By Beatrice Chuku
United Bank for Africa (Sierra Leone) Limited reported a rise in annual profit for 2025, driven by higher interest income, increased customer deposits and growth in its loan portfolio, according to its audited financial statements.
The bank posted a profit after tax of 741.046 million leones for the year ended Dec. 31, 2025, up from 622.830 million leones in 2024.
Total interest income rose to 1.078 billion leones from 909.253 million leones a year earlier, while net interest income increased to 990.233 million leones from 824.176 million leones, reflecting stronger earnings from lending and investment activities.
Fees and commission income also grew to 191.243 million leones from 174.658 million leones in 2024, while net trading and foreign exchange income stood at 52.123 million leones. Total net operating income climbed to 1.203 billion leones, compared with 1.027 billion leones the previous year.
Profit before tax rose to 988.997 million leones from 833.642 million leones in 2024, despite increased operating expenses linked to business expansion.
The bank’s total assets expanded to 6.080 billion leones in 2025 from 5.253 billion leones in 2024, while loans and advances to customers grew to 1.705 billion leones.
Customer deposits increased to 3.876 billion leones from 3.514 billion leones, indicating rising customer confidence, the bank said.
Shareholders’ funds strengthened to 991.823 million leones from 770.057 million leones, supported by retained earnings and improved profitability.
The financial statements were approved by the board on March 26, 2026. Independent auditors said the accounts presented a true and fair view of the bank’s financial position in line with International Financial Reporting Standards.
United Bank for Africa (Sierra Leone) is part of the pan-African UBA Group, which operates across multiple African markets and provides retail, corporate and digital banking services.
The banking sector in Sierra Leone has seen steady growth in recent years, supported by increased financial inclusion, expansion in digital banking and rising demand for credit among businesses and consumers.
