Zenith Bank is comfortably in first place after generating N9.27 billion from account maintenance in the first quarter of 2022, compared to N7.88 billion in the third quarter of 2021.
This amount represents 25.7 per cent of the total income made by the 12 banks operating in the nation.
Similarly, the tier-1 giant printed a year-on-year 9.7 per cent increase in its profit after tax to N58.19 billion compared to N53.06 billion recorded in the corresponding period of 2021.
Access Bank, the largest financial institution in the country by customer base and total asset value, with a total asset of N12.08 trillion, came second recording a 16.2 per cent year-on-year increase in its account maintenance income in the first quarter of 2022 to stand at N6.04 billion from N5.2 billion.
In a similar fashion, the newly restructured bank grew its profit after tax to N57.39 billion from last year’s figure of N52.55 billion, representing a 9.2 per cent year-on-year increase.
GT Bank generated a sum of N5.17 billion from account maintenance income between January and March 2022. This represents a 23.8 per cent increase compared to N4.18 billion recorded in the corresponding period of 2021.
However, its net profit dropped by 5.1 per cent compared to N45.55 billion recorded as of the same period in the previous year to stand at N43.21 billion.
First Bank of Nigeria saw its account maintenance income increase marginally by 2.2 per cent from N4.05 billion generated in the first quarter of 2021 to N4.14 billion in the same period of 2022. It accounted for 11.5 per cent of the total account maintenance income of the industry.