Nine deposit money banks in the country have reported N4.05 trillion interest income from loans and advances to customers, investment securities and loans and advances to banks in nine months of 2023.
According to the report released by the Nigerian Exchange Limited, the figure represents an increase of 67 per cent over N2.43 trillion recorded in the corresponding period of 2022.
The DMBs are Access Holdings Plc, United Bank for Africa (UBA), Guaranty Trust Holding Plc (GTCO), Zenith Bank Plc, FBN Holdings Plc, Fidelity Bank Plc, Stanbic IBTC Holding Plc, Sterling Financial Holdings Company Plc and Unity Bank Plc.
The report said Access Holdings, Zenith Bank and UBA recorded the highest interest income among the other banks.
Access Group took the lead posting N1.593 trillion; Zenith Bank, N1.329 trillion; UBA, N1.308trillion; FBN Holdings, N1.080 trillion and GTBank Group, N850.330 billion
Interest expenses of the nine banks stood at N1.74 trillion in nine months of 2023 from N883.7 billion during the corresponding period in 2022.
