Four of the five FUGAZ banks operating licensed banking subsidiaries in the United Kingdom—Access, GTCO, Zenith, and UBA—collectively posted approximately N399.2 billion in combined pre-tax profit from their UK operations for the year ended 31 December 2025. This data is derived from the full-year 2025 audited financial statements of Nigeria’s tier-one banks, known as FUGAZ, as filed with the Nigerian Exchange (NGX) Limited.

The extracts from subsidiary condensed results, presented within the parent group annual reports, indicate a net improvement compared to 2024, suggesting the growing strategic importance of the UK corridor for Nigeria’s largest banks.

The standout performer was The Access Bank UK Limited, which posted a pre-tax profit of N288.6 billion. This figure is the highest among FUGAZ UK subsidiaries and accounts for more than 72% of the entire FUGAZ group’s combined UK pre-tax profit.

Access UK's performance showed an increase of approximately 11.4% from N259.1 billion in 2024, solidifying the UK entity as one of Access Holdings’ most productive international assets.

Zenith Bank (UK) Limited also demonstrated growth, with its pre-tax profit rising by 17.6% to N98.9 billion from N84.1 billion in the previous year. This reinforces its position as the second-largest earner among FUGAZ banks in the UK market.

In contrast, Guaranty Trust Bank (UK) Limited experienced a contraction in its pre-tax profit by about 18.3%, falling from N21.9 billion in 2024 to N17.9 billion in 2025. UBA UK Limited swung to a pre-tax loss of N6.2 billion, a significant shift from a profit of N19.3 billion recorded in the prior year.

An analysis of the individual pre-tax and post-tax profit performances of the four FUGAZ banks with disclosed UK subsidiary results in 2025 reveals a widening divergence within a segment that was broadly profitable just a year ago.