In the third quarter of 2023, Nigerian banks exhibited varying levels of profitability, as indicated by their respective Profit After Tax (PAT) figures:
1. Zenith Bank: Leading the group, Zenith Bank reported a robust PAT of ₦142.44 billion, showcasing its strong financial performance.
2. Access Bank: Following closely, Access Bank achieved a noteworthy PAT of ₦115 billion, solidifying its position in the market.
3. GTBank (Guaranty Trust Bank): With a PAT of ₦86.93 billion, GTBank maintained a substantial financial standing within the competitive banking sector.
4. UBA (United Bank for Africa): UBA demonstrated resilience with a PAT of ₦71.06 billion, contributing to its overall stability.
5. First Bank of Nigeria (FBN): FBN secured a PAT of ₦49.24 billion, reflecting its significant presence in the banking industry.
6. StanbicIBTC: StanbicIBTC reported a PAT of ₦41.31 billion, reinforcing its position as a key player in the financial market.
7. Fidelity Bank: Fidelity Bank recorded a PAT of ₦29.76 billion, highlighting its consistent performance and market presence.
8. Unity Bank: Unity Bank’s PAT stood at ₦9.05 billion, showcasing its contribution to the overall profitability of Nigerian banks.
9. Wema Bank: Wema Bank reported a PAT of ₦8.75 billion, emphasizing its role in the competitive banking landscape.
10. Sterling Bank: Sterling Bank recorded a PAT of ₦5.81 billion, underscoring its financial performance during the third quarter.
11. Jaiz Bank: Jaiz Bank concluded the list with a PAT of ₦2.66 billion, contributing to the diverse financial landscape in Nigeria.
This statistical overview provides insight into the financial health of Nigerian banks during Q3 2023 and underscores the dynamic nature of the banking sector on the Nigerian Stock Exchange (NGX).
