Lending, Govt Securities Gain Lifts Nine Banks Interest Income to N12.9tn
Kayode Tokede On the back of encouraging interest on lending to customers and yield on government securities, Access Holdings Plc and eight other deposit money banks generated N12.9 trillion interest income
From September 2025 to September 2026, nine Nigerian deposit money banks collectively generated an impressive N12.9 trillion in interest income, marking a slight 0.9% increase compared to the previous year's N12.75 trillion. Access Holdings Plc led the charge, reporting N3.1 trillion in interest income, a notable 6.9% rise from N2.9 trillion in the same period last year.
Driven by loans and advances to customers, Access Holdings' performance was a key factor in the sector's growth. Other banks also reported varying levels of growth, with Zenith Bank, Ecobank Transnational Incorporated, First Holdco Plc, Guaranty Trust Holding Company Plc, Wema Bank Plc, Sterling Financial Holdings Company Plc, and Abbey Bank Plc all contributing to the overall increase.
Despite the increase, the average maximum lending rate in Nigeria rose from 29.84% to 32.62%, reflecting the global trend of higher interest rates in African economies. This rise, while not ideal for businesses and customers seeking credit, is often a response to high inflation or a weakening currency, strategies employed by central banks to stabilize their economies.
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