The combined Profit after Tax (PAT) of five of Nigeria’s deposit money banks (DMBs) rose by 5.70 per cent, or N27.02 billion, to N500.91 billion in the first six months of the year, compared to N473.89 billion, in the corresponding period of 2024, H1’25 results released by the lenders show.
The five DMBs are Sterling Financial Holdings Company Plc, Wema Bank Plc, FCMB Group Plc, First HoldCo Plcand Jaiz Bank Plc. New Telegraph’s analysis of the lenders’ unaudited Half Year (H1) financial results for the period ended June 30, 2025, presented to the Nigerian Exchange (NGX), shows that contrary to analysts’ prediction that the country’s banks will likely experience a phase of slower profit growth this year, as exchange rate stability has reduced their foreign exchange revaluation gains, the DMBs generally still posted strong PAT growth in H1’25.
Specifically, Sterling Financial Holdings Company’s H1’ 25 PAT surged by 156.99 per cent, or N25.51 billion, to N41.78 billion from the N16.26 billion that the lender reported for the corresponding period of last year. Also, at N87.52 billion, Wema Bank’s H1’25 PAT, jumped by 229.08 per cent compared to N26.60 billion in the first half of 2024.-15+ MINUTES VIDEO: FATHER CAUGHT IN UNSPEAKABLE POSITION WITH HIS DAUGHTER IN LAGOS HOTEL (DON’T OPEN IN PUBLIC)
Similarly, FCMB posted a PAT of N73.4 billion in the first six months of the year compared to N59.48 billion in H1’24. Non-interest lender, Jaiz Bank Plc’s PAT also headed north in the first half of 2025, as it rose to N14.45 billion from N11.28 billion in the corresponding period of last year. First HoldCo’s H1’2025 PAT closed at N283.77 billion compared to N360.27 billion in the first half of 2024...READ FULL ARTICLE>>
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