United Capital says its microfinance bank has grown its capital base from N200 million at inception in 2024 to N5.6 billion, as it pursues a national banking licence and positions for deeper expansion across Nigeria.
The Group Chief Executive Officer of United Capital, Mr Peter Ashade disclosed this during the Group’s Investor Relations Roundtable with the theme “Decoding Performance: Insights into United Capital’s Growth Drivers and Outlook” on Wednesday in Lagos.
Ashade said the bank had applied for a national microfinance banking licence, expressing confidence that it would emerge as a major player in the sector.
“We have applied for a national licence and we are resolved that we will not be onlookers but game changers.
“We want to operate across Nigeria, and we are committed to investing in investor education to deepen financial inclusion and empower more Nigerians,” he said.
He also disclosed that the group’s assets under management had exceeded N2.3 trillion, reflecting its evolution into one of Africa’s leading integrated financial services institutions.
According to him, United Capital is positioning for its next phase of growth through strategic investments in research, technology, governance and Pan-African expansion, with future plans that include the acquisition of a commercial bank.
Ashade said the group had deliberately strengthened its leadership structure and institutional capacity to support its transition from a capital market operator to a diversified Pan-African financial services group.
He said the company recruited a chief economist to deepen its research capabilities and provide investors with credible insights into African economies.
“Research matters because investors want professionals to guide their investment decisions. Today, we do not write only about Nigeria; every week we produce research on Africa,” he said.
Ashade added that United Capital had also created the position of Director for Africa to drive its continental expansion strategy and identify business opportunities across the region.
He said the group’s African expansion was progressing steadily, with operations now spanning 12 countries.
According to him, the company remains disciplined in executing its growth strategy, with every investment guided by a clearly defined strategic framework.
He said United Capital was strengthening its technology, governance framework, workforce and operating model to support its long-term growth ambitions.
“What we see ahead is bigger than where we are today. We are equipping our people, technology, governance and structure because we cannot continue to run business as usual,” he said.
Ashade said the second half of 2026 would witness the launch of several new products and business initiatives designed to strengthen the group’s retail offerings and digital capabilities.
He urged investors to remain confident in the company’s prospects, expressing optimism about stronger earnings and sustained growth in the years ahead.
