Nigerian Banks Earn N522 Billion from Digital Services

In the nine months ending September 2026, eight Nigerian Exchange-listed banking groups generated a total of N521.79 billion from electronic banking and card-related fees, reflecting an 8.1% increase from N482.48 billion in the same period of 2025. An analysis by Nairametrics Research revealed that five banks experienced growth in these fee categories, while three saw declines.

Access Holdings was the largest contributor, earning N172.92 billion, which accounted for 33.1% of the total revenue. Ecobank followed with N115.93 billion.

Excluding Ecobank, the remaining seven banks generated N405.86 billion, a 13.6% increase from N357.37 billion. GTCO achieved the highest percentage growth, with a 40.6% rise in e-business income to N60.81 billion.

The overall increase in electronic banking fees indicates banks' efforts to diversify income sources beyond traditional lending, despite varying growth rates among the institutions.