Banks spend N76.5bn on marketing in three months
Nigerian banks increased marketing spend by 5.35% to N76.5bn in Q1 2026, despite tighter CBN regulations. Discover which banks spent the most. Read More: https://punchng.com/banks-spend-n76-5bn-on-marketing-in-three-months/
Nigeria's deposit money banks spent N76.54bn on marketing, advertising, and corporate gifts in Q1 2026, marking a 5.35% increase from N72.65bn in the same period last year, according to unaudited financial statements analyzed by The PUNCH. Among the banks, United Bank for Africa led with a 177.69% increase to N15.68bn, while Fidelity Bank and First HoldCo saw reductions of 3.86% and 29.07%, respectively.
Jaiz Bank experienced the highest percentage growth at an astounding 1,623.60%, reaching N529.49m. Despite tighter regulatory requirements for financial-sector advertising, banks collectively expanded their marketing expenditure in Q1 2026.
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