Five Nigerian banks collectively earned N2.22 trillion from customer lending in the first half of 2025, marking a sharp 40% rise from N1.58 trillion recorded in the same period of 2024.

The banks include Ecobank Transnational Incorporated, First Holdco Plc, Wema Bank Plc, FCMB Group Plc, and Sterling Financial Holdings Company Plc.

These figures do not include major banks such as Zenith Bank Plc, Fidelity Bank Plc, and Guaranty Trust Holding Company Plc, which had previously released their financials after receiving approval from the Central Bank of Nigeria (CBN).

The increase in revenue aligns with the Monetary Policy Rate (MPR) being held at 27.5% during the period, as the CBN intensified efforts to rein in persistently high inflation.

Compared to global lending rates, which average under 10%, many African nations, including those where Ecobank and First Holdco operate, maintain significantly higher rates, often exceeding 20%.

Although such monetary policies aim to stabilise economies facing currency depreciation and inflation, they also create borrowing challenges for businesses and individuals, slowing down economic activity and job growth.

In regions like Nigeria and Angola, elevated interest rates persist despite strong earnings from oil exports.

Meanwhile, countries such as Ghana and Zimbabwe continue to battle weak currencies and surging consumer prices, prompting central banks to adopt tighter monetary stances.

Financial breakdown and analyst insights

According to H1 2025 financial disclosures, Ecobank Transnational Incorporated reported N750.59 billion in loan interest income, a 17.08% increase from N641.08 billion in H1 2024.

Recall that Legit.ng had reported earlier that the bank generated N2.76 trillion from loan interests in 2024, a 128.3% growth from the N1.21 trillion reported in 2023.

First Holdco recorded N910.32 billion, rising 60.01% from N568.9 billion in the same period last year.

FCMB Group posted N299.15 billion, up 55% from N192.46 billion, while Wema Bank’s figure climbed 49.6% to N141.01 billion from N94.25 billion.

Sterling Financial Holdings Company saw interest income grow by 35.95%, reaching N115.42 billion compared to N84.9 billion in H1 2024.

Combined, these five banks generated a total of N3.79 trillion in interest income during H1 2025, up nearly 40% from the N2.72 trillion posted in the first half of 2024.

Interest income typically includes revenue from loans and advances to customers and banks, as well as investment securities and liquid assets.

On the expense side, the five banks reported N1.48 trillion in interest costs for H1 2025, representing a 22.8% rise over the N1.21 trillion recorded in H1 2024.

Market analysts attribute both the surge in earnings and rising interest expenses to the prevailing high-rate environment that has taken hold across many African economies since 2024.