UNITED BANK FOR AFRICA (UK) LIMITED

Figures converted to GBP from USD at 0.748 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  -9.9%

  £23,301,189 → £20,991,254

• Cash

  +12.1%

  £68,214,099 → £76,495,477

• Net assets

  +5.7%

  £56,116,469 → £59,287,583

• Employees

  +34%

  47 → 63

• Operating profit

  -27.8%

  £13,377,439 → £9,657,621

• Profit before tax

  -27.8%

  £13,377,439 → £9,657,621

• Wages

  +21.7%

  £4,868,057 → £5,924,348

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. UNITED BANK FOR AFRICA (UK) LIMITED 2018-04-13 → present
2. UBA CAPITAL (EUROPE) LIMITED 2007-12-13 → 2018-04-13
3. AFRINVEST LIMITED 2002-05-07 → 2007-12-13
4. AFRINVEST SECURITIES LIMITED 1995-09-21 → 2002-05-07

Accounting basis

IFRS

Reporting scope

Standalone (parent only)

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“the Directors are satisfied that the Bank as a whole has adequate resources to continue in operation and meet their liabilities as they fall due for a period of 12 months from the date of approval of the financial statements. In addition, the Directors have also considered the undertaking by the parent, UBA PLC, to provide such financial assistance as is necessary for the Bank to fulfil its obligations and therefore continue to adopt the going concern basis in preparing the financial statements.”

Significant events

• “The 2024 financial year was marked with several inflection points as macroeconomic and geopolitical headwinds continued to affect the global economy.”
• “The 2024 financial year saw a significant increase in regulatory scrutiny and financial risk affecting the banking industry.”
• “The global economy in FY2024 remained challenging and underwhelming as the world continued to grapple with economic and political shocks from global trade and geopolitical inflection points within the year.”
• “In October 2024, the Government of Ghana withdrew the Ghana 0 04/07/25 Bond (Old Bond) in the Amortised Cost portfolio and replaced with the issuance of two separate bonds with new maturities Ghana 0 07/03/26 (US$0.2m) and Ghana 1.5 01/03/37 (US$4.4m) (New Bonds). The new bonds are recognised as a POCI and treated in line with the POCI policy, and IFRS9 requirements.”
• “At the beginning of 2024, the Bank maintained US$6.0m investment in a Eurobond issued by Ecobank Nigeria, maturing in Feb-26. Following two credit downgrades by FITCH, from 'B-'to 'CCC+' in Feb-24, and subsequently to 'CCC-' in Jul-24, the Bank sold US$2.95m and reduced its investments to US$3mat the end of the year.”
• “In Q4 2024, the Bank exited its position in the sovereign Eurobond issued by the Arab Republic of Egypt... with a corresponding gain on the sale of the investment security recognised in the profit or loss account (US$0.86m).”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.