UBA, Access Holdings, Others Gross Earnings Up 25% in Q1 to N1.54trn – THISDAYLIVE

📆 6/27/2022 1:30 AM
📰 THISDAY LIVE

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Despite the challenging operating environment, a total of 13 Nigerian banks grew their gross earnings by 25 per cent in the first quarter ended March 31, 2022, THISDAY findings revealed.

The 13 that is made up of 5 Tier-1 and 8 Tier-2 banks reported N1.54 trillion gross earnings in Q1 2022, representing an increase of 25 per cent over the N1.23 trillion reported in Q1 2021.

Operating as a pan-African bank, ETI and Access Holdings expanded gross earnings in the period under review as the year commenced with great expectations for growth globally on the back of the recovery achieved in 2021. Commenting, Zenith Bank said the double-digit growth in the topline also spurred its bottom line as the Group recorded an 11 per cent increase in profit before tax, growing from N61 billion in Q1 2021 to N68 billion in Q1 2022.

Uzoka added that, “Notwithstanding these developments, we were able to leverage gains from our large customer base and vast geographical spread to bolster earnings.

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