8 banks generate N498.45bn from E-banking income in 2025
A total of eight banks generated an estimated N498.45billion from electronic-banking income in the 2025 financial year, up by 13.2per cent from N440.41 billion reported in 2024.
Electronic banking income represents income taken on transactions processed via electronic channels such as ATM, POS, mobile banking as well as credit and debit card transactions.
The eight banks are: Zenith Bank Plc, Ecobank Transnational Incorporated (ETI), United Bank for Africa (UBA), Guaranty Trust Holding Company Plc (GTCO), First Holdco Plc, Stanbic IBTC Holdings Plc, FCMB Group Plc, and Wema Bank Plc.
The reported N498.45billion from electronic-banking income in 2025 is coming amid competition by Fintech companies operating in Nigeria.
In the period under review, UBA declared N225.63 billion from E-banking income, a drop of about 4.5 per cent from N236.31billion in 2024, while Zenith Bank posted N89.13billion E-banking income in 2025 , up by 11.2 per cent from N80.05billion reported in 2024.
First Holdco in 2025 accounted for N71.1 billion E-banking income, a growth of 100.4 per cent from N35.5billion in 2024, while GTCO closed 2025 with N64.72 E-banking income , a growth of 14.4 per cent from N56.6 billion in 2024.
According to GTCO, the increased transaction limits drove stronger SME adoption and higher platform activity.
“While card-based payments remain central, user behavior reflects a decline in physical card usage and a growing preference for alternatives like pay-with-transfer (2025: 190.1M; 2024: 4.9M)
“Strong growth in transaction value, with increased average ticket sizes reflecting deeper customer engagement and confidence.
“Pay-with-transfer volumes continue to increase, reflecting strong user adoption driven by speed and convenience (2025: N10.4trillion; 2024: N131.5billion), positioning it as one of the fastest-growing payment methods.”
As Wema Bank declared N28.86 billion E-banking income in 2025, representing an increase of 105.1 per cent from N14.07 billion in 20204, FCMB Group announced N14.35billion E-banking income in 2025, about 5.1 per cent growth over N13.65 billion in 2024.
In addition, Stanbic Ibtc Holdings saw its E-banking income move from N4.36 billion in 2024, to N4.64 billion in 2025, representing an increase of N6.4 per cent.
