United Bank for Africa (UBA) Plc witnessed a significant boost in its market valuation on the Nigerian Exchange, climbing by 10% to reach a new high of ₦1.625 trillion. This surge followed a robust rally driven by renewed investor appetite for the bank’s shares.
UBA’s stock price soared to ₦39.60, up from ₦36 at the previous trading session, highlighting a growing optimism among market participants.
According to equity analysts, the sharp rally was influenced by heightened investor interest following a strategic engagement at UBA’s headquarters in Lagos. The meeting, which brought together CEOs from the bank’s African subsidiaries, reportedly reinforced investor confidence in the group’s Pan-African expansion strategy.
Trading data from the Nigerian Exchange (NGX) revealed that over 64.5 million units of UBA shares were exchanged on the floor of the market, amounting to a transaction value of ₦2.52 billion. Market insiders attribute the buying momentum to anticipatory positioning ahead of the bank’s second-quarter earnings report.
UBA’s management, in its half-year corporate briefings, reaffirmed its commitment to expanding its retail banking footprint across key African markets, with strategic investments aimed at scaling operations and customer engagement.
The ongoing accumulation of banking stocks by investors reflects bullish sentiments across the sector, as stakeholders look to capitalise on potential interim dividends and stable financial results.
While some market watchers predict that Nigeria’s interest rates may ease in the coming months, they note that UBA’s broad presence in economically significant African markets could offset any margin pressures arising from a lower interest rate regime.
As expectations build ahead of the Q2 earnings season, UBA remains one of the standout banking stocks to watch in 2025.
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