Six banks have posted more than N2.4 trillion as Profit After Tax (PAT) for nine months ended September 30, as against the N2 trillion recorded in the same period in the 2024 financial year (FY).

The figure represented a 20 per cent increase from the profit recorded in the same period of 2024.

It was discovered that banks’ quarter three (Q3) unaudited financial statements posted on the Nigerian Exchange Group (NGX) platform indicated that most of the banks recorded an increase in their gross earnings.

The banks’ analysed are First HoldCo Plc, Access Holdings Plc, Zenith Bank Plc, United Bank for Africa (UBA) Plc, Sterling Financial Holdings and Wema Bank Plc.

Their Profit Before Tax (PBT) for nine months ended September rose to N2.895 trillion against the N2.8 trillion recorded in the same period in the 2024 financial year (FY).

The figure represented a two per cent increase from the profit recorded in the same period of 2024.

However, customers’ deposits increased astronomically during the period under review compared to the 2024 FY ended December.

Customers’ deposits in First HoldCo Plc increased from N17.1 trillion as of December 2024 to N17.89 trillion in nine months ended September 30, 2025.

For Access Holdings Plc, customers’ deposits increased to N33.1 trillion in nine months ended September 30 from N22.5 trillion as of December 2024.

Zenith Bank Plc posted N23.69 trillion as its customers’ deposits for nine months compared to the N21.959 trillion recorded in the 2024 financial year (FY).

The bank categorised its customers deposits as demand, savings and term respectively.

Similarly, UBA Plc recorded N23.799 trillion as its customers’ deposits in nine months against N21.89 trillion posted in the 2024 financial year.

Sterling Financial Holdings Plc recorded N2.879 trillion as customers’ deposits in nine months ended September 30, 2025,  against N2.5 trillion posted in 2024 FY.

Also, Wema Bank Plc, posted N2.7 trillion as its customers’ deposits in nine months compared to the N2.5 trillion recorded in 2024 ended December.

Reacting to these headwinds, financial experts advised banks to ensure the profit culminated into dividend increase for shareholders and better service delivery to customers.

The Director, Institute of Capital Market Studies, Nasarawa State University Keffi, Prof. Uche Uwaleke, urged banks to show that their earnings were solid, not just driven by short-term factors.

Mr Uwaleke, also the President, Capital Market Academics of Nigeria (CMAN), said that banks should also ensure that customers benefited from their growth through better service and clearer communication.

He stated, “Some banks posted profits in Q3, yet it does not surprise me that shareholders and customers are still uneasy. The results reflect the banks’ ability to reprice assets and take advantage of higher yields, which lifts profit on paper. What people experience, though, is the pressure of fees, tough economic conditions, and concerns about how sustainable these profits really are. 

“The gap between the headline numbers and everyday realities creates that tension. Banks will need to show that the earnings are solid, not just driven by short-term factors, and that customers benefit through better service and clearer communication. That is what ultimately settles nerves.”

A former President of the Chartered Institute of Bankers of Nigeria (CIBN), Okechukwu Unegbu, said that banks’ profits should reflect on dividends paid to shareholders.

Mr Unegbu said the growth in customers’ deposits were as a result of renewed saving culture of citizens to avoid tension when the need arose.

“The profit will mean they will have to give higher dividends and banks most of the time are not comfortable with giving higher dividends. Customer deposit growth can be anticipated because most of the time, you do not want to withdraw what you have. One will do all it takes to save the little he or she can in anticipation of a rainy day,” he said.

A Zenith bank  customer, Augustina Ode, appealed to banks to prioritise their customers’ service department as a way of ensuring improved service delivery and  customers’ satisfaction. 

 (NAN)