Nigeria’s tier-one lenders, Zenith Bank Plc and Guaranty Trust Holding Company Plc, recorded a combined N283.7 billion in income from account maintenance and electronic banking charges in 2025.
This is according to the audited financial statements for the year ended December 31, 2025, which the Tier 1 lenders filed with the Nigerian Exchange (NGX).
The earnings highlight how banks are increasingly monetising digital channels amid rising transaction volumes, driven by mobile banking, USSD services, card payments, and online transfers.
As customer behaviour shifts away from physical banking halls, fee-based income has become a critical buffer against interest rate volatility.
What the data is saying
Account maintenance charges—primarily applied to current accounts—alongside e-business income such as ATM withdrawals and transfer fees, continue to provide steady, recurring revenue, reinforcing the banks’ profitability in a high-inflation, technology-driven operating environment.
- A breakdown of the figures shows that Zenith Bank generated N91.95 billion from account maintenance fees in 2025, representing a 26.1% increase from N72.93 billion recorded in 2024.
- Its electronic banking income also rose to N89.13 billion, up 11.3% year-on-year, reflecting sustained growth in digital transaction volumes.
- Similarly, GTCO recorded N37.92 billion in account maintenance income, a 16.1% increase from N32.66 billion in the previous year.
- Its electronic banking revenue climbed to N64.72 billion, marking a 14.4% rise compared to N56.56 billion in 2024.
Combined, both banks earned N129.87 billion from account maintenance and N153.85 billion from e-business transactions, bringing total fee-based income from these segments to N283.7 billion—an indication of how digital banking has evolved into a major revenue driver.
More insights
The strong growth in fee income reflects deeper financial inclusion and increased reliance on digital banking platforms across Nigeria, as customers adopt faster and more convenient payment channels.
- Banks have continued to invest heavily in fintech infrastructure, improving service delivery while expanding revenue opportunities.
- For Zenith Bank, the growth aligns with its broader earnings strategy anchored on interest income expansion and efficient balance sheet management.
- The bank recorded significant gains from loans and advances as well as treasury instruments, reinforcing its position as one of Nigeria’s most profitable lenders.
- At GTCO, the rise in e-business income complements its ecosystem-driven model, which integrates banking with payments and digital services.
The group’s management has emphasized earnings sustainability, with improved asset quality, stronger capital buffers, and disciplined execution supporting long-term growth.
What you should know
Despite being affected by CBN’s forbearance directive in the first half of 2025, both the tier-one lenders reported impressive financial results and went ahead to pay surprising amounts of dividends to their shareholders.
- Zenith Bank reported a profit before tax of N1.26 trillion in 2025, slightly down by 4.78% from N1.3 trillion in 2024 due to the forbearance.
- Its interest income jumped to N3.6 trillion.
- The bank proposed a total dividend of N10.00 per share, reflecting continued shareholder returns.
- GTCO posted a profit before tax of N1.23 trillion, while profit after tax settled at N865.75 billion.
- The group maintained strong fundamentals, with total assets of N17.8 trillion and shareholders’ funds of N3.4 trillion, alongside a robust capital adequacy ratio of 43.8%.
Both banks’ 2025 performances reinforce their dominance in Nigeria’s banking sector, with diversified income streams—spanning interest earnings and digital fees—positioning them to navigate regulatory changes and macroeconomic pressures effectively.
