Five lenders post N2.29tn profit in six months – Daily Trust

Five monetary establishments recorded a mixed profit earlier than tax (PBT) of roughly N2.29 trillion in the primary half of 2026, with the lenders posting various ranges of profitability development, supported by stronger curiosity earnings, buying and selling features, improved asset high quality and increasing non-interest income.

The 5 establishments surveyed by Daily Trust are FirstHoldCo Plc, Zenith Bank Plc, Guaranty Trust Holding Company Plc (GTCO), Stanbic IBTC Holdings Plc and Sterling Financial Holdings Company Limited—reported a mixed profit earlier than tax of N2.291 trillion for the six months ended June 30, 2026.

Daily Trust reviews that among the tier one lenders together with the United Bank for Africa PLC and Fidelity Bank not too long ago bought regulatory nod to increase the discharge of half yr outcomes.

FirstHoldCo led the group with N653.5 billion, adopted by Zenith Bank with N637.6 billion, GTCO with N603.03 billion, Stanbic IBTC with N341.57 billion and Sterling Financial with N55.5 billion.

FirstHoldCo emerged as essentially the most worthwhile of the 5 establishments reviewed, reporting an 83.5 per cent year-on-year improve in profit earlier than tax to N653.5 billion.

The Group additionally recorded gross earnings of N1.93 trillion, representing a 16.7 per cent improve from the corresponding interval of 2025, whereas working earnings rose by 25.8 per cent to N1.38 trillion.

Non-interest earnings elevated to N497.1 billion, supported by digital banking, commerce providers, brokerage, funds switch and different actions. The Group additionally reported a internet curiosity margin of 9.5 per cent.

Operational effectivity improved, with the cost-to-income ratio declining to 44.2 per cent from 50.5 per cent a yr earlier. Impairment prices fell by 37.4 per cent, whereas recoveries from legacy exposures amounted to roughly N91.9 billion.

The Group additionally reported the restoration of FirstBank’s capital adequacy ratio to 16.7 per cent, forward of its deliberate timeline, strengthening its capability to help future lending and enterprise growth.

Zenith Bank

Zenith Bank recorded the second-highest profit earlier than tax rising by 1.91 per cent to N637.6 billion from N625.63 billion in the earlier yr.

The financial institution’s efficiency was supported by decrease funding prices, improved internet curiosity margins, stronger transaction-related earnings and a considerable discount in impairment prices.

Interest expense declined by 13 per cent to N421.8 billion, serving to internet curiosity margin enhance to 12.4 per cent from 11.9 per cent. Net curiosity earnings stood at N1.25 trillion.

Net payment and fee earnings elevated by 39.6 per cent to N178.77 billion, whereas different working earnings rose by 314 per cent. Meanwhile, impairment prices declined by 81 per cent to N141.1 billion, bringing the price of threat all the way down to 2.2 per cent from 14.3 per cent.

The financial institution’s gross loans elevated by 14 per cent to N12.57 trillion from N11.06 trillion on the finish of December 2025. Customer deposits rose by eight per cent to N26.35 trillion, whereas whole property expanded by 4 per cent to N32.65 trillion.

GTCO

GTCO posted a profit earlier than tax of N603.03 billion, representing a modest 0.4 per cent improve from the corresponding interval of 2025.

The holding firm’s earnings have been supported by development in curiosity and buying and selling earnings, which elevated by 7.5 per cent and 24.7 per cent year-on-year, respectively.

However, a N46.2 billion fair-value loss moderated the expansion in reported profitability, highlighting the impact of market-related valuation actions on the Group’s earnings.

GTCO’s whole property closed at N18.6 trillion, whereas shareholders’ funds stood at N3.3 trillion. Customer deposits elevated by 10.3 per cent to N14.19 trillion from N12.87 trillion on the finish of December 2025.

Its internet mortgage guide grew marginally by 0.5 per cent to N3.15 trillion from N3.13 trillion.

The Group additionally reported a capital adequacy ratio of 34.9 per cent, whereas its value of threat improved to 0.6 per cent from 2.2 per cent. Its cost-to-income ratio stood at 31.5 per cent, reflecting continued operational effectivity.

GTCO’s efficiency additionally underscored the contribution of its non-banking companies, together with funds, pensions and funds administration, to its broader diversification technique.

Stanbic IBTC

Stanbic IBTC Holdings recorded a 40.13 per cent improve in profit earlier than tax to N341.57 billion from N243.74 billion in the primary half of 2025.

Gross earnings elevated by 27.15 per cent to N650.31 billion, whereas profit after tax rose by 38.2 per cent to N239.68 billion.

The Group’s efficiency was pushed largely by non-interest income, which greater than doubled to N278.02 billion from N123.08 billion. Trading income contributed considerably, rising to N126.36 billion from a lack of N856 million in the corresponding interval.

Net payment and fee income elevated by 27.08 per cent to N145.26 billion, whereas impairment losses declined by 33.75 per cent to N7.36 billion.

However, the establishment confronted strain on its conventional curiosity earnings. Interest earnings fell by 5.4 per cent to N359.10 billion, whereas curiosity expense elevated by 34.98 per cent to N92.83 billion. Consequently, internet curiosity earnings declined by 14.34 per cent to N266.28 billion.

Total property expanded by 26.59 per cent to N10.91 trillion, whereas buyer deposits rose to N4.63 trillion.

The board proposed an interim dividend of N4.50 per share, representing an 80 per cent improve from N2.50 in the primary half of 2025.

Sterling

Sterling Financial recorded the bottom absolute profit earlier than tax among the many 5 establishments, however nonetheless delivered development in its key monetary indicators.

The Group’s profit earlier than tax elevated by 21.9 per cent to N55.5 billion, whereas profit after tax rose by 20.4 per cent to N50.3 billion.

Gross earnings superior by 31.5 per cent to N279.6 billion, supported by a 33.7 per cent improve in curiosity earnings to N223.6 billion.

Net curiosity earnings climbed by 41 per cent to N137.4 billion, whereas non-interest earnings elevated by 23.3 per cent to N56 billion.

The holding firm’s whole property grew by 19.3 per cent to N4.67 trillion, whereas buyer deposits expanded by 21.1 per cent to N3.62 trillion.

Shareholders’ funds elevated by 27.8 per cent to N547.7 billion, partly reflecting N96.6 billion raised by means of a public supply of 13.8 billion atypical shares.

Return on common fairness stood at 20.6 per cent, whereas return on common property improved to 2.35 per cent from 2.05 per cent.

Daily Trust reviews that the Central Bank of Nigeria (CBN) has inspired deposit cash banks (DMBs) to extend lending to the true sector amidst surge in earnings.

“Stronger capital buffers should enable banks to finance long-term infrastructure, support industrial expansion, facilitate international trade and compete more effectively in regional and global markets. They also provide greater capacity to absorb losses during economic stress and sustain investment in innovation and digital transformation,” a deputy governor of the apex financial institution, Dr. Muhammad Sani Abdullahi had mentioned at an occasion not too long ago.