Five mid-sized Nigerian banks grew their combined assets to N20.47tn while recording N338.4bn profit after tax in the first half of 2026, according to an analysis by Punch.
The banks, Wema Bank, FCMB Group, Sterling Financial Holdings, Jaiz Bank and Infinity Trust Mortgage Bank, jointly generated N1.43tn in gross earnings during the six months ended June 30.
The figures offer an early view of the sector’s performance, as Nigeria’s Tier 1 lenders are yet to release their audited half-year results.
FCMB Group led the group with total assets of about N8.36tn, up 9.53 per cent from December 2025. The lender posted profit after tax of about N139.9bn, representing a 90.5 per cent jump, on gross earnings of N676.2bn.
Wema Bank followed with N5.76tn in total assets, a 13.5 per cent rise. It reported N131.37bn in profit after tax, up 50.1 per cent, while gross earnings climbed 36.9 per cent to N415.09bn.
Together, FCMB and Wema accounted for N271.25bn, or roughly 80 per cent of the N338.4bn combined profit, based on Punch data.
Sterling Financial Holdings recorded N4.67tn in assets and N50.30bn in profit after tax, while Jaiz Bank, the country’s first fully licensed non-interest bank, reported about N1.64tn in assets. Infinity Trust Mortgage Bank closed the list with N53.25bn in assets.
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