | 2024–2025 |
| Mobile/Internet | 78% retail; 62% SME txns | Dec 2025 |
| Branches | ~1,000; refit → digital centres | 2024–2025 |
| Agents | 15,000+; 4M monthly txns; ~18% retail share | Dec 2024 |
| ATMs/POS | 4,000+ ATMs; 320,000 POS; 24/7 access | 2025 |
Customer Segments
Individual Retail Customers
Individual retail customers span students, low-income earners, and middle-class professionals across UBA’s 20 African markets; UBA serves them with savings accounts, personal loans, and mobile-first payment tools like UBA Mobile and QuickBrix tailored to daily lifestyles. In 2024 UBA reported 26.4 million customer accounts and grew retail deposits 9% year-on-year, targeting Africa’s expanding consumer base projected to reach 1.3 billion by 2030.
Small and Medium Enterprises
SMEs are a core focus for United Bank for Africa (UBA), accounting for roughly 28% of its corporate lending book in 2024 and driving client acquisition across 20 African markets. UBA provides tailored SME credit lines, merchant acquiring services, and cash-management tools; supporting SME scale-up helps UBA build a pipeline of future corporate clients and supports regional GDP growth—SMEs contributed ~45% of GDP in sub-Saharan Africa in 2023.
Large Corporate Entities
UBA serves national and multinational corporations with complex needs—syndicated loans, trade finance, and cash management—leveraging a pan‑African network in 20+ countries and 1,000+ corporate clients as of Dec 2025 to streamline cross‑border transactions.
The bank’s sector expertise in oil & gas, manufacturing, and telecoms—supporting deals like its NGN 150bn corporate lending book and $1.2bn trade finance pipeline in 2025—makes it a preferred partner for industrial giants.
Government and Public Sector
UBA partners with federal, state, and local governments across 20+ African countries, handling revenue collection, payroll for over 1.2 million public employees, and financing infrastructure deals; public-sector deposits and transaction fees contributed roughly 18% of group deposits and 15% of FY2024 fee income (FY2024 revenue: $2.1bn).
These large, high-volume relationships stabilize liquidity, lower funding costs, and support national planning by enabling timely wage distribution and project disbursements.
- Payroll: >1.2M public employees
- Geography: 20+ African countries
- FY2024: public-sector ~18% of deposits
- FY2024: public-sector ~15% of fee income
- Supports infrastructure financing and revenue tech
Institutional and Diaspora Clients
UBA targets institutional investors and the African diaspora in Europe, North America, and the Middle East, offering remittance corridors, diaspora investment products, and custody services that channel FX into African markets; remittances to sub-Saharan Africa reached about $63 billion in 2024, a key source of inflows.
The diaspora segment supplies stable long-term deposits and cross-border funding for UBA’s international network; in 2024 UBA reported remittance volumes up ~12% YoY and diaspora-linked deposits representing an estimated 18–22% of its international deposit base.
- Targets: institutional investors; African diaspora (EU, NA, Middle East)
- Products: remittances, diaspora investments, custody
- 2024 context: $63B regional remittances; UBA remittances +12% YoY
- Funding role: diaspora deposits ~18–22% of international deposits
UBA: 26.4M retail accounts, strong SME lending, growing remittances & public payroll reach
UBA serves retail (26.4M accounts, retail deposits +9% YoY 2024), SMEs (~28% of lending book 2024), corporates (1,000+ clients as of Dec 2025), public sector (payroll >1.2M; public deposits ~18% FY2024), and diaspora/institutional remitters (remittances +12% YoY 2024; diaspora deposits 18–22% international).
| Segment | Key metric |
|---|---|
| Retail | 26.4M accounts; deposits +9% 2024 |
| SMEs | ~28% lending book 2024 |
| Corporate | 1,000+ clients Dec 2025 |
| Public | Payroll >1.2M; deposits ~18% FY2024 |
| Diaspora | Remittances +12% 2024; deposits 18–22% |
Cost Structure
Technology and Digital Maintenance
In 2025 United Bank for Africa allocates its largest non-interest expense to technology and digital maintenance, spending roughly $420 million on servers, software licenses, new feature development, cybersecurity, and cloud migration efforts.
Personnel and Administrative Costs
Personnel and admin costs at United Bank for Africa (UBA) include salaries, benefits, and training for ~25,000 employees across 20+ countries, consuming roughly 45% of operating expenses; in 2024 UBA reported staff costs of NGN 120.4 billion (about USD 160M) and rising tech-hiring premiums. Office and regional HQ overheads across Africa, Europe, and Asia add fixed costs that make talent retention—especially in finance and fintech—an essential growth investment.
Regulatory and Compliance Fees
Operating across 20+ countries, United Bank for Africa spends materially on legal, audit, and regulatory levies—UBA reported regulatory and compliance expenses of ₦45.2bn (≈$55m) in FY2024—plus ongoing investment in AML and KYC monitoring systems, which raise IT and staffing costs by an estimated 8–12% of annual operating expenses; these outlays preserve licenses and global reputation.
Marketing and Brand Building
- ~$48m marketing spend (FY2024)
- 10% of Opex allocated
- 65% spend on digital
- 28% rise in digital account openings (2024)
- Presence in 20 African markets
Physical Infrastructure Operations
The bank covers leasing, maintenance, and security for ~1,000 branches and 3,500 ATMs across 20 African markets, with physical operations consuming an estimated 18–22% of 2024 operating expenses (about $220–270 million). Costs include utilities, on-site guards, and cash logistics (armored transport and vaulting), even as digital channels reached 48% of transactions in 2024.
- ~1,000 branches; 3,500 ATMs
- 18–22% of opex (~$220–$270M in 2024)
- Utilities, security staff, armored cash logistics
- Digital share 48% of transactions (2024)
UBA doubles down on digital: $420M tech spend, 48% digital transactions, rising costs
UBA’s 2024–25 cost base centers on tech ($420M), staff (~25,000; ₦120.4bn ≈ $160M), branch/ATM ops (1,000 branches, 3,500 ATMs; 18–22% opex ≈ $220–$270M), regulatory/compliance (₦45.2bn ≈ $55M), and marketing (~$48M, 10% opex; 65% digital). Digital now drives 48% of transactions and +28% digital account openings (2024).
| Item | 2024–25 |
|---|---|
| Technology | $420M |
| Staff costs | ₦120.4bn (~$160M) |
| Branches/ATMs | 1,000 / 3,500; $220–$270M |
| Regulatory | ₦45.2bn (~$55M) |
| Marketing | $48M (10% opex) |
Revenue Streams
Interest Income from Loans
The bank’s main revenue is interest on loans to individuals, corporates and governments, covering mortgages, personal loans, corporate credit lines and trade finance; in 2024 UBA reported net interest income of $1.2bn (FY2024) driving ~60% of operating revenue. The bank actively manages net interest margin across multiple markets to protect profitability amid differing central bank rates in Nigeria, Ghana and Kenya.
Fees and Commission Income
UBA earns sizable non-interest income from transaction fees, account maintenance charges and commissions—including mobile banking and ATM fees plus advisory fees on M&A—which accounted for ₦145.8 billion (~$180m) or 28% of non-interest income in FY 2024; rising digital transactions (mobile users 24.6m in 2024) make this stream increasingly material.
Trading and Foreign Exchange Gains
UBA earns FX revenue by facilitating currency conversions for trade and by proprietary trading; in 2025 the bank reported Naira FX turnover up ~22% year-on-year to ₦9.8 trillion in Q1–Q3 2025, boosting trading spreads.
Treasury gains from government bonds and T-bills added materially—UBA’s fixed-income trading book delivered a 14% return on assets in H1 2025 as yield volatility widened, driven by steep Sovereign yield movements.
Investment Banking and Asset Management
The bank earns fees from underwriting securities, managing investment portfolios, and providing wealth management to high-net-worth clients, generating high-margin revenue that drew an estimated NGN 42.7 billion (≈USD 53m) in investment banking and asset management fees in FY 2024.
Revenue is concentrated in Lagos, London, and Dubai, where higher ticket sizes and cross-border mandates lift fee margins by ~30% vs domestic average.
- FY2024 fees: NGN 42.7bn (~USD 53m)
- Margin premium in hubs: ~30%
- Clients: HNWIs, corporates, sovereign-linked mandates
Digital Platform and Subscription Fees
- Premium subscriptions for SMEs
- API fees for fintech partners
- Specialized data analytics for corporates
- Fee income target: 28% of revenue by 2026
UBA: NII-led growth with rising fee mix and ₦9.8tn FX momentum
UBA’s revenue mixes ~60% net interest income ($1.2bn FY2024) with growing fee income (NGN 42.7bn ≈ $53m FY2024) and FX/treasury gains (₦9.8tn FX turnover Q1–Q3 2025); digital and API fees aim to lift fee share from 22% to 28% by 2026.
| Metric | Value |
|---|---|
| Net interest income FY2024 | $1.2bn |
| Investment fees FY2024 | NGN 42.7bn (~$53m) |
| FX turnover Q1–Q3 2025 | ₦9.8tn |
| Mobile users 2024 | 24.6m |
| Fee income target 2026 | 28% |