Sixteen years after leaving the bank he helped grow into one of Nigeria’s biggest financial institutions, Tony Elumelu has left United Bank for Africa Plc (UBA), again. But this time, he is leaving a bank whose assets have grown by 1,106.18% over the past decade, whose customer deposits have grown by 1,051.44%, and whose annual profit has grown by 578.33%.
On August 21, Elumelu’s 12-year stint as group chairman of UBA, a tier-one Nigerian bank valued at ₦1.97 trillion ($1.46 billion), ended. In that time, UBA expanded its footprint across Africa and made technology an increasingly important part of its business, even as loans grew far more slowly than deposits and its workforce shrank.
These 10 charts show what changed at UBA between 2015 and 2025, the first and last full financial years of Elumelu’s leadership.