The bank’s profit after tax climbed to N314.02 billion. This robust performance placed Zenith Bank at the forefront of Nigeria’s financial landscape, where the combined profit before tax of seven major banks reached N1.6 trillion in Q1 2026.

Key financial highlights:

• Zenith Bank retained its position as Nigeria’s most profitable lender in Q1 2026.
• The combined profit after tax of these banks rose to N1.27 trillion.
• The aggregate profit before tax of the banks grew by 6.77% from N1.5 trillion in Q1 2025.
• The performance was buoyed by elevated yields on government securities and strong interest income from loans and advances.

The banking sector in Nigeria has shown resilience amid economic challenges such as inflationary pressures and exchange rate volatility. Despite these issues, Zenith Bank’s earnings growth remained steady, even with rising impairment charges and operating costs.

The Central Bank of Nigeria reported that as of March 6, 2026, 30 banks have met new minimum capital requirements. Access Holdings Plc also reported a profit before tax of N272.21 billion, up by 22.2% from the previous year.

This recapitalisation initiative, introduced in 2024, aims to reinforce the stability and long-term capacity of Nigeria’s banking system. Yet, Access Holdings noted a decline in interest income compared to Q1 2025.

The future remains uncertain as financial institutions navigate through these economic challenges while striving to maintain profitability and stability.

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Key financial metrics:

• Interest income declined by 9% to N895.034 billion in Q1 2026.
• Non-interest income grew by 19% to N444.683 billion in Q1 2026.
• Impairment charges increased by 239% to N73.81 billion in Q1 2026.
• Profit after tax for Q1 2026 was N216.537 billion, up 18.49% year-on-year.
• Total operating expenses reached N411.268 billion, a rise of 26.16% year-on-year.

The bank’s performance signals its strong position within the Nigerian banking industry. Access Holdings crossed the N1 trillion profit mark for the first time in FY 2025, with a pre-tax profit of N1.01 trillion, marking a 16% increase from the previous year.

Innocent C. Ike remarked, “Our 2025 performance reflects both the resilience of the Access franchise and the strength of the institution we have built over time.” He emphasized that Africa remains one of the most compelling long-term growth frontiers globally.

The bank’s total assets grew by about 4% in Q1 2026, while retained earnings increased by 19.36% to N1.997 trillion as of this period. The bank’s share price stood at N27 as of May 1, 2026.

Yet, despite these gains, net interest income after impairment charges grew by only 34% year-on-year to N265 billion, which is lower than the net non-interest income of N444.683 billion.

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Key statistics:

• Interest income grew by 17.5% year-on-year.
• Fee income rose by 7.1% year-on-year.
• The loan book increased by 1.3% to N3.17 trillion.
• Deposit liabilities grew by 6.3% to N13.69 trillion.
• Total assets stood at N18.7 trillion.
• Shareholders’ funds closed at N3.6 trillion.
• The Capital Adequacy Ratio remained at 39.5%.

GTCO’s financial statements reflect solid growth across its core income lines. The decline in IFRS 9 Stage 3 loans to 4.4% from 5.0% in December 2025 indicates improved asset quality. Additionally, the cost of risk improved significantly to 0.2%, down from 2.2% in December 2025.

Mr. Segun Agbaje, CEO of GTCO, emphasized the importance of these results, stating, “Our Q1 2026 results mark a defining shift in the quality and composition of our earnings.” He noted the company’s focus on driving sustainable earnings through customer relationships and technology deployment.

The outlook remains positive as GTCO sees significant headroom across payments and wealth management sectors in Nigeria and other African markets.

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In FY 2025, Access Holdings reported a profit after tax of N743.05 billion. Interest income increased by 5.32% to N3.27 trillion during the same period. The group’s total assets rose by 24.3% to N51.57 trillion.

Key financial highlights:

• Profit before tax for FY 2025 was N1.01 trillion.
• Customer deposits grew by 53.4% to N34.56 trillion.
• The share price of Access Holdings is currently N27.

Innocent C. Ike, CEO of Access Holdings, stated, “Our 2025 performance reflects both the resilience of the Access franchise and the strength of the institution we have built over time.” This statement underscores the bank’s commitment to sustainable growth.

Ike also emphasized that Africa remains a compelling long-term growth frontier globally. He noted that Access Holdings aims not only to participate in that growth but also to help shape and finance it.

The group reported a pre-tax profit of N1.007 trillion, marking a 16% increase from 2024. This consistent upward trend indicates robust operational efficiency and market positioning.

As Access Holdings continues to diversify its income streams through various subsidiaries, including investment management and insurance businesses, analysts expect further expansion in its financial capabilities.

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