Top Nigerian Banks Post N4.1 Trillion Profit in Nine Months Despite Mixed Earnings — Five Lenders Lead with 37% Growth
Nigeria’s banking industry has once again showcased its resilience, as nine leading financial institutions collectively posted N4.115 trillion in profit after tax (PAT) during the first nine months of 2025. Although this figure marks a slight 1.5% decline year-on-year compared to the N4.176 trillion recorded in the same period of 2024, analysts say the results highlight a strong performance amid macroeconomic pressures and tighter monetary conditions.
The report, based on financial statements reviewed by Vanguard, includes major lenders such as Access Holdings, Ecobank Transnational, GT Holdings, FBN Holdings, Sterling Holdings, Stanbic IBTC Holdings, UBA, Wema Bank, and Zenith Bank. Out of the nine, five banks recorded significant profit growth, while four experienced declines — reflecting a split performance in the sector as institutions adapt to changing market realities.
The five banks that recorded growth — Wema Bank, Sterling Holdings, Ecobank, Stanbic IBTC, and UBA — collectively grew their profit after tax by 37% year-on-year, reaching N1.753 trillion in the nine-month period. Wema Bank emerged as the biggest gainer, posting an impressive 299% surge to N172.4 billion from N43.2 billion last year. Sterling Holdings followed with a 130% rise to N62.3 billion, while Stanbic IBTC and Ecobank recorded 52% and 43% increases respectively. UBA also maintained steady growth at 2.5%, reaching N537.5 billion.
Meanwhile, the remaining four — Access Holdings, GT Holdings, FBN Holdings, and Zenith Bank — experienced a combined 18.4% drop in profit, totaling N2.362 trillion compared to N2.897 trillion in 2024. GT Holdings reported the steepest decline, falling 35% to N699.6 billion. FBN Holdings and Zenith Bank also saw notable drops of 18.4% and 7.6% respectively, while Access Holdings recorded a modest 2.2% dip to N448 billion.
Financial analysts attribute the mixed results to shifting economic conditions, currency fluctuations, and increased regulatory costs. However, the sector’s overall profitability — surpassing N4 trillion — underscores its continued dominance in driving Nigeria’s economy. With digital transformation, diversification, and stronger risk management strategies, experts anticipate improved performance as banks adjust to the evolving financial landscape heading into 2026.
source: vanguard