Nigeria’s leading commercial banks earned a combined N224.69 billion from electronic banking services, card-related fees and ATM transactions during the first quarter of 2026, reflecting the growing role of digital financial services in the country’s banking industry.
An analysis of the latest unaudited financial results released by 11 listed lenders showed that income from digital channels increased by 12.56 per cent compared to the N199.61 billion recorded during the same period in 2025.
The rise in earnings highlights the continued shift by customers and businesses towards electronic payments, mobile banking, internet banking platforms and card-based transactions as banks deepen investments in digital infrastructure and financial technology. According to Brandspur Banking News Desk, revenue generated from electronic banking activities remains one of the strongest contributors to non-interest income across the sector.
Data from the financial statements indicate that revenue from e-banking platforms rose to N177.97 billion during the quarter, while ATM and card management charges climbed to N46.70 billion, demonstrating increased transaction volumes across digital channels.
Among the lenders reviewed, Access Holdings recorded the highest digital banking revenue at N55.71 billion, followed by UBA with N46.93 billion. Ecobank generated N35.53 billion from card-related services, while GTCO and Zenith Bank reported N21.90 billion and N21.54 billion respectively from electronic banking products.
Other institutions posting notable earnings included First Holdco, Fidelity Bank, Wema Bank, Stanbic IBTC, Sterling Financial Holdings and Jaiz Bank, all of which reported varying levels of growth in digital service income.
Fidelity Bank emerged as one of the fastest-growing players in the segment, posting a sharp increase in earnings from electronic banking and ATM-related charges. GTCO, Zenith Bank and Stanbic IBTC also recorded significant year-on-year improvements in digital banking revenue.
Despite the broader industry growth, some lenders reported declines in specific digital income lines. Wema Bank experienced a substantial drop in fees generated from electronic products, while UBA and Ecobank recorded marginal declines in selected digital banking categories.
The latest figures come amid continued expansion in Nigeria’s digital payments ecosystem, supported by growing smartphone penetration, increased adoption of cashless payment channels and regulatory efforts aimed at strengthening financial inclusion.
Recent economic indicators also suggest improving business activity across the country. The banking industry has continued to benefit from stronger demand for digital financial services as individuals and businesses increasingly rely on electronic transactions for everyday payments.
Across Africa, development institutions have repeatedly identified digitalisation as a key driver of financial inclusion, economic formalisation and domestic revenue generation. Digital payment systems are increasingly helping governments and financial institutions improve transparency, expand access to financial services and support small businesses operating outside traditional banking structures.
Analysts believe the growing contribution of digital channels to bank earnings underscores the long-term transformation of Nigeria’s financial sector, with electronic banking expected to remain a major source of revenue as adoption continues to expand in 2026.
