Nigeria’s top ten listed banks collectively posted a pretax profit of ₦2.7 trillion in the first half (H1) of 2025, according to data compiled from their half-year financial statements.
While this represents a 12% decline from the ₦3.16 trillion recorded in the same period of 2024, analysts note that the results still underscore the resilience and stability of Nigeria’s banking sector amid a challenging macroeconomic environment.
Profit before tax (PBT) remains a key indicator of banks’ financial health, showing how much they earn after accounting for operational and credit costs but before taxation. Investors and regulators use it to gauge operational efficiency and sectoral trends.
Among the top-tier institutions, most banks recorded strong core income growth despite tighter monetary conditions, FX volatility, and elevated operating expenses.
10. Jaiz Bank — ₦14.7 Billion
Jaiz Bank Plc ranked 10th among Nigeria’s most profitable banks in H1 2025, with a pretax profit of ₦14.7 billion, up 27.64% from ₦11.5 billion in the same period last year.
The non-interest bank saw impressive growth in its financing income, which surged 31.9% to ₦19.6 billion, driven mainly by Murabaha (cost-plus financing) transactions that contributed ₦13.8 billion, and Ijara (leasing) income at ₦4.7 billion.
Total income from investing activities climbed to ₦24.3 billion, boosting gross income to ₦44 billion. After accounting for a modest impairment charge of ₦351.5 million, net income after provisions rose 29.5% to ₦43.6 billion.
The bank also earned ₦2.4 billion in fees and commissions, while operating expenses totaled ₦18.4 billion, resulting in the ₦14.7 billion pretax profit.
As of June 2025, total assets stood at ₦964 billion, reflecting a 10.8% decline, while retained earnings held steady at ₦15.6 billion.
The Broader Picture
The first-half results reaffirm that Nigeria’s banking sector remains profitable and operationally sound, despite rising costs, naira volatility, and evolving regulatory pressures.
With Fidelity Bank yet to publish its H1 results, the ranking may still shift slightly, but early data suggest that the top banks continue to demonstrate robust earnings capacity, aided by strong balance sheets, higher interest margins, and growing digital transaction volumes.
As the second half of 2025 unfolds, analysts will be watching closely to see whether banks can sustain profitability amid tightening liquidity conditions, high inflation, and potential interest rate adjustments by the Central Bank of Nigeria (CBN).
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