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In this piece, we will take a look at the most profitable banks in Nigeria.
Because money and credit are pivotal to the economy, banks who keep this cash and extend loans are the lifeblood of the economy. And their financial health is of paramount importance from investors to petty traders.
In Nigeria, the banking industry is lucrative, buoyed by a growing and young population.
However, in the last one year, monetary policy decisions have taken a new trajectory as the stability in the foreign exchange market resulted in the disappearance of foreign exchange revaluation gains, and there is going to be a slowdown in income from investment securities as the central bank now embraces a dovish tone.
Zenith Bank is the most profitable lender in Nigeria as it recorded profit after tax (PAT) of N764.02 billion in the first nine months of 2025.
That compares with Guaranty Trust Holding Company GTCO, (N669.64 billion); United Bank for Africa, (N537.52 billion); FirstHoldCo, (N458 billion) and Access Holdings, (N447.54 billion).
Analysis of the financial statement of these lenders showed their profits slumped as they are feeling the pang of an unstable macroeconomic environment.
Even amid a drop in profits, banks have attractive valuation and high dividend yields. They are going to pay interim dividend to their shareholders, which is why their stocks are allured to investors.
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