Six major Nigerian banks have collectively reported a profit after tax of over N2.4 trillion for the nine months ending 30 September, representing a 20 % increase from the same period in 2024. This rise in profitability is attributed to higher gross earnings, with profit before tax reaching N2.895 trillion—a 2 % increase from the previous year.
The banks—First HoldCo Plc, Access Holdings Plc, Zenith Bank Plc, United Bank for Africa, Sterling Financial Holdings, and Wema Bank Plc—have also seen significant growth in customers’ deposits. Access Holdings Plc’s deposits rose from N22.5 trillion in December 2024 to N33.1 trillion in the nine months to 30 September 2025. Zenith Bank Plc’s deposits increased to N23.69 trillion, while UBA Plc recorded N23.799 trillion in customer deposits.
Financial experts have weighed in on the development, urging banks to ensure that the increased profit translates into improved service delivery and higher dividend payments to shareholders. Prof. Uche Uwaleke, Director of the Institute of Capital Market Studies, emphasized that earnings must be sustainable and not driven by short‑term factors, calling for clearer communication and better customer service. Chief Okechukwu Unegbu, a former President of the Chartered Institute of Bankers of Nigeria, linked the deposit growth to a renewed saving culture among citizens and reiterated that profits should be reflected in higher dividends.
A Zenith Bank customer, Augustina Ode, appealed to banks to prioritize their service departments to ensure better service delivery and customer satisfaction. While the significant increase in profitability and deposits is a positive development for the Nigerian banking sector, experts caution that banks must ensure this growth benefits both shareholders and customers. As the sector evolves, prioritizing sustainable growth, improved service delivery, and transparency will be essential to maintain customer trust and confidence.
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