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16 hours ago
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- Customer deposits successful Nigerian commercialized banks roseate to implicit N140 trillion successful 2024 contempt the authorities of the economy
- Analysis showed that Access Holding leads with the highest magnitude of lawsuit deposits, followed by First Bank
- Customer deposits are among the astir competitory assets successful the banking sector, arsenic they service arsenic the superior root for issuing loans and backing different investments
Legit.ng writer Dave Ibemere has implicit a decennary of business journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends.
As of December 2024, full lawsuit deposits successful 10 commercialized banks listed connected the Nigerian speech had accrued to N140.97 trillion.
The latest fig represents a 51% summation successful lawsuit deposits compared to the N93.5 trillion generated successful 2023.
The figures are captured successful the 3rd 4th study of the fiscal institutions submitted to the Nigerian Exchange (NGX).
Source: Getty Images
The banks are: Ecobank Transnational Incorporated, Access Holdings Plc, Zenith Bank Plc, United Bank for Africa Plc, Guaranty Trust Holding Company Plc, First Holdco Plc, Fidelity Bank Plc, FCMB Group Plc, Stanbic IBTC Holdings Plc, and Wema Bank Plc.
Ten banks with the highest customers' deposit
Here is the breakdown of lawsuit deposits successful the apical 10 banks successful 2024, contempt contention from fintech companies similar Opay, Moniepoint, Palmpay, among others.
Ecobank Transnational Incorporated (ETI)
ETI recorded the highest lawsuit deposits among listed banks successful 2024, totalling N31.64 trillion.
This represents a 66.4% summation compared to N19.01 trillion successful 2023.
Access Holdings Plc
Access Holdings the parent institution of Access Bank, followed closely, reporting lawsuit deposits of N22.52 trillion successful 2024.
This represents a 47% summation from N15.30 trillion successful 2023.
Zenith Bank Plc
Zenith Bank reported lawsuit deposits of N21.96 trillion successful 2024 an summation of 45% from N15.17 trillion successful the erstwhile year.
Source: Getty Images
United Bank for Africa Plc (UBA)
UBA reported lawsuit deposits of N21.89 trillion successful 2024, representing a 47% emergence from N14.89 trillion successful 2023.
First Holdco Plc
First Holdco declared lawsuit deposits totalling N17.17 trillion successful 2024, a 61% maturation from N10.66 trillion recorded successful 2023.
Guaranty Trust Holding Company Plc (GTCO)
GTCO, the genitor institution of GTbank posted lawsuit deposits of N10.01 trillion successful 2024. This indicates a 35% summation from N7.40 trillion successful 2023.
Fidelity Bank Plc
Fidelity Bank reported lawsuit deposits of N5.90 trillion arsenic of December 2024.
FCMB Group Plc
FCMB Group declared lawsuit deposits of N4.30 trillion successful 2024.
Stanbic IBTC Holdings Plc
Stanbic IBTC Holdings recorded lawsuit deposits of N3.01 trillion successful 2024.
Wema Bank Plc
Wema Bank announced customer deposits of N2.53 trillion successful 2024.
Banks borrowed an estimated N33.97 trillion
Earlier, Legit.ng reported that the Central Bank of Nigeria (CBN) borrowed an estimated N33.97 trillion betwixt January and February 2025.
The loans are intended to negociate their regular concern operations and code liquidity concerns successful the interbank money market.
Experts property the expanding borrowing by banks from the CBN to the declining worth of the naira connected the overseas speech market, the apex slope absorbing surplus liquidity successful the fiscal sector, and the rising complaint of inflation.
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Source: Legit.ng
