June 15, (THEWILL) — Nigerian banks generated ₦224.69 billion from electronic banking services and ATM/card-related charges in the first quarter of 2026, reflecting the growing adoption of digital payment channels across the country.
Analysis of the unaudited financial statements of 11 listed lenders showed that income from e-banking services and ATM/card management fees rose by 12.56 percent from ₦199.61 billion recorded in the corresponding period of 2025.
The increase highlights the expanding role of digital banking as a major source of non-interest revenue for financial institutions. Income from electronic banking and e-business activities climbed by 11.57 percent to ₦177.97 billion, while ATM and card management fees grew by 16.48 percent to ₦46.70 billion during the review period.
Among the banks surveyed, Access Holdings recorded the highest earnings from digital banking channels, generating ₦55.71 billion. United Bank for Africa followed with ₦46.93 billion, while Ecobank earned ₦35.53 billion from card management fees. GTCO posted ₦21.90 billion in e-business income, while Zenith Bank generated ₦21.54 billion from electronic product fees.
Other contributors included First Holdco, Wema Bank, Fidelity Bank, Stanbic IBTC, Sterling Financial Holdings and Jaiz Bank.
Fidelity Bank recorded the strongest growth in digital banking-related income, with earnings surging by 164.9 percent to ₦8.81 billion, driven largely by a sharp increase in ATM-related charges. GTCO, Zenith Bank and Stanbic IBTC also posted significant gains in digital banking revenue.
The strong performance comes amid broader growth in banking sector fee income and ongoing reforms aimed at strengthening the financial system. Analysts say increased digital payment adoption, improving economic activity and financial-sector reforms are driving the trend.
The development also aligns with Africa’s broader digitalisation agenda. According to the African Development Bank, increased use of digital financial services is helping improve financial inclusion, boost formal economic participation and strengthen domestic revenue mobilisation across the continent.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
