Financial figures compiled showed that FCMB Group, Wema Bank, Sterling Financial Holdings, Jaiz Bank and Infinity Trust Mortgage Bank generated approximately ₦1.43 trillion in combined earnings during the six months ended June 30.

The ₦20.47 trillion represents their collective assets, rather than the balance sheet of any individual lender. Assets include loans, cash, investments and property, according to a report by Punch.

FCMB and Wema dominate profits FCMB led the group with assets of approximately ₦8.36 trillion, followed by Wema with ₦5.76 trillion and Sterling with ₦4.67 trillion. Jaiz reported ₦1.64 trillion, while Infinity Trust’s assets stood at ₦53.25 billion.

FCMB and Wema together generated approximately #271.25 billion in profit after tax, accounting for about 80 per cent of the five institutions' combined profit.

FCMB's gross earnings increased 27.8 per cent to #676.2 billion, while profit after tax jumped ap-proximately 90.5 per cent to #139.9 billion. Profit before tax rose 98.8 per cent to #157.3 billion.

Its total assets expanded by 9.53 per cent.

Wema delivered profit after tax of #131.37 billion, nearly matching FCMB despite its smaller as-set base.

The bank's unaudited results showed that profit after tax grew 50.1 per cent, while gross earnings increased 36.9 per cent to N415.09 billion. Interest income climbed 42.7 per cent to #342.64 billion.

Wema's loans and advances increased 21.7 per cent to #2.12 trillion, while customer deposits reached approximately #3.45 trillion.

Sterling grows despite higher impairment charges

Sterling Financial Holdings recorded profit after tax of #50.30 billion, up 20.4 per cent from #41.78 billion a year earlier.

Gross earnings rose 31.5 per cent to #279.6 billion, while profit before tax increased 21.9 per cent to #55.53 billion.

However, credit impairment charges climbed sharply to approximately #23.85 billion from #5.21 billion. Its reported non-performing loan ratio remained at 4.7 per cent.

Customer deposits grew 21.1 per cent to #3.62 trillion, while loans and advances increased 13.7 per cent to #1.61 trillion.
Jaiz expands as Infinity remains smaller

Jaiz Bank's assets grew approximately 27 per cent from #1.29 trillion at the end of 2025.

Profit after tax reached about #15.1 billion, compared with #14.45 billion a year earlier. Gross in-come from financing and investment transactions increased to #54.5 billion from #44.01 billion.

As a non-interest bank, Jaiz generates income through financing and investment activities rather than conventional interest.

Infinity Trust remained considerably smaller. Its focus on housing finance also makes direct com-parisons with diversified banking groups less straightforward.

Economist seeks stronger business lending

Economist Dr Aliyu Ilias told The PUNCH that banks were benefiting from economic activity, par-ticularly in stock and foreign exchange markets.

He urged lenders to channel more funding towards manufacturers, agriculture and small businesses.

"Banks should actually support MSMEs and agriculture through direct lending," he said, call-ing on the Central Bank of Nigeria to enforce measures designed to improve credit access for these productive sectors.

Nigerian banks with highest-paid CEOs

Legit.ng earlier reported that executive pay at some of Nigeria's biggest banks rose sharply in 2025, with the remuneration of several highest-paid directors growing much faster than profits.

Financial statements from five major banking groups show that FCMB Group recorded the high-est absolute remuneration for its highest-paid director at N447.9 million, followed by Zenith Bank at N367 million and Access Holdings at N293 million.