Nigerian banks generated N224.69bn from electronic banking services and ATM/card-related charges in the first quarter of 2026, representing a 12.56 per cent increase from N199.61bn recorded in the corresponding period of 2025, an analysis of the unaudited financial statements of 11 listed lenders has shown.
The increase came as banks continued to deepen digital banking adoption and electronic payment services, with income from e-banking channels accounting for a significant share of non-interest revenue during the period under review.
Findings by The PUNCH showed that electronic banking and ATM/card management fee income rose by N25.06bn year-on-year, from N199.61bn in Q1 2025 to N224.67bn in Q1 2026. A breakdown showed that income from electronic banking and e-business activities increased by 11.57 per cent to N177.97bn from N159.52bn recorded a year earlier.
Similarly, earnings from ATM and card management fees climbed by 16.48 per cent to N46.70bn from N40.09bn in Q1 2025.
The growth in digital banking revenue coincided with a broader increase in banking sector fee income. The PUNCH earlier reported that the total fee and commission earnings of the 11 lenders rose by 13.64 per cent to N984.47bn from N866.30bn. Also, account maintenance fee income increased by 14.07 per cent to N209.18bn from N183.37bn.
Among the lenders reviewed, Access Holdings recorded the highest earnings from e-banking services, generating N55.71bn in Q1 2026. UBA followed with N46.93bn, while Ecobank earned N35.53bn from card management fees. GTCO posted N21.90bn in e-business income, and Zenith Bank generated N21.54bn from electronic product fees.
Other notable contributors included First Holdco with N20.75bn, Wema Bank with N6.10bn, Fidelity Bank with a combined N8.81bn from ATM charges and e-banking commissions, Stanbic IBTC with N4.33bn from card-based commissions and electronic banking fees, Sterling Financial Holdings with N2.89bn, and Jaiz Bank with N187.05m.
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An analysis of growth rates showed that Fidelity Bank recorded the strongest expansion in digital banking-related income. The lender’s combined ATM charges and e-banking commissions rose by 164.9 per cent to N8.81bn from N3.08bn in the corresponding period of 2025, driven largely by a 240.8 per cent jump in ATM charges.
GTCO followed with a 68.64 per cent increase in e-business income to N21.90bn from N12.99bn. Stanbic IBTC’s combined card-based commission and electronic banking income rose 52.8 per cent to N4.33bn, while Zenith Bank’s fees on electronic products increased by 58.91 per cent to N21.54bn.
Sterling Financial Holdings recorded a 22.15 per cent increase in e-business commissions and fees, while Access Holdings posted a 15.2 per cent rise in channels and e-business income to N55.71bn.
However, some lenders recorded declines in digital banking-related income. Wema Bank posted the sharpest decline, with fees on electronic products dropping by 50.68 per cent to N6.10bn from N12.37bn.
Stanbic IBTC’s electronic banking fees declined by 20.57 per cent to N865m, while UBA’s electronic banking income slipped marginally by 1.91 per cent to N46.93bn. Ecobank’s card management fees also declined slightly by 1.52 per cent to N35.53bn.
Further analysis showed that digital banking channels accounted for a significant portion of banks’ fee income. At Access Holdings, e-banking income contributed 27.2 per cent of total fee and commission earnings of N205.03bn. GTCO derived 27.27 per cent of its fee income from e-business services, generating N21.90bn out of N80.31bn total fee income.
UBA’s electronic banking income represented 37.82 per cent of its N124.07bn fee and commission revenue, making it the bank’s largest fee-generating line item. First Holdco generated 21.59 per cent of its fee income from electronic banking services, while Zenith Bank earned 25.4 per cent of its fee and commission income from electronic product fees.
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