UBA is the only Tier 1 bank in Nigeria that grew its profit in the first three quarters of 2025 compared to 2024

Key points

  • FUGAZ posted a combined ₦2.91 trillion in profit from Q1 to Q3 of 2025.
  • Access Bank recorded the lowest PAT among the FUGAZ
  • UBA recorded a 3% year-on-year increase in PAT
  • FUGAZ recorded an average year-on-year percentage change of -11.2% for the period

FUGAZ profit in Q1 to Q3 2025

Nigerian tier 1 banks posted a combined ₦2.91 trillion from Q1 to Q3 of 2025, indicating a significant drop compared to ₦3.42 trillion recorded in the same period last year. Of the Nigerian Tier 1 banks (FUGAZ), only UBA posted a year-on-year increase in profit, while Guaranty Holding Company recorded the highest drop at 35.5%.

Source:

First HoldCo, United Bank for Africa, Guaranty Holding Company, Access Holding, and Zenith Bank

Period:

Q1-Q3 2025
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