Nigerian banks are increasingly turning to non-interest income to diversify revenue streams, enhance profitability, and mitigate risks associated with traditional interest-based models. Analysts observed that this shift is mainly driven by economic volatility, regulatory changes, and the growing adoption of digital financial services. Pinnacle Daily’s analysis of the financial statements of eight Nigerian commercial banks …
Nigeria’s non-interest banks – Jaiz, TAJ and The Alternative Banks – recorded significant growth in assets in the 2024 financial year. Analysis of the banks’ full-year 2024 financial results revealed that the non-interest financial institutions recorded strong financial performance during the period. Pinnacle Daily’s analysis of the three banks’ 2024 financial reports revealed a combined …
Agusto & Co., a pan-African credit rating agency, has projected that Nigerian banks' profit before tax (PBT) for 2025 will drop by 19.2 per cent, primarily due to higher impairment charges, reduced foreign exchange (FX) revaluation gains, and regulatory changes. The pan-African rating agency made this known in its latest banking industry report for 2025. …
