Nigerian Banks Earn N209bn in Q1 2026 from Fees

In the first quarter of 2026, Nigerian banks collectively generated N209.18 billion from account maintenance fees, representing a 14.07% increase from N183.37 billion in the same period in 2025. The analysis, based on unaudited financial statements from 11 banks listed on the Nigerian Exchange, revealed that total fee and commission income rose to N984.47 billion from N866.30 billion, indicating a year-on-year increase of 13.64%.

Zenith Bank (NGX: ZENITHBANK) earned the highest account maintenance income at N25.07 billion, followed by Ecobank with N18.06 billion and Access Bank (NGX: ACCESSCORP) at N16.68 billion. GTCO (NGX: GTCO) recorded the fastest growth in account maintenance income at 42.15%, while Fidelity Bank (NGX: FIDELITYBK) saw a decline of 2.52%.

Other notable performances included UBA (NGX: UBA) with a 27.65% rise to N13.26 billion and Stanbic IBTC (NGX: STANBIC) with a 30.37% increase in fee commission revenue. The report underscores the banks' ability to recover operational costs through these fees as mandated by the Central Bank of Nigeria.