9 Nigerian banks collectively earned N4.85tn in curiosity revenue on loans and advances to clients within the first 9 months of 2024, marking a progress of 114.95 per cent in comparison with N2.26tn recorded in the identical interval of 2023.
Entry Holdings led the trade with N1.13tn in curiosity revenue as of September 2024, up from N458.41bn within the corresponding interval of 2023. The 146.4 per cent surge displays the financial institution’s lending technique and enlargement of its mortgage portfolio.
Zenith Financial institution adopted carefully, reporting an curiosity revenue of N1.07tn, greater than doubling its N408.66bn determine from the earlier 12 months, representing a rise of 161.8 per cent.
FBN Holdings earned N915.35bn in curiosity revenue year-to-date in 2024, a 128.1 per cent enhance from N401.33bn recorded in the identical interval of 2023.
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Constancy Financial institution recorded an curiosity revenue of N450.00bn, up from N260.51bn in 2023. The 72.7 per cent progress displays the financial institution’s efforts to deepen its presence within the company and retail lending markets.
Warranty Belief Holding Firm reported an curiosity revenue of N392.33bn, an 84.8 per cent rise from N212.30bn within the prior 12 months.
FCMB Group generated N317.53bn in curiosity revenue, up from N183.55bn in 2023. This 73 per cent enhance is attributed to its focused method to scaling its credit score portfolio to fulfill buyer wants.
Stanbic IBTC Holdings recorded N283.95bn in curiosity revenue as of September 2024, representing a progress of 81.7 per cent from N156.24bn in the identical interval of the earlier 12 months.
Wema Financial institution posted an curiosity revenue of N149.28bn, a rise of 76.8 per cent from N84.42bn in 2023.
Sterling Financial institution recorded N139.86bn in curiosity revenue, up from N90.45bn in the identical interval of 2023. This 54.6 per cent progress displays the financial institution’s targeted efforts to develop its credit score portfolio regardless of financial challenges.
