Nine major Nigerian banks earned about N14.72 trillion in interest income during the first nine months of 2025, a 27.7% increase from N11.53 trillion recorded in the same period last year, according to filings on the Nigerian Exchange.
The analysis covered Access Holdings, Zenith Bank, First HoldCo, UBA, GTCO, Stanbic IBTC, Sterling HoldCo, Wema Bank, and Ecobank Transnational.
Access Holdings led with N2.9tn, followed by Zenith Bank (N2.74tn), Ecobank (N2.33tn), and First HoldCo (N2.29tn). Zenith and First HoldCo posted the strongest growth, rising over 40% year-on-year.
GTCO grew 25.6% to N1.23tn, UBA rose 10% to N1.98tn, and Wema Bank recorded the fastest jump at 72.7%, reaching N396.9bn. Stanbic IBTC and Sterling HoldCo also posted solid gains of 37.2% and 38.7%, respectively.
Analysts attribute the surge to Nigeria’s prolonged high-interest environment, as banks benefited from higher lending and investment returns. However, the Central Bank of Nigeria (CBN)’s rate cut in September 2025—lowering the Monetary Policy Rate to 27%—may temper future earnings.
Global ratings agency Moody’s warned that the rate reduction could narrow banks’ profit margins unless loan volumes rise significantly, as deposit costs tend to adjust more slowly than lending rates.
