Nigerian Banks Report ₦338.4 Billion Profit in H1 2026

In the first half of 2026, five Nigerian banks (FCMB Group, Wema Bank, Sterling Financial Holdings, Jaiz Bank, and Infinity Trust Mortgage Bank) reported a combined profit after tax of ₦338.4 billion, reflecting strong earnings across the sector. Their total assets reached approximately ₦20.47 trillion.

FCMB Group led with assets of about ₦8.36 trillion, followed by Wema Bank with ₦5.76 trillion and Sterling Financial Holdings with ₦4.67 trillion. FCMB's gross earnings increased by 27.8% to ₦676.2 billion, with profit after tax surging 90.5% to ₦139.9 billion.

Wema Bank reported a profit after tax of ₦131.37 billion, growing 50.1%, while Sterling Financial Holdings recorded ₦50.30 billion, up 20.4%. Jaiz Bank's assets grew by 27% to ₦1.64 trillion, with a profit after tax of ₦15.1 billion.

Economist Dr. Aliyu Ilias noted that banks are benefiting from economic activities, particularly in stock and foreign exchange markets.