Nine of the country’s largest banking institutions collectively earned N4.115 trillion in profit after tax during the first three quarters of 2025, according to a review of their latest financial reports. This marks a slight 1.5 percent decrease compared to the N4.176 trillion achieved in the corresponding period of 2024.
The institutions included in the analysis are Access Holdings, Ecobank Transnational, GT Holdings, FBN Holdings, Sterling Holdings, Stanbic IBTC Holdings, UBA, Wema Bank, and Zenith Bank. Their statements cover the period ending September 30, 2025.
Performance varied significantly across the group. Five banks demonstrated robust growth, boosting their combined profits by 37 percent to N1.753 trillion from N1.28 trillion a year earlier. Leading the pack was Wema Bank, which saw its earnings surge 299 percent to N172.4 billion from N43.2 billion. Sterling Holdings followed with a 130 percent jump to N62.3 billion, up from N27.4 billion.
Stanbic IBTC Holdings increased its profit by 52 percent to N278.5 billion from N182.9 billion, while Ecobank Transnational reported a 43 percent rise to N702.4 billion from N492 billion. UBA experienced a more moderate gain of 2.5 percent, reaching N537.5 billion from N525.3 billion.
In contrast, the other four banks faced setbacks, with their aggregate profits falling 18.4 percent to N2.362 trillion from N2.897 trillion. GT Holdings suffered the sharpest drop of 35 percent, ending at N699.6 billion compared to N1.085 trillion previously. FBN Holdings declined 18.4 percent to N450.9 billion from N533.9 billion.
Zenith Bank reported a 7.6 percent reduction to N764.2 billion from N827.3 billion, and Access Holdings saw a milder 2.2 percent dip to N448 billion from N458 billion.
The mixed results highlight differing strategies and market conditions affecting Nigeria’s banking sector amid ongoing economic challenges.
