Banks Generate N225bn from ATM and E-Banking Fees as Digital Banking Soars

Nigerian banks earned N224.7bn from ATM and electronic banking charges in Q1 2026, a 12.6% increase from N199.6bn a year earlier, based on unaudited results from 11 listed lenders. Income from e-banking rose 11.6% to N178.0bn, while ATM and card fees jumped 16.5% to N46.7bn. Access Holdings led with N55.7bn in e-banking revenue, followed by UBA with N46.9bn. Ecobank earned N35.5bn from card fees, and GTCO generated N21.9bn from e-business services. Fidelity Bank recorded the fastest growth, with digital fee income surging 164.9%. Overall fee and commission revenue across the banks climbed 13.6% to N984.5bn, boosted by higher account maintenance charges and deeper adoption of electronic payments. Analysts say the upturn reflects improving economic activity, as Nigeria’s PMI hit a nine-month high in May. The performance underscores a wider push for digital finance in Africa. Development institutions note that e-banking expands financial inclusion, formalises economic activity, and strengthens government revenue through improved transaction traceability and compliance.

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