Nigerian banks record over N3trn income in nine months

December 10, 2021
11 Views

Spread the love

Nigerian banks have posted a gross earning of N3.06 trillion in the first nine months of 2021, according to data collated from the third-quarter earnings of the banks from the Nigerian Exchange.

This is a N130 billion or 4.93% increase from the N2.93 trillion the banks made in the corresponding period of 2020

The banks reviewed included Zenith Bank Plc, Access Bank Plc, Guaranty Trust Bank Plc, Stanbic IBTC Bank, Sterling Bank Plc, Wema Bank Plc, United Bank for Africa Plc, Union Bank of Nigeria, First Bank and Fidelity Bank Plc.

Access had the highest gross earning (N693.1bn), and Wema had the lowest gross earning (N63.08bn).

Stanbic IBTC saw the greatest reduction in gross earnings, the bank’s earnings fell by N36.7 billion from N183.3 billion in 2020 to N146.6 billion in 2021.

READ ALSOMost banking frauds perpetrated by inside employees, says EFCC

Zenith earned N518.67 billion in gross earnings in nine months of 2021, an increase of N9.69 billion from N508.98 billion in the same period of 2020.

First Bank came in next with N427.03 billion gross earnings in 2021, but this was lesser to the N439.3 billion reported in the first nine months of 2020.

GTB’s gross earnings in 2021 were N318.51 billion, N11.45 billion less than the N329.96 billion it earned in 2020.

Stanbic IBTC’s gross earnings declined by N36.7 billion year on year, from N183.3 billion in 2020 to N146.6 billion in 2021. Sterling witnessed a N7.32bn increase in gross earnings as its gross earnings rose from N101.85bn in 2020 to N109.16bn in 2021.

Wema witnessed an N5.25bn increase. Its gross earnings rose from N57.83bn in 2020 to N63.08bn in 2021.

UBA had a gross earning of N490.3bn in 2021, an increase of N35.9bn from the N454.4bn it had in 2020. Union bank had a gross earning of N121.8bn in 2021, an increase of N3bn from the N118.8bn it had in 2020.

While Fidelity had a gross earning of N174.35bn in 2021, an increase of N19.32bn from the N155.03bn it had in 2020.

You may be interested

JusticeForHanifa: President Buhari Reacts To Murder Of 5-Year-Old Hanifa Abubakar
News
7 views
News
7 views

JusticeForHanifa: President Buhari Reacts To Murder Of 5-Year-Old Hanifa Abubakar

Webby - January 22, 2022

President Muhammadu Buhari has reacted to the death of a five-year-old pupil, Hanifa Abubakar, who was allegedly abducted and killed…

“I’ll Never Forget Those Who Killed My Daughter” – Hanifa Abubakar’s Father [Video]
News
News

“I’ll Never Forget Those Who Killed My Daughter” – Hanifa Abubakar’s Father [Video]

Webby - January 22, 2022

Abubakar Abdulsalam, father of a five-year-old pupil, Hanifa Abubakar, who was allegedly killed by her school teacher in Kano, said…

I Killed Five-Year-Old Pupil, Hanifa Abubakar With N100 Rat Poison – Kano Teacher
News
2 views
News
2 views

I Killed Five-Year-Old Pupil, Hanifa Abubakar With N100 Rat Poison – Kano Teacher

Webby - January 22, 2022

30-year-old teacher, Abdulmalik Tanko, who was arrested over his alleged involvement in the kidnap and death of a five-year-old pupil, Hanifa Abubakar,…

Leave a Comment

Your email address will not be published.