Kayode Tokede
Following the frequent hike in the Monetary Policy Rate (MPR) by the Central Bank of Nigeria (CBN), a total of 10 Deposit Money Banks (DMBs) generated an estimated N12.24 trillion in interest income from loans and advances to customers, banks, and investment in federal government’s securities in the first nine months of 2024.
The 2024 figure of N12.24 trillion interest income, according to extracts from the unaudited nine months results (January to September) posted on the Nigerian Exchange Limited (NGX), translates into a 148 per cent increase when compared with the N4.9 trillion generated in nine months of 2023.
The 10 DMBs are Access Holdings Plc, Guaranty Trust Holding Company Plc (GTCO), Zenith Bank Plc, United Bank for Africa (UBA) Plc, Ecobank Transnational Incorporated (ETI), and FBN Holdings Plc.
Others are Fidelity Bank Plc, Wema Bank Plc, Stanbic IBTC Holdings Plc and Sterling Financial Holdings Company Plc.
These DMBs have…
Source: Thisday Newspaper
