Nigerian banks collectively earned N4.85 trillion in interest income on loans and advances to customers in the first nine months of 2024.
This marks a growth of 114.95 percent compared to N2.26 trillion recorded in the same period of 2023.
Here’s a breakdown of the interest income for the top banks:
| Bank | Interest Income (2024) | Interest Income (2023) | Growth (%) |
|---|---|---|---|
| Access Holdings | N1.13 trillion | N458.41 billion | 146.4% |
| Zenith Bank | N1.07 trillion | N408.66 billion | 161.8% |
| FBN Holdings | N915.35 billion | N401.33 billion | 128.1% |
| Fidelity Bank | N450.00 billion | N260.51 billion | 72.7% |
| Guarantee Trust Holding Co. | N392.33 billion | N212.30 billion | 84.8% |
| FCMB Group | N317.53 billion | N183.55 billion | 73% |
| Stanbic IBTC Holdings | N283.95 billion | N156.24 billion | 81.7% |
| Wema Bank | N149.28 billion | N84.42 billion | 76.8% |
| Sterling Bank | N139.86 billion | N90.45 billion | 54.6% |
Access Holdings led the industry with N1.13 trillion in interest income, followed by Zenith Bank with N1.07 trillion. The significant growth in interest income reflects the banks’ lending strategies and expansion of their loan portfolios.
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