In the first half of 2023, about three tier-1 banks generated N123.94 trillion from electronic banking.
Zenith Bank, Access Bank, and Guarantee Trust Bank are the banks that increased their earnings through electronic platforms.
The banks’ earnings are up 28.3% from the N96.58 trillion reported in the first half of 2022.
In the first six months of this year, three main Nigerian banks generated over N123.94 trillion through electronic channels.
Zenith Bank, Access Holdings Plc, and Guarantee Trust Bank are the banks involved.
The money was created by banks through electronic channels such as Unstructured Supplementary Service Data (USSD), ATM fees, and mobile banking, among others.
The banks’ earnings are up 28.3% from the N96.58 trillion reported in the first half of 2022.
According to a breakdown of the banks’ performance for the time under review, the three banks earned N87.43 billion from electronic channels as of June 30, 2023, up from N82.07 billion recorded in the first half of 2022.
Zenith Bank generated the most money throughout the period, followed by Access Bank and Guarantee Trust Bank.
In the first half of 2023, Zenith produced N54.03 trillion from its electronic banking platforms, a 9.1% rise over the N49.5 trillion reported in the same period the previous year.
Access Bank generated N49.69 trillion from electronic banking transactions in the first half of 2023, up from N28.85 trillion in the same period last year.
GTBank generated N20.22 trillion in revenue from its electronic banking channels in 2023, compared to N18.22 trillion in 2023. The figure is 11% higher than the figure published in the same period last year.
Guarantee Trust Bank earned N1.43 trillion from USSD in the first half of 2023, a 15% decrease from N1.68 trillion earned at the same time the previous year.
GTBank stated that it would invest in improving its digital banking capabilities in order to strengthen its position as the market leader in electronic banking.
According to ThisDay, GTBank reported that USSD transactions earned it roughly N1.43 trillion, a 15% decrease from the previous period, indicating an increase in mobile banking transaction value over the same period.
According to the bank, electronic banking platform use has increased, with solid growth in both volume and value of mobile banking.
