Nine Nigerian banks earned a combined total of about ₦14.72 trillion in interest income during the first three quarters of 2025, reflecting strong growth driven by a high-interest rate environment. According to The PUNCH, an analysis of their unaudited financial statements for the period ending September 30, 2025, filed with the Nigerian Exchange Limited, showed that the banks’ total interest income rose by 27.68 per cent from ₦11.53 trillion recorded in the same period of 2024.
The banks reviewed include Access Holdings Plc (Access Bank), First HoldCo (FirstBank), Zenith Bank Plc, United Bank for Africa (UBA), Guaranty Trust Holding Company (GTCO), Stanbic IBTC Holdings, Sterling Financial Holding Company, Wema Bank, and Ecobank Transnational Incorporated. Interest income refers to earnings made by financial institutions from lending activities such as loans, advances, and investment securities.
Access Holdings led the pack, posting an interest income of ₦2.90 trillion, a 21.11 per cent increase from ₦2.39 trillion in Q3 2024. Zenith Bank followed with ₦2.74 trillion, representing a 40.77 per cent rise from ₦1.95 trillion in the previous year. Ecobank Transnational Incorporated also reported a 20 per cent increase in its interest income to ₦2.33 trillion, while First HoldCo recorded ₦2.29 trillion, up from ₦1.63 trillion during the same period. These four institutions accounted for the bulk of the industry’s earnings, with Zenith Bank and First HoldCo showing the strongest growth momentum. Zenith recorded the largest increase in absolute terms, adding ₦793.84 billion, followed by First HoldCo with ₦659.37 billion.
Guaranty Trust Holding Company reported a 25.56 per cent growth in its interest income to ₦1.23 trillion, while UBA recorded ₦1.98 trillion, reflecting a modest 10.08 per cent increase from ₦1.79 trillion. Wema Bank achieved the most significant growth, with interest income rising by 72.65 per cent to ₦396.95 billion from ₦229.91 billion in Q3 2024. Stanbic IBTC Holdings also posted a strong year-on-year