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United Capital, a Nigerian financial services firm grew its profit by 32% in the 9 months’ period that ended September 2025, largely due to increase in investment and net trading income.
An interim dividend of 30 kobo per share was declared to reward shareholders.
United Capital Group’s total investment income soared by 50.3% to N115.9 billion led by income from managed funds and income from loans. Higher interest expense (on managed funds and other borrowings) which rose to N104.66 billion, put net investment income up 34% to N11.3 billion, in the 9-months period.
Net trading income rose 185% to N9.739 billion from N3.4 billion in 2024.
Group fees and commission income came in at N16.54 billion, up 57.5% compared to September 2024 levels. They were made up of Financial advisory fees of N4.12 billion and other fees and commissions of N12.4 billion.
Other fees and commissions income include brokerage fee of N3.59 billion (2023: N2.03bn), Management fee of N6.08 billion (2023: N3.68b) and trustees’ fees of N1.44 billion (2023: N676m), which are recognized at point-in-time.
Management fees and transaction sign-on fees are recognized at point-in-time the mandate is consummated. Management fee accrues monthly as a percentage of the net asset value (NAV) at each point in time.
The Board approved payment of interim dividend of 30 kobo per share for a total of 18,000,000,000 ordinary shares of 50 kobo each which translates to a dividend payment of N5,400,000,000 (Five billion four hundred million naira only).
Investment in Associates Heirs General Insurance, Heirs Life Assurance Pays Off
United Capital booked N1.86 billion as share of accumulated profit of associates in the period, helping to boost the topline gross profit by 7.4% to N25 billion in Q3, 2025.
United Capital owns a 25% stake each in Associate Companies Heirs General Insurance Limited and heirs Life Assurance Limited. Heirs Insurance Limited had total assets of N36.9 billion as at September 2025, while Heirs Life Assurance total assets were N120 billion for the period.
Heirs General Insurance reported profit after tax of N3.13 billion, while Heirs Life Assurance had profit of N4.29 billion as at September 2025.
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