11 Banks Generated N72.7bn From Account Maintenance Charges In H1 2023

Eleven commercial banks listed on the floor of the Nigerian Exchange, generated N72.723 billion from account maintenance charges in the half year of 2023.

VerseNews reports that this is according to data extracted from the half-year financial statements of the listed commercial banks in the Nigerian stock market.

The amount generated from account maintenance charges in half-year 2023, represents a 7.44 per cent increase compared to N67.690 billion recorded in the corresponding period of 2022.

Earnings from commercial banks’ charges on account maintenance took a large chunk of the income generated.

Below is a ranking of the 11 banks based on their account maintenance earnings in the half-year of 2023.

1. Zenith Bank – N21.02 billion
2. Access Holdings – N13.363 billion
3. GTCO – N10.481 billion
4. UBA – N9.64 billion
5. First Bank – N5.19 billion
6. FCMB – N3.85 billion
7. Stanbic IBTC – N2.643 billion
8. Sterling Bank – N2.392 billion
9. Fidelity Bank – N1.769 billion
10. Wema Bank – N1.636 million
11. Unity Bank – N745 million