Nigerian Banks' Fee Income Surges 23% to N986.5bn Despite Fintech Competition
Nigerian banks, including Zenith Bank, UBA, GTBank, Stanbic IBTC, FCMB, and Wema Bank, experienced a 23% surge in fee income to N986.5bn in H1 2025, driven by non-interest income streams. The growth was attributed to higher fees from credit-related services, account maintenance, foreign currency transactions, and electronic product commissions.
Fintech firms like Opay, Moniepoint, Palmpay, and Kuda are gaining traction with zero-charge services, prompting traditional banks to innovate for customer loyalty. The sector remains resilient amidst the fintech competition, with banks strategically rebalancing income streams towards scalable fee-based services.
Plus234Feed summary based on reporting from This Day. Read the original report below.
Read full article
Continue on This Day
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Nigerian Banks' Revenue Grows, Profits Under Pressure in H1 2025
Nigerian Banks Generate N10.77trn Despite Economic Challenges
Nigerian Banks Report N14.7tn Interest Income in 9 Months, Access, Zenith, FirstBank Lead Growth
Nigerian Big Banks Face Profit Squeeze Amid Rate Cuts
Fidelity Bank's Gross Earnings Surge 46% in H1 2025 on Strong Interest Income
Fidelity Bank Grows Gross Earnings by 46% in H1 2025, Demonstrates Strong Financial Performance
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
