OPay recorded revenue of N653 billion in the first half of 2026, placing the eight-year-old financial services company behind established Nigerian banking groups Zenith Bank and Guaranty Trust Holding Company (GTCO), which reported N1.9 trillion and N1.1 trillion, respectively, over the same period.
The figures highlight the scale of revenue generated by Nigeria’s financial services industry, where relatively young digital finance businesses are competing alongside institutions with decades of operating history.
According to the Brandspur Banking News Desk, Zenith Bank and GTCO have both been in operation for about 36 years, compared with OPay’s eight-year history. Despite the difference in age, OPay’s reported six-month revenue demonstrates the substantial business activity the company has built within a comparatively short period.
- Zenith Bank led the three institutions with N1.9 trillion in revenue, followed by GTCO at N1.1 trillion. OPay’s N653 billion placed it third among the three companies based on the figures provided.
The comparison also puts OPay’s performance into perspective. Its reported revenue was equivalent to about 59 per cent of GTCO’s and 34 per cent of Zenith Bank’s first-half total, despite the significant difference in their operating histories.
However, revenue alone does not establish which institution is more profitable or financially stronger. A fuller assessment would require other measures, including profit after tax, operating expenses, asset quality, capital strength and the basis on which each company’s revenue is reported.
For customers and businesses, the figures underline the growing financial significance of digital payment services alongside traditional banking. Mobile-based financial platforms have become part of Nigeria’s evolving financial landscape, although their performance should be assessed using comparable financial disclosures.
OPay’s N653 billion first-half revenue is a notable figure for a company with a much shorter operating history than the two banking groups. Whether it can narrow the revenue gap further will depend on its subsequent financial performance and ability to sustain growth.
