Thirteen Nigerian banks that have declared their half year results on the floor of the Nigerian Stock Exchange have made a profit after tax of N417.68 billion in 2019. This indicates that despite the low turn in the economy, the banks remain a profitable business for shareholders. The banks are Gtbank, Zenith, Access bank, UBA Stanbic-IBTC and FBN Holdings. Others are Fidelity bank, Union bank, FCMB, Sterling bank, Wema bank, Unity and Jaiz bank.
Top on the list of the half year profitability is Guaranty Trust bank with half year profit after tax of N99.1 billion. It was followed closely by its peer Zenith Bank with profit after tax for the period of N88.8 billion. Third in the pack is Access bank with N63 billion half year after tax profit. United Bank for Africa is next with after tax profit of N56.7 billion while the of Stanbic-IBTC was next with N36.2 billion.
First Bank holding trail from six position in the half year profitability index with N31.7 billion followed by Fidelity bank with water tax profit of N13.7billion. Union Bank followed from behind with N11.9 billion and FCMB with N7.5 billion. Sterling bank during the period recorded N5.7 billion after tax profit while Wema bank made for its shareholders N1.6 billion. Unity bank recorded N967.5 million just as Jaiz bank had a figure of N815.6 million.
Guaranty Trust Bank — N99.1bn
Zenith Bank — N88.8bn
Access Bank — N63.0bn
United Bank for Africa — N56.7bn
Stanbic-IBTC — N36.2bn
FBN Holdings — N31.7bn
Fidelity Bank — N13.7bn
Union Bank of Nigeria — N11.9bn
First City Monument Bank — N7.5bn
Sterling Bank — N5.7bn
Wema Bank — N1.6bn
Unity Bank — N967.5
Jaiz Bank — N815.6m