Our discussion today is centred on the third quarter results of Nigerian lenders with a view to analysing their revenues, profits, assets, loans, deposit, and returns on investments.
Nigerian lenders have been grappling with regulatory induced costs as the Central Bank of Nigeria (CBN) tightened monetary policy in the period in a bid to stabilise the naira.
Winners at the top and bottom line level
Stanbic IBTC Holdings plc recorded double digit growth at both the top and the bottom line level as it recorded a 14 percent increase in gross earnings and a 57 percent spike in profit (see table one).
The lender has been hitting the double digit mark since the beginning of the year a performance that resulted in a return on average equity ROaE and Return on average assets (ROaA) of 28.97 percent and 3.47 percent respectively.
Of the Tier one lenders, Access Bank emerged the best performer with its 17 percent and 28 percent increase in gross earnings and net income compared to its peers.
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Others are Ecobank, Sterling, and Wema Bank with year on year double digit growth.
Assets, loan and deposit growth
Based on BusinessDay analysis, the cumulative total assets of the 15 lenders grew by 10 percent to N26.93trn from N24.50trn in the same period of the corresponding year (Q3) 2013.
Deposits from customers also rose by 5 percent to N18.90trn the period under review while loans and advances to customers were up by 18 percent to N12.38trn.
PATRICK ATUANYA and BALA AUGIE
