ENUGU, Nigeria (VOICE OF NAIJA)- Eleven prominent commercial banks listed on the Nigerian Exchange collectively generated a substantial N72.723 billion in account maintenance charges during the first half of 2023, according to data sourced from their half-year financial statements.
Zenith Bank, Access Holdings, GTCO, and UBA emerged as the leaders in this regard, with significant contributions from other banks such as First Bank, FCMB, Sterling Bank, Stanbic Bank, Fidelity Bank, Wema Bank, and Unity Bank.
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This figure represents a notable 7.44 percent increase compared to the N67.690 billion recorded in the same period in 2022.
Account maintenance charges constituted a significant portion of the banks’ income during this period, with Zenith Bank leading the pack at N21.02 billion, followed by Access Holdings at N13.363 billion, GTCO at N10.481 billion, UBA at N9.64 billion, First Bank at N5.19 billion, FCMB at N3.85 billion, Stanbic IBTC at N2.643 billion, Sterling Bank at N2.392 billion, Fidelity Bank at N1.769 billion, Wema Bank at N1.636 million and Unity Bank – N745 million.