UBA Fortifies Security, Halves Fraud Losses as Profits Surge
United Bank for Africa (UBA), a prominent player in the African banking sector, has demonstrated a strong performance in the first half of 2025. The pan-African banking group, with a market capitalization of ₦1.93 trillion ($1.29 billion) and a wide footprint spanning 20 African countries, significantly curbed its fraud losses while simultaneously boosting profitability. The bank’s latest financial report highlights a remarkable achievement in its ongoing efforts to secure customer transactions and combat fraudulent activities.
Deterring Digital Deception: UBA’s Fraud Prevention Strategy
UBA successfully reduced its fraud losses by a substantial 45.35% during the first six months of 2025, bringing the total down to ₦288 million ($192,130). This represents a notable improvement compared to the ₦527.01 million ($351,579) loss reported in the same period of the previous year. While fraud attempts totalled ₦2.40 billion ($1.60 million), only 12% resulted in actual losses. The bank noted that electronic channels and unauthorized transfers were primary vectors for these fraudulent activities. Despite a slightly higher amount of attempted fraud in H1 2024 (₦2.39 billion), the percentage resulting in losses was significantly greater (22%). Electronic fraud specifically, which cost the bank ₦229.10 million ($152,837) in the first half of 2024, dropped to ₦99 million ($66,044) in the corresponding period of 2025. Fraudulent transfers, although involving only seven incidents during the period, still resulted in a cost of ₦148 million ($98,733) marking a 47.43% decrease from H1 2024. Simultaneously, UBA’s profit after tax saw a positive movement, increasing by 6.06% to ₦335.53 billion ($223.84 million), highlighting the bank’s strong financial performance alongside its security initiatives.
In conclusion, UBA’s success in reducing fraud losses demonstrates its commitment to robust security measures and advanced technologies, while simultaneously achieving significant profit growth. This performance bodes well for its stakeholders and underscores the importance of proactive fraud prevention strategies within the African banking landscape.
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