By Abubakar Yunusa
Nigeria’s tier-one lenders, Zenith Bank Plc and Guaranty Trust Holding Company Plc, recorded a combined N283.7bn in income from account maintenance and electronic banking charges in 2025.
The figures were contained in the audited financial statements for the year ended December 31, 2025, filed with the Nigerian Exchange.
The earnings underscore how banks are increasingly monetising digital channels amid rising transaction volumes driven by mobile banking, USSD services, card payments and online transfers.
As customer behaviour continues to shift away from physical banking halls, fee-based income has emerged as a critical buffer against interest rate volatility.
Account maintenance charges—mainly on current accounts—alongside e-business income such as ATM withdrawals and transfer fees, have continued to provide steady and recurring revenue.
The trend has further reinforced the profitability of lenders operating in a high-inflation, technology-driven environment.
A breakdown of the figures showed that Zenith Bank generated N91.95bn from account maintenance fees in 2025, representing a 26.1 per cent increase from N72.93bn recorded in 2024.
Its electronic banking income also rose to N89.13bn, up by 11.3 per cent year-on-year, reflecting sustained growth in digital transaction volumes.
Similarly, GTCO recorded N37.92bn in account maintenance income, a 16.1 per cent rise from N32.66bn in the previous year.
Its electronic banking revenue climbed to N64.72bn, marking a 14.4 per cent increase compared to N56.56bn in 2024.
Combined, both banks earned N129.87bn from account maintenance and N153.85bn from e-business transactions, bringing total fee-based income from the segments to N283.7bn.
The development highlights how digital banking has evolved into a major revenue driver for financial institutions.
Analysts say the strong growth in fee income reflects deeper financial inclusion and increased reliance on digital banking platforms across the country.
Banks have also continued to invest heavily in fintech infrastructure, improving service delivery while expanding revenue opportunities.
For Zenith Bank, the growth aligns with its broader earnings strategy anchored on interest income expansion and efficient balance sheet management.
The bank recorded significant gains from loans and advances as well as treasury instruments, consolidating its position among Nigeria’s most profitable lenders.
At GTCO, the rise in e-business income complements its ecosystem-driven model, which integrates banking with payments and digital services.
The group’s management has emphasised earnings sustainability, with improved asset quality, stronger capital buffers and disciplined execution supporting long-term growth.
