Despite prevailing economic challenges, Nigeria's leading banks have demonstrated remarkable resilience by recording substantial profits.
Zenith Bank reported a profit before tax of N1.3 trillion for the year ended December 31, 2024, marking a 67% increase from N796 billion in the previous year.
United Bank for Africa (UBA) achieved a profit before tax of N803.72 billion, representing a 6.1% increase from N757.68 billion recorded in the prior year.
Guaranty Trust Holding Company (GTCO) reported a profit before tax of N1.266 trillion, a 107.8% increase over N609.3 billion recorded in the previous year.
Fidelity Bank Plc announced a pre-tax profit of N385.215 billion, marking a 210.01% year-on-year growth.
Stanbic IBTC Holding Plc reported a pre-tax profit of N303.796 billion, representing a 60.23% year-on-year growth.
These impressive results underscore the banks' strategic initiatives, operational efficiency, and ability to navigate a challenging economic landscape, reinforcing their pivotal role in supporting Nigeria's economic stability and growth.