Access Holdings, with N600.4 billion in nine months, led Nigerian tier-1 financial institutions’ significant growth in fees and commission income, which hit N1.778 trillion. This was fueled by higher transaction volumes, greater digital adoption, and stronger-interest revenue streams, all achieved despite a tough operating environment.
The ₦1.778 trillion, compared to N1.450 trillion in 2024, was the combined gross fees and commission income from Zenith Bank Plc, United Bank for Africa Plc, Guaranty Trust Holding Company Plc, Access Holdings Plc, and First HoldCo Plc for the nine months ending September 30, 2025.
Data from the unaudited interim financial statements for the period ending September 30, 2025, shows that Access Holdings Plc achieved remarkable growth, outperforming its peers with a 49.5 per cent year-on-year (YoY) rise in gross fees and commission income. This income surged to ₦600.4 billion from ₦401.5 billion in the same period of 2024, driven by higher earnings from cards, e-banking, and trade finance activities.
Guaranty Trust Holding Company (GTCO) Plc also posted a strong performance, with fees and commission income rising by 16.8 per cent to ₦210.5 billion from ₦180.2 billion in 2024, driven by growth in account servicing charges, letters of credit, and digital transaction fees.
First Bank Holdings (FBN HoldCo) Plc recorded a 26.9 per cent jump in gross fees and commission income to ₦260.5 billion, compared with ₦205.3 billion a year earlier. The improvement was linked to credit-related and electronic banking fees, signaling effective monetization of its retail and corporate services.
For Zenith Bank Plc, fees and commission income grew by 10.5 per cent, reaching ₦299.0 billion in 2025 from ₦270.7 billion the previous year. The increase was largely supported by credit-related fees, commissions on turnover, and agency services amid rising customer activity.
United Bank for Africa (UBA) Plc saw a modest 3.8 per cent uptick in fees and commission income to ₦407.9 billion, from ₦392.8 billion in 2024. While the bank maintained steady growth in credit-related fees and commissions, higher operating expenses compressed its net income from fees, which remained largely flat.
Overall, the data indicate broad-based growth across the industry, underscoring resilience in the non-interest income segment despite macroeconomic challenges, including inflationary pressures, foreign exchange volatility, and regulatory changes.
Although net fees and commission income grew at a slower pace due to cost pressures, most banks sustained positive trajectories. This note that the performance reinforces the sector’s ongoing diversification beyond traditional interest income, as lenders continue to leverage digital platforms, agency banking, and transaction-based services to boost earnings.
Further insights are expected when full Q3 reports and management commentaries become available, providing clearer context on the sustainability of non-interest revenue growth in the final quarter of 2025.
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