Nigerian Banks Report N1.6tn Profit in Q1 2026

In the first quarter of 2026, seven major Nigerian banks, including Access Bank, GTBank, UBA, and others, reported a combined profit before tax of N1.6 trillion, marking a 6.77% increase from N1.5 trillion in the same period in 2025. Zenith Bank retained its position as the country's leading profit lender with N360.92 billion, up from N350.82 billion in Q1 2025.

Guarantee Trust Holding Company followed with N302.89 billion, while Access Bank reported a 22.2% rise in profit to N272.21 billion. Ecobank Transnational Incorporated and Stanbic IBTC Holdings also posted profits of N270.24 billion and N165.4 billion, respectively.

Wema Bank achieved a 41.2% increase in profit to N72.6 billion. Despite challenges such as inflation, exchange rate volatility, and cybersecurity concerns, the banks demonstrated resilience, benefiting from strong interest income and improved non-fund income streams.