Full Breakdown: 5 Major Nigerian Banks Declare N502.0 Billion Profit, Rise in Customers Deposits
- Nigerian banks have started releasing their fourth-quarter earnings, five banks were the first to publish
- FCMB Group Plc one of the banks announced that it recorded over N200 billion profit in 2025
- Other banks include Jaiz Bank and First HoldCo Plc,Sterling Financial Holdings and Wema Bank
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
FCMB Group Plc, Sterling Financial Holdings, Jaiz Bank Plc, Wema Bank Plc, and First HoldCo Plc have released their full-year financial results for 2025.
The banks collectively reported a profit after tax of N500.50 billion and also rising customer deposits signalling trust from the public.
Source: Getty Images
Data obtained from the Nigerian exchange and analysed by Legit.ng showed that among the banks surveyed only First HoldCo Plc reported a decline in profit from the previous year.
Breakdown of Banks profit in 2025
FCMB Group Plc led the sector with a pre-tax profit of N200.91 billion, up 80% from N111.9 billion in 2024. Profit after tax surged 141.7% to N176.91 billion, while gross earnings grew 41.8% to N1.13 trillion, driven primarily by a 61.2% rise in interest income to N1.00 trillion.
This income, largely derived from loans and advances, accounted for nearly 89% of total revenue.
Net interest income jumped 122% to N502.89 billion, reflecting the bank’s effective cost management despite a 26% increase in interest expenses to N499.23 billion. Customer deposits increased 2.5% to N4.40 trillion, reinforcing public confidence in the bank. FCMB’s equity rose 19.5% to N823.42 billion, further strengthening its capital base.
Sterling Financial Holdings
Sterling Financial Holdings, the parent company of Sterling Bank and The Alternative Bank, reported a 99% year-on-year increase in pre-tax profit to N90.7 billion, supported by operational efficiency and a reduced cost-to-income ratio of 63% from 72% in 2024.
Gross earnings surged 46% to N476.5 billion, driven by strong growth in both interest income, which rose 43% to N369.6 billion, and non-interest income, including fees and trading revenue.
Total assets expanded 11% to nearly N4 trillion, while customer deposits rose 18% to N2.98 trillion, reflecting improved customer engagement and product adoption across its platforms.
Sterling HoldCo’s shareholders’ funds increased 39% to N424 billion, positioning it well for future growth.
Jaiz Bank Plc
Jaiz Bank Plc saw pre-tax profit rise 28.4% to N31.3 billion, supported by higher income from financing and investing activities. Income from financing contracts increased 43.3% to N45.9 billion, dominated by murabaha and ijara transactions, while income from investing activities grew 17.2% to N52 billion.
Total assets expanded to N1.2 trillion, and customer deposits stood at N724 billion.
Source: Getty Images
Wema Bank Plc
Wema Bank Plc recorded pre-tax profit of N222.07 billion, up 116.3%, and profit after tax of N193.19 billion, up 123.5%. Gross earnings increased 51% to N653.28 billion, primarily driven by interest income of N577.10 billion.
Loans and advances rose 45% to N1.75 trillion, while customer deposits grew 30% to N3.28 trillion, highlighting strong customer confidence.
Net interest income more than doubled to N360.10 billion, reflecting a successful lending strategy and effective management of funding costs.
First HoldCo Plc
First HoldCo Plc focused on balance sheet strength and strategic capital management, reporting total assets of N27.1 trillion, up from N26.5 trillion in 2024.
Gross earnings rose 4.8% to N3.4 trillion, supported by a 36.3% increase in net interest income. Pre-tax profit fell to N229.1 billion, while profit after tax declined to N45.0 billion, largely due to higher impairment charges and regulatory costs.
Customer deposits increased 10%, demonstrating ongoing confidence in the bank’s operations.
Wema bank now valued at over N1 trillion
Earlier, Legit.ng reported that Wema Bank Plc has joined Nigeria’s exclusive N1 trillion market capitalisation club, marking a major milestone for one of the country’s oldest tier-2 lenders.
The achievement places Wema Bank alongside Ecobank, Fidelity Bank, and Stanbic IBTC, which had earlier crossed the threshold, and signals growing investor appetite for mid-tier banking stocks on the Nigerian Exchange (NGX).
The lender began the year at N20.40 and has since gained 22.3%, ranking 47th on the NGX in terms of year-to-date performance.
Source: Legit.ng
