Heirs Holdings Restricted, the funding firm chaired by billionaire Tony Elumelu, has elevated its stake in United Bank for Africa Plc (UBA) with the acquisition of 45,034,044 shares valued at roughly N1.54 billion.
The transaction was disclosed in a submitting on the Nigerian Change, signed by UBA’s Firm Secretary and Authorized Counsel, Bili A. Odum.
Particulars of the disclosure reveal that Heirs Holdings Restricted acquired the unusual shares at a value of N34.30 between Could 22 and 23, 2025, below the identification code NGUBA000001.
Earlier than this acquisition, Heirs Holdings already stood out as the one shareholder with greater than a 5% stake in UBA, holding 5.30% of the bank’s share capital, equal to 1,814,003,900 shares.
- With the newest buy, the corporate now owns 1,859,037,944 shares, elevating its whole stake to five.43%.
After the transaction, UBA’s buying and selling quantity surged, with 60.7 million shares exchanging fingers on Could 22 and 45.1 million on Could 23.
Coupled with a powerful Q1 2025 efficiency, the current share buy might additional increase investor confidence in UBA, particularly because the bank’s inventory gained over 3%, closing at N34.45 on Could 23.
Q1 efficiency of UBA
United Bank for Africa Plc reported a pre-tax revenue of N204.2 billion in Q1 2025, a 30.65% improve from Q1 2024, pushed by increased curiosity revenue.
Curiosity revenue rose by 36.09% to N599.8 billion, largely pushed by revenue from loans and advances in addition to funding securities.
- Earnings from loans and advances to clients stood at N260.56 billion, up 31% year-over-year.
- Earnings from funding securities elevated by 44.96% to N291.8 billion, whereas revenue from money balances was N47.42 billion.
UBA additionally generated revenue from non-interest sources, primarily charges and commissions.
- Digital banking revenue was N47.84 billion, a 7.86% improve.
- Commissions on transactional actions totaled N29.66 billion, and upkeep charges contributed N10.39 billion.
On the stability sheet, customer deposits reached N22.8 trillion in Q1 2025, up 4.43%, whereas whole belongings stood at N31.7 trillion, a rise of 4.58%.
Heirs Holdings
Heirs Holdings Restricted is a family-owned funding firm based by Nigerian entrepreneur Tony Elumelu.
The corporate focuses on sectors that supply sturdy long-term returns inside Africa’s financial system, managing an funding portfolio valued at N15 trillion ($9.8 billion) as of March 2025.
Its investments cowl a broad vary of industries, together with know-how, healthcare, actual property and hospitality, power, energy, and monetary companies.
- The current share buy marks certainly one of Heirs Holdings’ newest strikes within the monetary companies sector, making it the one shareholder in UBA to carry greater than 5% of the corporate, with a 5.43% stake.
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