United Capital Group, a leading Pan-African investment bank and financial services group, has announced its audited financial results for the 2024 financial year, further extending its track record of exceptional financial performance and enhanced value for shareholders.
The Group recorded a 74% increase in Profit Before Tax (PBT) to N30.10 billion and an 111% increase in Profit After Tax (PAT) to N24.10 billion. This stellar growth was driven by an 83% growth in Total Assets to N1.70 trillion and a 47% growth in Shareholders’ Funds to N133.50 billion.
Speaking on the Group’s performance, Mr. Peter Ashade, Group Chief Executive Officer, United Capital Plc, said, “I am honoured to inform our stakeholders of the Group’s exceptional financial performance in 2024. Despite a challenging business environment, we achieved remarkable growth, reinforcing our market leadership and unwavering commitment to our shareholders.”
Continuing its decade-long legacy of dividend payments, United Capital announced a dividend increase of 33% to N14.4 billion. This follows a landmark interim dividend payment to shareholders of N0.90 per share and a 2-for-1 bonus share issuance that effectively tripled investors’ holdings, significantly enhancing their equity position. The Group also declared a final dividend of 50 Kobo per share, bringing the total dividend payout for the year to N2.40 per share – a monumental milestone in the Nigerian capital market.
Board Chairman, Prof. Chika Mordi, reinforced the Group’s commitment to sustainable growth, stating: “United Capital Group held true to its philosophy of creating shared prosperity by delivering record profitability and significant corporate actions. We will continue to strengthen governance frameworks across the Group to protect investors’ assets and sustain superior value delivery to our stakeholders well into the foreseeable future.”
The Group’s stellar performance in 2024 was bolstered by its leadership in executing landmark transactions, including the FGN Domestic US Dollar Bond issuance and the N1.8 trillion listing of Transcorp Power on the Nigerian Exchange (NGX), among others. These achievements further cemented the Group’s reputation as a market leader, earning multiple prestigious industry awards across its business lines.
With a proven track record of resilience, innovation, and strategic growth, United Capital has proven to be the ultimate shareholders’ dream, delivering on its promise of long-term value creation. With an already strong start to 2025, the Group is well-positioned to sustain its leadership in the Nigerian Capital Market and expand its footprint across Africa’s financial ecosystem.
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